US Treasury Seizes $1 Billion in Crypto From Iran-Linked Entities, Bessent Says Friday

According to Treasury Secretary Scott Bessent, the U.S. government seized approximately $1 billion in cryptocurrencies from entities linked to Iran's military on Friday at the 2026 Reagan National Economic Forum in California. Bessent told Fox Business Network that the U.S. "just outright grabbed the wallets," noting that some actors may not have realized their funds were seized.

Iran's Islamic Revolutionary Guard Corps has reportedly embraced Bitcoin for multiple purposes, including a maritime insurance platform called Hormuz Safe and a scheme requiring oil tankers to pay transit fees in Bitcoin through the Strait of Hormuz. Israeli authorities alleged last year that Iran's IRGC received $1.5 billion in Tether's USDT stablecoin.