U.S. seizes nearly $500M in crypto from Iran

The U.S. Department of the Treasury has seized approximately $500 million in crypto assets from Iran as part of the Operation Economic Fury campaign. This was announced by U.S. Treasury Secretary Scott Bessent during an appearance on the Kudlow program.

According to him, the operation aims to undermine Iran’s financial resources by freezing assets, bank accounts, and increasing international pressure. He emphasized that these actions are carried out “in the interest of the Iranian people.”

Details of Operation Economic Fury

Bessent stated that the U.S. is blocking Iran’s financial resources worldwide, including pension funds and overseas real estate.

“We are freezing bank accounts everywhere. But more importantly, we are making fewer and fewer people want to deal with this regime,” he said.

The campaign has been ongoing for over a year. According to the Secretary, the U.S. is “rapidly approaching” its conclusion. He claims that the economic pressure has already led to significant consequences for the country, including:

• the bankruptcy of Iran’s largest bank;
• rising inflation;
• a 60–70% depreciation of the national currency against the U.S. dollar.

Bessent also noted that the U.S. has increased pressure on buyers of Iranian oil, threatening secondary sanctions.

He additionally referenced a naval blockade of Iranian ports, particularly in the Strait of Hormuz, which is reducing oil exports.

The Secretary confirmed that the U.S. will continue applying economic pressure, as negotiations with Iran have reached a deadlock.

Earlier, Wintermute suggested that a ceasefire between the U.S. and Iran could push Bitcoin toward the $80,000 level.

See also: "UAE exits OPEC after 59 years, BTC drops below $76,000 amid Ormuz supply shock"

#USA #Iran

Share: