US Treasury Secretary Scott Bessent said that American authorities had seized around $1 billion in crypto assets linked to Iran — twice the amount announced at the end of April.
During the Memorial Day weekend, oil markets moved lower after US President Donald Trump stated that an agreement to restore shipping through the Strait of Hormuz was “mostly agreed,” pushing Brent crude below the $99 level while Bitcoin remained near $77,000 as US stock exchanges stayed closed for the holiday.
American media outlet Axios shared details of a potential agreement currently being discussed between the United States and Iran. According to the report, the parties plan to extend the current ceasefire for another 60 days and hold comprehensive negotiations during this period on energy, maritime trade, and the nuclear programme.
Financial markets sharply reversed higher following reports of a possible peace agreement between the United States and Iran. Within minutes, the US stock market added roughly $500 billion in market capitalisation, while oil prices dropped sharply amid expectations of easing tensions around the Strait of Hormuz.
Iranian businessman Babak Zanjani transferred approximately $850 million to Iranian authorities through Binance over a two-year period. This was reported by The Wall Street Journal, citing company documents, law enforcement officials, and other sources. Binance stated that the transfers “have nothing to do” with the platform.
US President Donald Trump announced that negotiations with Iran have reached the “final stage”. Speaking to reporters, Trump stated:“We’ll see what happens.”He added that the main question now is “whether the process will be completed militarily or whether Iran will sign an agreement.”Trump also said:“We may have to strike Iran harder, or maybe not.”
Iranian exchange Nobitex used the Tron and $BNB Chain blockchains to bypass Western sanctions, with at least $2.3 billion flowing through these networks. The same blockchains, developed with the involvement of crypto billionaires Justin Sun and Changpeng Zhao, also became the foundation for the Trump family’s crypto project, World Liberty Financial.
U.S. President Donald Trump expressed dissatisfaction with the latest proposal presented during negotiations to end the war with Iran. Speaking to reporters at the White House, Trump stated that Tehran’s administration wanted to reach a deal, but the current proposal did not meet their expectations.
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.
The largest cryptocurrency slipped slightly below $77,000 during Wednesday’s Asian session, rising just 0.1% over 24 hours and falling 0.8% over the week, holding in a tight range even as Brent crude climbed above $111 per barrel following a Wall Street Journal report that President Donald Trump had instructed aides to prepare for a prolonged U.S. naval blockade of the Strait of Hormuz.
Media affiliated with the Iranian government deny claims that Tehran is already charging for passage through the Strait of Hormuz in bitcoin or stablecoins.
On Thursday, Bitcoin’s upward momentum slowed: the asset’s price pulled back from a peak of $79,500 and stabilized around $78,000. This 1.2% drop marked the first daily decline of the cryptocurrency in several days, leading to a reduction in total market capitalization by $10 billion.
Amid ongoing tensions between the United States and Iran, notable developments have occurred on both diplomatic and military fronts. A senior Iranian official told Reuters that Pakistan’s efforts to persuade the U.S. to lift the naval blockade and release the seized Iranian vessel and its crew have so far failed.
They highlighted Bitcoin’s stability even during sharp fluctuations in equity markets. Wintermute also focused on whether Bitcoin can reclaim its “store of value” narrative.
As diplomatic negotiations continue over a possible resolution of the ongoing conflict between Iran and the United States, new noteworthy statements have emerged from Tehran.
During the ongoing negotiations between the United States and Iran, an important development occurred regarding the Strait of Hormuz. According to reports from the U.S. media, the Iranian government announced that the Strait of Hormuz will remain “fully open” to all commercial vessels for the duration of the ceasefire. This move is seen as a significant signal regarding the security of global energy and trade flows.
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