Bessent: US Seizes $1 Billion in Iranian Crypto Assets

The United States has seized approximately $1 billion worth of Iranian cryptocurrency assets as part of a wider economic pressure campaign aimed at weakening Tehran’s financial networks, Treasury Secretary Scott Bessent revealed.

Speaking during an appearance on Fox Business’ “Kudlow” at the Reagan National Economic Forum, Bessent said the seizures form part of Washington’s ongoing “Operation Economic Fury,” a strategy designed to disrupt Iran’s access to funding and increase economic pressure on the country’s leadership.

US Claims Major Success Against Iranian Finances

Bessent argued that a combination of military operations and financial restrictions has significantly weakened Iran’s economic position.

“I think between five and a half to six weeks of an incredibly successful military campaign and then Operation Economic Fury, where we have really cut them off, they are at the end of their tether now financially,” he said.

The Treasury Secretary claimed the United States has aggressively targeted Iranian financial assets across multiple sectors, including cryptocurrency holdings, overseas properties and bank accounts.

Nearly $1 Billion in Crypto Assets Seized

According to Bessent, U.S. authorities have confiscated around $1 billion in cryptocurrency linked to Iranian interests.

“We have seized about a billion dollars of their crypto,” he said. “Just outright grabbed the wallets. Some of them may be typing in right now and might not realise their wallet had been grabbed.”

The figure represents multiple enforcement actions rather than a single operation.

Among the largest actions was the freezing of approximately $344 million worth of Tether (USDT) on the Tron blockchain in late April 2026. Additional seizures later pushed the total value of confiscated digital assets close to the $1 billion mark.

Operation Economic Fury Targets Iran’s Global Networks

Launched in March 2025, Operation Economic Fury was designed to cut off financial channels used by Tehran to fund government operations, military activities and sanctioned programs.

The campaign has included:

• Cryptocurrency seizures
• Asset freezes
• Bank account restrictions
• International sanctions enforcement
• Pressure on foreign governments and institutions
• Efforts to confiscate overseas properties linked to Iranian officials

Bessent said Washington is working closely with allies to identify and seize assets connected to Iranian entities.

“We are working with our allies all over Europe to grab villas and houses and properties,” he said.

He argued that many of these assets represent wealth that should belong to the Iranian people rather than government-linked figures.

Crypto Has Become a Key Sanctions Workaround

Iran has increasingly turned to cryptocurrency markets to bypass traditional financial restrictions imposed by Western sanctions.

Stablecoins such as Tether have become particularly important because they allow international transactions outside conventional banking systems.

Financial analysts have estimated that hundreds of millions of dollars move through crypto channels each month as Tehran seeks alternatives to restricted financial networks.

The United States has responded by increasing monitoring of blockchain transactions and working with crypto firms to identify wallets linked to sanctioned individuals and organizations.

Focus on Iran’s Leadership Structure

Bessent also claimed that pressure from military and financial measures has significantly disrupted Iran’s leadership structure.

“We did not have regime change, but we changed the regime,” he said.

According to Bessent, multiple layers of senior leadership have been weakened, forcing newer figures into positions of authority.

He described Iran’s power structure as consisting of two main pillars: the clerical establishment and the Islamic Revolutionary Guard Corps (IRGC), both of which remain key targets of U.S. sanctions.

Regional Cooperation Increasing

The Treasury Secretary suggested that Gulf states are becoming more willing to cooperate with Washington’s efforts.

According to Bessent, several regional governments have become increasingly open to sharing information regarding financial activities connected to Iranian oil exports and sanctions-evasion networks.

Such cooperation could make it more difficult for Tehran to use alternative trade routes and financial channels to offset the impact of sanctions.