US Treasury Secretary: Nearly $500M in Iranian crypto assets seized

U.S. Treasury Secretary Scott Bessent has announced the seizure of approximately $500 million in crypto assets as part of a pressure campaign against Iran, Cointelegraph reported. Speaking on Fox Business on April 29, Bessent detailed the results of "Operation Economic Fury," an initiative ordered by President Donald Trump in March 2025. He stated that the U.S. is freezing bank accounts globally and is focused on discouraging any willingness to transact with the Iranian regime. Bessent added that sanctions also extend to the retirement pensions and overseas real estate of Iranian officials. The $500 million figure represents a significant increase from previously disclosed amounts. Last week, stablecoin issuer Tether froze over $344 million in USDT following sanctions on Iran-linked crypto wallets by the Treasury's Office of Foreign Assets Control (OFAC).