Iran holds an estimated $7.7B in crypto, Fox Business reports

The Iranian government is estimated to hold approximately $7.7 billion in cryptocurrency, Fox Business reported, citing analysis from a threat detection data firm. The U.S. Treasury Department has previously frozen about $500 million in Iran-linked crypto, with $344 million frozen last month alone. Chris Perkins, CEO of 250 Digital Asset Management, explained that while cryptocurrency is often perceived as a tool for evading sanctions, it can actually be advantageous for law enforcement tracking. The outlet noted that the U.S. government could intensify pressure on Iran by blocking cryptocurrency exchanges from accessing the U.S. banking system.