Treasury Secretary Scott Besent recently revealed that the United States has seized $1 billion worth of crypto assets linked to the Iranian government. This number has continued to rise amid the ongoing conflict between the two countries.
US Treasury Secretary: Operation Economic Rage sends Iran into crisis
Earlier in the month, Besant It has been detected The US government confiscated $500 million in Iranian cryptocurrency assets. On Friday, May 29, just one month later, Picent announced at the Reagan National Economic Forum that this number had now passed the $1 billion mark.
These cryptocurrency seizures form part of a broader strategy called “Operation Economic Fury,” which, according to Besant, has pushed the Iranian government into an economic crisis. The campaign, which launched in April 2026, was said to target Iran’s illegal oil smuggling networks, shadow financing, and “regional maritime extortion” around the Strait of Hormuz.
Besant said at the conference:
I think it was between five and six weeks into the incredibly successful military campaign, and then Operation Economic Fury, that we really cut them off. They are at the end of their rope now financially. I think 40 or 50% of the (Iranian) forces do not receive their salaries. The police do not inform the station. Inflation will likely exceed 200%. They have to distribute food vouchers. They turned off the internet.
According to the Treasury Secretary, their efforts were assisted by allies in Europe, who helped seize villas and other properties believed to have been financed with money stolen from the Iranian people. Bessent open The Iranian regime was stealing between $400 and $500 million – shared among a group of leaders – every month.
This revelation comes after news that the United States and Iran are drafting a framework to extend the ceasefire for another 60 days, with the agreement awaiting the approval of US President Donald Trump. Despite Trump meeting with his national security team on Friday and claiming to have made a “final decision” on Iran, recent reports indicate that the meeting ended without a final decision on a new deal.
One of the major talking points that continues to hold up the agreement is doubts surrounding the unfreezing of seized Iranian funds, including cryptocurrency assets. While there is no indication that this will be the case for the seized Iranian digital assets, it is worth noting that Besant has hinted at using the seized cryptocurrencies (specifically) to build his strategic reserve rather than purchase.
Overview of cryptocurrency market capitalization
As of this writing, the total market cap of cryptocurrencies is approximately $2.45 trillion, reflecting a 0.24% jump over the past 24 hours.
The total crypto market cap on the daily timeframe | Source: TOTAL chart on TradingView
Featured image from iStock, chart from TradingView
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