The United States freezes 344 million cryptocurrencies related to Iran

US Treasury Secretary Scott Bessent stated that the Treasury Department is sanctioning multiple wallets related to Iran and tracking their financial activities. Tether assisted in freezing $344 million worth of cryptocurrency in two addresses. Chainalysis data shows that these wallet activities are consistent with the characteristics of the Islamic Revolutionary Guard Corps wallet. US officials stated that the funds were traded through intermediary addresses with wallets associated with the Central Bank of Iran, used to evade sanctions and international trade. By 2025, Iran's cryptocurrency holdings are expected to reach $7.8 billion, with the Islamic Revolutionary Guard Corps holding approximately 50% in the fourth quarter of last year.