The U.S. Treasury sanctioned an exchange called BitBank.
According to a report by Decrypt, the OFAC said that over the course of two months, tens/hundreds of millions of dollars’ worth of Bitcoin flowed through it to the Iranian Revolutionary Guard Corps.
The purpose was to pay transit fees for ships passing through the Strait of Hormuz, settled in Bitcoin.
For beginners, the value of this isn’t in the price—it’s that it shows on-chain transfers leave a trace: who acted as the intermediary, how much was transferred, and after the fact, it can all be uncovered.
Not investment advice.
#BTC
According to a report by Decrypt, the OFAC said that over the course of two months, tens/hundreds of millions of dollars’ worth of Bitcoin flowed through it to the Iranian Revolutionary Guard Corps.
The purpose was to pay transit fees for ships passing through the Strait of Hormuz, settled in Bitcoin.
For beginners, the value of this isn’t in the price—it’s that it shows on-chain transfers leave a trace: who acted as the intermediary, how much was transferred, and after the fact, it can all be uncovered.
Not investment advice.
#BTC