The US hints at plans to seize $1 billion in Iran-linked crypto this week
US Treasury Secretary Scott Bessent made headlines with a statement saying the US administration may seize around $1 billion in crypto assets this week.
Key points from the statement:
First, this is part of what he called a campaign of “total isolation” against Iran, alongside measures to blockade its sea, air, and land routes.
Second, Bessent asserted that he knows exactly where the crypto is and that efforts are underway to isolate it. However, the specific wallet addresses or types of coins being targeted have not been disclosed.
Third, the US Treasury’s history of crypto seizures has been busy: since June, it has sanctioned seven Iranian crypto exchanges, and in July it froze around $130 million. Earlier, in May, Bessent said $1 billion would be seized, but the figure in the subsequent announcement was actually close to $500 million.
In short, this is still just a policy announcement, not a finalized seizure notice. On-chain watchers are holding their breath to see whether any wallets actually move this week.
This post is just for keeping up with entertaining news and is absolutely not investment advice. If you happen to see news of a seizure and panic-sell, buy at the top, or sell at the bottom, please contact the US Treasury yourself—the admin doesn’t have the keys to Bessent’s wallet.
#CryptoNews #USDTreasury #CryptoMarket #Web3 #CryptoRegulation
US Treasury Secretary Scott Bessent made headlines with a statement saying the US administration may seize around $1 billion in crypto assets this week.
Key points from the statement:
First, this is part of what he called a campaign of “total isolation” against Iran, alongside measures to blockade its sea, air, and land routes.
Second, Bessent asserted that he knows exactly where the crypto is and that efforts are underway to isolate it. However, the specific wallet addresses or types of coins being targeted have not been disclosed.
Third, the US Treasury’s history of crypto seizures has been busy: since June, it has sanctioned seven Iranian crypto exchanges, and in July it froze around $130 million. Earlier, in May, Bessent said $1 billion would be seized, but the figure in the subsequent announcement was actually close to $500 million.
In short, this is still just a policy announcement, not a finalized seizure notice. On-chain watchers are holding their breath to see whether any wallets actually move this week.
This post is just for keeping up with entertaining news and is absolutely not investment advice. If you happen to see news of a seizure and panic-sell, buy at the top, or sell at the bottom, please contact the US Treasury yourself—the admin doesn’t have the keys to Bessent’s wallet.
#CryptoNews #USDTreasury #CryptoMarket #Web3 #CryptoRegulation