The US has seized roughly $1 billion in Iranian cryptocurrency assets amid the ongoing conflict with Iran, according to Treasury Secretary Scott Bessent.
"We have seized about a billion dollars of their crypto," Bessent told Fox Business. "Just outright grabbed the wallets.”
During the Reagan Annual Economic Forum, Bessent said that the economic pressure amid “Operation Economic Fury,” which began in March 2025, has brought the country into a crisis. Amid the operation, Iranian assets have been seized, bank accounts have been frozen, and foreign governments have been pressured to cut ties with the regime.
"I think between five and a half-six weeks of an incredibly successful military campaign and then Operation Economic Fury, where we have really cut them off…they are at the end of their tether now financially," he said. "I think 40 or 50 percent of the [Iranian] troops aren't getting paid. Police aren't reporting to the station. Inflation is probably over 200 percent. They're having to give out food vouchers. They have turned off the internet."
Bessent also accused the Iranian regime of having siphoned $400-$500 million every month and dividing the profits among regime leaders prior to the US Treasury Department intervening.
"We are working with our allies all over Europe to grab villas and houses and properties," Bessent added. "And this is money that's stolen from the Iranian people."
Bessent also added that Iran made a “very big” mistake by attacking Persian Gulf countries.
"They made my job so much easier because, before, many of our great GCC Gulf allies were a little less than transparent about their banking system, that, ‘Oh no, we don't have any Iranian oil,’" Bessent said.
On Friday, President Donald Trump held a meeting at the White House where he said a "final determination" on Iran would be made.
"We have seized about a billion dollars of their crypto," Bessent told Fox Business. "Just outright grabbed the wallets.”
During the Reagan Annual Economic Forum, Bessent said that the economic pressure amid “Operation Economic Fury,” which began in March 2025, has brought the country into a crisis. Amid the operation, Iranian assets have been seized, bank accounts have been frozen, and foreign governments have been pressured to cut ties with the regime.
"I think between five and a half-six weeks of an incredibly successful military campaign and then Operation Economic Fury, where we have really cut them off…they are at the end of their tether now financially," he said. "I think 40 or 50 percent of the [Iranian] troops aren't getting paid. Police aren't reporting to the station. Inflation is probably over 200 percent. They're having to give out food vouchers. They have turned off the internet."
Bessent also accused the Iranian regime of having siphoned $400-$500 million every month and dividing the profits among regime leaders prior to the US Treasury Department intervening.
"We are working with our allies all over Europe to grab villas and houses and properties," Bessent added. "And this is money that's stolen from the Iranian people."
Bessent also added that Iran made a “very big” mistake by attacking Persian Gulf countries.
"They made my job so much easier because, before, many of our great GCC Gulf allies were a little less than transparent about their banking system, that, ‘Oh no, we don't have any Iranian oil,’" Bessent said.
On Friday, President Donald Trump held a meeting at the White House where he said a "final determination" on Iran would be made.
