U.S. says it seized about $1 billion in Iranian crypto as pressure campaign expands

The U.S. seized approximately $1 billion in cryptocurrency linked to Iran under "Operation Economic Fury," an initiative designed to restrict Iran's access to international revenue sources, banking networks, and digital asset infrastructure. Treasury Secretary Scott Bessent stated that the seizure is part of a broader pressure campaign that includes cracking down on shadow banking networks and imposing sanctions, which he attributed to worsening economic conditions in Iran including over 200% inflation and unpaid military personnel.