The US-Iran conflict is still ongoing, and tensions between the two countries are escalating.
While uncertainty remains about what will happen next, new statements have come from the US Treasury Secretary.
Speaking on Fox Business’s Kudlow program, US Treasury Secretary Scott Bessent stated that approximately $500 million worth of crypto assets were seized from Iran.
Scott Bessent announced that $500 million worth of cryptocurrency assets were seized during an economic pressure operation targeting Iran.
Bessent stated that this seizure was part of President Donald Trump’s Operation Economic Rage, which aims to cut off Iran’s funding sources through seizure, bank account freezing, and secondary sanctions.
Bessent stated that as part of the campaign, the U.S. has frozen bank accounts worldwide and is focused on deterring transactions with the Iranian regime.
Bessent added that the sanctions also cover the pensions of Iranian officials and their properties abroad.
Scott Bessent, lastly, stated that US pressure has spread throughout the entire Iranian economy. He added that one of Iran’s major banks went bankrupt last December, and the Iranian currency has lost 60% to 70% of its value against the dollar. “Iran is currently facing a currency crisis,” he emphasized.
*This is not investment advice.