Nikolas Sargeant
TL;DR
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U.S. Treasury Secretary Scott Bessent said the United States has seized approximately $1 billion in cryptocurrency assets linked to Iran, nearly double the previously reported amount.
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The seizures are part of broader efforts to disrupt Iran's alleged sanctions-evasion activities and financial networks.
Total Confiscated Crypto Doubles Previous Estimate
The United States has seized approximately $1 billion worth of cryptocurrency linked to Iran, nearly doubling the amount previously disclosed by the government, according to Treasury Secretary Scott Bessent.
Speaking at the 2026 Reagan National Economic Forum on Friday, Bessent said U.S. authorities have intensified efforts to disrupt Iran's sanctions-evasion activities and cut off financial resources tied to the regime.
"We believe they were stealing about $400 million to $500 million a month through sanctions evasion," Bessent said. "This is money that's been stolen from the Iranian people."
During an interview with Fox Business host Larry Kudlow at the event, Bessent revealed that U.S. authorities have successfully seized control of cryptocurrency wallets associated with Iran.
"I believe that we have seized about a billion dollars of their crypto," Bessent said. "Just outright grabbed the wallets. Some of them may be typing in right now and might not realize that their wallet has been grabbed."
The remarks mark a significant increase from Bessent's previous estimate. In April, the Treasury Secretary stated that the U.S. had confiscated nearly $500 million in Iranian cryptocurrency assets as part of its broader sanctions enforcement campaign.
US Expands Financial Pressure on Iran
Bessent emphasized that the government's strategy extends beyond cryptocurrency seizures and includes efforts to isolate Iran from the global financial system.
"We are freezing bank accounts everywhere," he said during remarks in April. "More importantly, we are making people less willing to deal with the regime."
The Treasury Department has increasingly focused on disrupting digital asset networks that authorities believe are being used to circumvent international sanctions and facilitate illicit financial flows.
The Treasury Secretary also reiterated the Biden administration's approach toward building the nation's digital asset reserves.
Speaking in August 2025, Bessent said the U.S. government would not actively purchase Bitcoin for its strategic reserve. Instead, the reserve would be expanded through confiscated and forfeited digital assets obtained through law enforcement actions.
He reaffirmed that position earlier this year, stating that seized Bitcoin would continue to be added to the government's digital asset holdings.
"The policy of this government is to add seized bitcoin to our digital asset reserve after the damages are done," Bessent said. "The bitcoin reserve, our view, was first you have to stop selling, which we have done, and then we can add the assets and asset forfeitures."
United States Remains Largest Known Government Bitcoin Holder
According to blockchain intelligence platform Arkham, the U.S. government currently holds approximately 328,372 BTC, making it the world's largest publicly known state holder of Bitcoin.
At current market prices, those holdings are valued at more than $24 billion, underscoring the growing role of digital assets within government asset-forfeiture programs and national reserve strategies.
The latest seizure highlights the increasing use of cryptocurrency enforcement as a tool of U.S. sanctions policy while demonstrating the government's expanding capabilities in tracking and confiscating digital assets linked to illicit activities.
