Bessent: US to Seize About $1B in Iran-Linked Crypto This Week

Treasury Secretary Scott Bessent said the United States will "probably" seize about $1 billion in Iran-linked cryptocurrency this week. He made the remarks on Thursday, October 8, 2026, in an interview with Greta Van Susteren at Newsmax's NPolicy Summit in Washington, as reported by The Block and Blockonomi. "We know where it is and we are isolating them," Bessent said.

Details

Bessent framed the move as part of a shift from a "maximum pressure campaign" to an "absolute isolation campaign" against Iran, which he said "is working." Beyond financial measures, the campaign includes a blockade in the Strait of Hormuz, restrictions on international flights and the closure of land routes to neighboring countries. He did not identify the wallets or assets to be seized, nor say whether the sum would add to previously announced totals. As of publication, the Treasury Department had not issued an official statement on a new seizure.

This is not the first billion-dollar claim. In May 2026, Bessent said the US had already seized about $1 billion in Iranian crypto, having "just outright grabbed the wallets," although a Treasury release shortly afterward cited the earlier estimate of nearly $500 million, The Block notes. In July, wallet sanctions led to roughly $130 million being frozen: on-chain analyst Specter tied the action to four Tron addresses holding about $131 million in USDT, which Tether then blacklisted.

Since June, the Treasury has sanctioned seven Iranian crypto exchanges: Nobitex, Wallex, Bitpin and Ramzinex in June, Shelbit and Aban Tether in August, and BitBank in September, the latter accused of transferring hundreds of millions of dollars in bitcoin to the Islamic Revolutionary Guard Corps in June and July.

What it means for the market

Most Iran-linked crypto settlement runs through stablecoins on Tron, so the main seizure tool is not taking private keys but having the issuer freeze addresses at the government's request. Each such action strengthens the case that USDT and its peers are effectively within reach of US regulators, and it adds pressure on Tether, already under Senate scrutiny over its ties to Cantor Fitzgerald.

For bitcoin, the statement matters mostly as geopolitical backdrop: it was Trump's pledge not to strike Iran before the midterms that pushed BTC back to $82,000 on October 8. Confirmation of an actual seizure would come through Treasury press releases; the live price and market mood are on the daily summary.