US Freezes $344 Million in USDT, Citing 'Economic Fury' Against Iranian Regime

The US Treasury Department has frozen $344 million in cryptocurrency as part of a broader campaign to disrupt financial networks linked to Iran. According to Treasury Secretary Scott Bessent, the move is aimed at choking off all financial lifelines for the Iranian regime. The freeze is linked to the blacklisting of two blockchain addresses on the Tron network, holding $344 million in USDT. The US claims the sanctioned wallets have material links to the Iranian regime, including transactions with Iranian exchanges and connections to wallets associated with the Central Bank of Iran. Iran has been increasingly using cryptocurrency to bypass restrictions and obscure cross-border transactions. The US Treasury's Office of Foreign Assets Control (OFAC) is working to aggressively target both traditional front companies and the use of digital assets to pressure the Iranian regime. The US is also coordinating with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities.