US Targets $1 Billion in Iran-Linked Crypto for Seizure

The US administration has said it is looking to increase pressure on Iran and further isolate the country in what Treasury Secretary Scott Bessent called an “absolute isolation campaign”. Bessent said during an interview at Newsmax’s NPolicy Summit in Washington, D.C., that the Trump administration’s plans included a US$1 billion (AU$1.4 billion) seizure of crypto. Other measures would include targeting key infrastructure such as air and land travel, as well as a naval blockade. Regarding the crypto seizure, Bessent was adamant this is going to happen very soon, saying the administration “know[s] where it is”.