U.S. Treasury Secretary Scott Bessent stated that the Treasury Department is sanctioning multiple wallets linked to Iran, aiming to track and disrupt all financial lifelines connected to the regime. Tether previously announced it had assisted the U.S. government in freezing cryptocurrencies valued at $344 million across two addresses. Data from Chainalysis indicates that the activity patterns of these wallets are consistent with the on-chain fund flows of wallets associated with the Islamic Revolutionary Guard Corps. U.S. officials revealed that blockchain analysis found the relevant funds were transacted through intermediary addresses linked to wallets connected to the Central Bank of Iran, in an effort to evade sanctions and facilitate international trade. Iran's cryptocurrency holdings reached $7.8 billion in 2025, with the Islamic Revolutionary Guard Corps' holdings accounting for approximately 50% of the total in the fourth quarter of last year.