The United States has seized roughly $1 billion in Iranian digital assets, Treasury Secretary Scott Bessent disclosed on Friday. The haul is part of 'Operation Economic Fury,' a campaign launched in March 2025 that targets Iranian bank accounts, properties, and cryptocurrency. That $1 billion figure is about double the $500 million the Treasury announced in late April, and far above the $344 million disclosed earlier that month.
Operation Economic Fury's expanding scope
Bessent laid out the rationale in stark terms. Iran's inflation likely exceeds 200%, he said. Food vouchers are being distributed, the internet has been shut down, and 40-50% of Iranian troops aren't receiving pay. Before U.S. intervention, Iran was drawing $400-500 million per month from various sources and splitting it among roughly 80 leaders. That flow has been disrupted, Bessent noted.
The seizures are part of a broader military and financial campaign. The U.S. and Israel have been running operations against Iran for about five and a half to six weeks, according to the disclosure.
Iran's fractured leadership complicates talks
Negotiations with Iran are complicated by a fractured leadership structure. That's the result of strikes by the U.S. and Israel on senior regime figures. With the money pipeline cut and key leaders hit, it's not clear who has the authority to negotiate — or whether they'd even want to.
The timing isn't great for Tehran. The Treasury's latest seizure announcement comes as Iran's economy is under severe strain. But the regime isn't sitting still.
Iran's Bitcoin insurance gambit
Iran is exploring a platform called 'Hormuz Safe' to sell digital marine insurance paid in Bitcoin to ships passing through the Strait of Hormuz. The idea: generate over $10 billion in revenue by offering coverage for vessels navigating one of the world's most strategically important waterways.
It's a clever workaround. Traditional insurance markets are off-limits due to sanctions. By using Bitcoin, Iran could bypass the dollar-based financial system entirely. Whether the platform actually launches — and whether buyers would trust it — is an open question.
For now, the U.S. has made clear it's watching. The $1 billion seizure is a signal that Operation Economic Fury isn't slowing down. The next question is whether Hormuz Safe ever becomes more than a proposal.
