The United States has publicly documented a major advance in its sanction regime against Iran, reporting the seizure of about $1 billion in Iranian cryptocurrency assets. Speaking at the Reagan National Economic Forum, Treasury Secretary Scott Bessent said the U.S. has “outright grabbed the wallets,” a maneuver he described as part of a broader financial pressure campaign. Some wallet holders may still be unaware that their funds have been seized, he added in remarks that drew attention to the speed and scale of asset freezes conducted under the administration’s sanctions strategy.

Officials characterized the seizures as a component of Operation Economic Fury, a coordinated effort launched in March 2025 to disrupt Iranian access to funds held in digital assets, as well as traditional financial channels. Bessent framed the operation as a decisive step in tightening the financial noose around Tehran, arguing that the campaign has effectively cut off critical liquidity for the regime. “I think between five and a half to six weeks of an incredibly successful military campaign and Operation Economic Fury, where we have really cut them off. They are at the end of their tether now financially,” he said, underscoring the administration’s posture on Iran’s financial resilience.

Key takeaways

• Approximately $1 billion in Iranian crypto assets have been seized, according to remarks at the Reagan National Economic Forum in which Scott Bessent spoke.
• The seizures are described as part of Operation Economic Fury, a multi-front effort launched in March 2025 to disrupt Iran’s access to crypto and other financial resources.
• Iran’s economic situation, as characterized by the official account, appears dire: inflation above 200%, widespread internet shutdowns, consumer support programs, and significant payroll issues for the armed forces.
• The newly disclosed total markedly exceeds prior public figures, roughly doubling the $500 million previously cited in late April and far above the $344 million in crypto assets frozen after sanctions in April.
• Separately, Iran has signaled interest in monetizing the Strait of Hormuz through a Bitcoin-based insurance framework, a proposal that has been described in state-linked media channels and could redefine how a strategic chokepoint is insured and priced in crypto terms.

Escalating asset seizures and Tehran’s financial squeeze

The claim of a $1 billion crypto seizure arrives as part of a broader narrative presented by U.S. officials about the effectiveness of financial pressure tools against Iran. Bessent’s remarks highlighted the rapid pace at which some crypto wallets were identified and seized, with an emphasis on the notion that “the wallets” could be pulled from holders who may not yet realize the funds have been redirected. The assertion aligns with a continued emphasis on cutting-edge enforcement tools that target digital assets alongside traditional sanctions mechanisms.

While the public cast is blunt about the impact on Iran’s finances, the underlying picture, as outlined by the official account, portrays a regime under stress. Bessent described a scenario in which Iran was siphoning roughly $400 million to $500 million per month, distributing proceeds among about 80 elite figures, before the intervention. The official narrative also paints a bleak macroeconomic environment: inflation surging past 200%, consumer subsidies being issued, the internet intermittently restricted, and a substantial portion of the regular pay for armed forces and security personnel disrupted or withheld.

The statements come as U.S. and allied authorities continue to pursue a multi-pronged approach—blending asset freezes, banking restrictions, and international cooperation—to constrain Tehran’s financial flows. The administration has cited progress across different fronts, including crypto-focused seizures and partnerships with European allies to extend property confiscations tied to illicit activity. Critics, meanwhile, stress the challenge of tracing and freezing decentralized assets and the potential for collateral effects on ordinary users who may hold assets in accounts unrelated to sanctioned entities.

From wallet seizures to Hormuz: Iran’s Bitcoin-based ambitions under scrutiny

Beyond the asset seizures, Iran’s broader geopolitical and economic strategy has included exploratory discussions about monetizing control over the Strait of Hormuz through crypto-enabled mechanisms. Cointelegraph reports that a state document circulated by Fars News Agency—a media outlet with close ties to the Islamic Revolutionary Guard Corps—outlined a platform named “Hormuz Safe.” The concept envisions selling digital marine insurance paid in Bitcoin and settled on the blockchain, with the potential to unlock substantial revenue for the country—projected at over $10 billion in annual terms if enacted at scale.

In related coverage, Iran has been reported to consider a model where ships passing through Hormuz would pay a tariff in Bitcoin—specifically, a $1 per barrel charge—to clear passage. The idea reflects a broader trend of state-backed crypto experimentation and aims to leverage Bitcoin’s settlement properties to simplify cross-border charging and revenue collection for a critical strategic artery. Iran’s government-linked proclamations emphasize that such a framework would be settled on-chain, potentially enabling more transparent and auditable toll collection than traditional approaches.

These discussions come amid ongoing negotiations related to Iran’s broader ties with the U.S. and allied powers, amplified by recent strikes that have targeted regime figures and key infrastructure in the region. The exact status and feasibility of Hormuz Safe remain uncertain, and observers caution that any such program would require robust international coordination, regulatory clarity, and secure settlement rails to avoid unintended consequences for global shipping and finance.

For readers tracking the crypto-policy angle, the Hormuz Safe concept intersects with broader questions about how states might use distributed ledger technologies to capture value from strategic chokepoints. If realized, a BTC-based insurance and settlement model could set a precedent for asset-backed, borderless revenue streams tied to critical maritime corridors. Yet the practicalities—risk management, liquidity, sovereignty concerns, and cross-border fiat integration—remain unresolved and subject to regulatory pushback and geopolitical risk.

Context and what to watch next

By tying crypto seizures to a broader sanctions playbook, U.S. authorities appear intent on signaling that digital assets are not a safe haven for sanctioned entities. The discrepancy between the new $1 billion figure and prior public disclosures—roughly $500 million announced in late April and about $344 million sanctioned in April—suggests a rapid acceleration in enforcement activity and asset identification. Still, the opaque and rapidly evolving nature of blockchain addresses and wallet ownership means that some seizures may unfold quietly over time, with beneficiaries or oblivious wallet holders discovering the losses only later.

Investors and observers should watch for two pivotal developments. First, how the United States and its allies operationalize and expand the “Economic Fury” framework, including potential cross-border asset coordination and the extension of sanctions into new cryptographic asset classes or platforms. Second, the Hormuz Safe proposal and similar state-led crypto initiatives will need to prove viable in a real-world maritime and financial environment. Any movement toward an on-chain toll collection system or insurance mechanism would have to contend with international shipping laws, sanctions compliance, and the volatility inherent in crypto markets.

As market participants digest these developments, several questions remain unsettled. Will more Iranian crypto wallets be identified and frozen, or will enforcement cap at the current level? How will the Hormuz Safe concept evolve—if it moves beyond a policy paper to a concrete program, what safeguards and oversight will be required? And how will financial institutions and crypto platforms adapt to heightened scrutiny around sanctioned jurisdictions and their digital assets?

Further coverage continues to emerge from outlets monitoring the intersection of sanctions policy and crypto markets. Cointelegraph has previously reported on market reactions to related U.S. actions and the broader implications for Bitcoin and crypto markets under geopolitical stress. As the regulatory and enforcement landscape tightens, market participants should treat any official disclosures with caution and consider how these developments might influence liquidity, risk management, and cross-border settlement in the months ahead.

For now, the narrative centers on a clearer message from policymakers: digital assets are increasingly entangled with national security and foreign-policy aims, and the consequences—whether in seized wallets or new insurance frameworks—will ripple through exchanges, custodians, and users worldwide. The next few weeks could reveal whether Tehran’s financial strategy shifts to accommodate tighter controls or whether new, untested crypto-instrument concepts move from talk to policy.

Sources and related context: remarks from the Reagan National Economic Forum and statements around Operation Economic Fury, including prior reporting on crypto seizures and sanctions timelines. Additionally, state-linked reporting on Hormuz Safe and Bitcoin-based tolls for the Strait of Hormuz has been cited in coverage tracing the potential monetization of critical maritime routes through crypto-native mechanisms.

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If an investor wants to see a 40x return on Dogecoin today, it would have to become the most valuable financial institution in the world, which is increasingly unlikely as liquidity continues to decline through the industry.

Elsewhere, despite its glory days, Cardano has not lived up to the expectations it set in 2021, when it hit a new all-time high of $3.10.

In contrast, the smart money is moving toward younger, more agile projects that possess the “coiled spring” effect. Little Pepe represents this new era of digital assets, where community sentiment meets massive capital influx at the ground floor. By offering an entry point that remains significantly undervalued relative to its utility and community backing, LILPEPE provides the kind of leverage that ADA and DOGE can no longer provide to the average portfolio.

Quantitative Dominance and the Presale Powerhouse

The most compelling evidence of the impending explosion for Little Pepe lies in its staggering presale data. Financial records indicate that the project has already raised over $28.1 million across its various funding stages. This is not a modest figure; it reflects a level of investor confidence rarely seen in the early stages of a memetic token. The fact that the project has successfully moved over 16.9 billion tokens into the hands of early adopters suggests a highly distributed and committed holder base, which is a prerequisite for any asset aiming for a vertical price trajectory.

At the time of analysis, the presale has reached a critical juncture, with 98% of stage 13 complete. With the current price locked at a mere $0.0022, the window for entry at these historic lows is rapidly closing. This specific price point is the catalyst for the projected 40x ROI. When an asset possesses this much liquidity and capital backing before it even hits the primary decentralized and centralized exchanges, the resulting “supply shock” upon public listing often leads to the exact type of parabolic growth that transforms modest allocations into significant wealth.

The Two-Month Horizon for Exponential Growth

The timeline of “under two months” is particularly significant because it aligns with the anticipated conclusion of the final presale stages and the transition to the open market. Market history shows that the period immediately following a high-demand presale is often the most lucrative for holders. As the 98% completion of stage 13 approaches, the urgency among investors is palpable. The transition from a controlled presale environment to the volatility of the open market amplifies price action, especially when a project has already demonstrated the ability to sell 16.9 billion tokens on its own.

Unlike many speculative assets that fizzle out for lack of funding, Little Pepe has the financial runway to dominate the narrative for the remainder of the quarter.

Final Outlook on the LILPEPE Phenomenon

The evidence points toward a singular conclusion: the opportunity for massive returns has shifted away from the “old guard” of Cardano and Dogecoin and toward the explosive potential of Little Pepe. With $28.1 million in the bank and a community that has already absorbed nearly 17 billion tokens, the project is not just a participant in the market; it is a leader in the making.

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The United States has seized about $1 billion worth of cryptocurrency tied to Iran, Treasury Secretary Scott Bessent said, describing the action as part of a broader campaign to cut off funding channels used by Tehran.

Speaking in an interview on Fox Business, Bessent said U.S. authorities had “grabbed the wallets” and seized cryptocurrency connected to Iran.

He said the effort falls under Operation Economic Fury, an administration initiative aimed at restricting Iran’s access to overseas revenue, banking networks and digital-asset infrastructure.

“In addition, Treasury has cracked down on Tehran’s global shadow banking networks; designated networks supplying weapons and other military components to Iran; sanctioned a corrupt Iraqi official who has facilitated the sale of oil along with Iran-backed militias operating in Iraq,” a press release from the Treasury reads.

Bessent said the pressure campaign had contributed to worsening economic conditions in Iran. He added that large numbers of military personnel were not being paid, police officers were failing to report for duty, and inflation had exceeded 200%.

He also said Iranian authorities had resorted to food vouchers and internet shutdowns.

The Treasury secretary said the U.S. and its partners were also targeting overseas real estate and other assets that he described as proceeds diverted from the Iranian people.

He added that Iranian officials had previously moved hundreds of millions of dollars each month before Treasury intervention.

Read more: Iran crisis puts the regime’s $7.8 billion crypto shadow economy in spotlight

TLDR:

• Wintermute is now quoting two-sided markets on event contracts across venues doing $20 billion monthly in volume.
• The prediction market industry has crossed $60 billion in 2026, yet still lacks the institutional liquidity it needs to mature.
• Event contracts price real-world outcomes directly, offering more targeted exposure than equities, rates, or currencies.
• Wintermute’s existing crypto infrastructure covers custody, collateral, and risk management that prediction market venues already require.

Wintermute has moved into the prediction market industry, now providing liquidity across event contracts on leading venues.

The algorithmic trading firm brings over $3.5 trillion in annual trading volume to a segment that has crossed $60 billion in 2026.

This entry marks a turning point for prediction markets, as institutional-grade infrastructure begins supporting a fast-growing but liquidity-thin space.

A $60 Billion Market That Needed Institutional Depth

The prediction market industry has expanded at a pace few anticipated just years ago. Trading volume across leading venues now exceeds $20 billion per month as of early 2026. That growth has outpaced the liquidity infrastructure needed to support it properly.

Wintermute is stepping in to close that gap by quoting continuous bid and offer prices across event contracts. Two-sided liquidity tightens spreads and allows participants to trade in larger sizes. Over time, this also strengthens the accuracy of probabilities that these markets produce.

Jake Ostrovskis, Head of OTC Trading at Wintermute, addressed the core problem directly. “Prediction markets have the demand profile of a major asset class but the liquidity profile of an early-stage one,” he said.

He added that sustained two-sided liquidity is what allows these markets to become reliable real-time probability tools.

Ostrovskis further noted that deeper liquidity does more than improve execution. “That depth tightens spreads, supports larger trade sizes, and in turn improves the signal embedded in market prices,” he explained.

“That is where Wintermute can add value.” Wintermute already operates across more than 70 exchanges, making this expansion a natural fit.

Why Wintermute Is Betting on Event Contracts

Prediction markets price real-world outcomes directly, rather than through traditional proxies like equities or currencies. For institutions managing exposure to specific catalysts, this offers a more targeted tool.

Policy decisions, economic data releases, and other discrete events become tradeable with greater precision.

Wintermute captured that distinction in a public statement, saying “prediction markets are emerging as a distinct asset class, pricing probabilities on events that traditional markets don’t capture cleanly.”

That framing reflects how the firm views the segment’s broader role in financial markets. It also explains why the firm sees long-term value in committing liquidity here.

Many prediction market venues also operate on public blockchains using stablecoin settlement systems. This aligns closely with infrastructure Wintermute already manages across spot, DeFi, and OTC crypto markets.

Custody, collateral, and risk management requirements are already part of the firm’s daily operations.

That overlap makes the move into prediction markets a practical extension rather than an entirely new venture. Wintermute Group’s existing systems handle the technical demands these venues require.

As the industry continues its growth trajectory, institutional participation from firms like Wintermute is likely to accelerate further adoption across the space.

Traditional financial institutions are preparing to move trillions of dollars of assets onchain, but the risk of hacks and exploits is putting them off, according to blockchain security firm CertiK’s CEO Ronghui Gu.

“Right now, more and more institutions are trying to move assets onchain,” Gu told CoinDesk in an interview. “They imagine that, let’s say in 10 years, multiple trillion dollars — even tens of trillions of dollars — of assets are going to move onchain.”

The potentially massive migration of financial assets is hitting a wall because, although bankers and legacy institutions want to capture the efficiency of decentralized ledgers, the current operational reality is still too risky for conservative capital allocators.

“When they move assets onchain, they need to face all these AI attacks, smart contract vulnerabilities, oracle manipulation, and cross-chain bridge hacks,” Gu explained. “So, that’s being considered as one of the major blockers for all this TradFi to move trillions of dollars of assets onchain.”

Gu said their concerns are legitimate, noting that CertiK detected hacks nearly every day in April, making it the worst month in four years, fueled mostly by AI-driven attacks, notwithstanding “April was the worst month in four years with only three days without a hack,” Gu said, adding that CertiK believes this sudden rise could only be possible with AI.

Drift Protocol and Kelp Dao were hacked by North Korean cybercriminals in April in two exploits that drained nearly $600 million from the two lending crypto pools. In February 2025, Bybit suffered a $1.46 billion attack, described as the biggest hack of all time.

DefiLlama data recently showed more than $1.1 billion had been lost to DeFi hacks in a year, exposing how vulnerabilities in cross-chain infrastructure can quickly spill into the broader ecosystem.

Persistent operational failure is the primary symptom of what Gu calls an “unfair game” in favor of malicious actors, because they possess infinite resources.

Deep pockets

Hackers focus on highly lucrative protocols with massive total value locked (TVL), so they are economically incentivized to pump immense capital into their exploits.

A single protocol attacker can easily spend $10,000 to $20,000 worth of computer tokens to keep advanced engines running continuous vulnerability scans against a protocol for days or weeks on end. Conversely, Gu said, protocol defenders operate under strict, localized project budgetary constraints.

“We have 5,000 clients,” Gu explained. “When we receive a request from a client, there’s a budget. We will spend tokens plus human experts within that budget.” That creates a massive structural gap: while a defense team is bound by a strict commercial contract to scan a protocol over a few hours, the machines of a hacker or group of hackers never stop hunting for a single crack in the code.

Gu said exploits have increased in speed and efficiency with AI and what’s worse is that the nearly-daily trend seen in April could continue through to the end of this year.