US seized $1B in Iranian crypto: Treasury chief

US Treasury Secretary Scott Bessent said Friday that the US has seized 1$ billion in Iranian cryptocurrency holdings and is working with European allies to seize properties linked to Tehran.

"I believe that we have seized about a billion dollars of their crypto," said Bessent, adding that the US "just outright grab the wallets."

Claiming that some account holders may still be unaware of the seizures, he said that "some of them may be like typing in right now, and realize they might not realize that their wallet had been grabbed."

Bessent said the US is also coordinating with allies abroad on broader asset seizures.

"We are working with our allies all over Europe to grab villas and houses and properties," he said, framing the effort as recovering funds stolen from ordinary Iranians.

"This is money that's stolen from the Iranian people," he claimed.

The Treasury chief also said Iran's oil export facility at Kharg Island has effectively been shut down, attributing the closure to a US naval blockade.

He added that Iran's recent attacks on Gulf states had backfired diplomatically, saying Gulf allies had since become "very good partners" in financial enforcement efforts against Tehran, allowing the US to freeze Iranian bank accounts in the region.