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The U.S. Treasury has sanctioned multiple cryptocurrency wallets allegedly linked to Iran and said it has frozen roughly $344 million in digital assets, highlighting Washington’s growing use of blockchain intelligence and stablecoin issuers to disrupt sanctions evasion.
U.S. Treasury Secretary Scott Bessent said the department is tracking and blocking financial networks connected to the Iranian regime. The Treasury’s action included freezing assets held at two addresses, with stablecoin operator Tether stating it supported the U.S. government by freezing the funds.
Blockchain analytics firm Chainalysis said the transaction behavior of the sanctioned wallets resembles on-chain flows historically associated with wallets tied to Iran’s Islamic Revolutionary Guard Corps (IRGC). U.S. authorities said the assets moved through intermediary addresses before interacting with wallets linked to Iran’s central bank, and that the funds were used in activity consistent with sanctions circumvention and facilitation of international trade.
The enforcement action comes as estimates of Iran’s cryptocurrency holdings continue to draw attention. The report cited figures suggesting Iran’s cryptocurrency reserves were about $7.8 billion in 2025, with around half believed to be associated with the IRGC as of the fourth quarter of last year.
In the U.S. market, Bitcoin (BTC) spot exchange-traded funds extended their recent streak of inflows. On April 24 U.S. Eastern Time, the group recorded net inflows of $14.45 million across nine consecutive trading days of positive flows.
Total net asset value across U.S. Bitcoin spot ETFs was reported at $102.64 billion, about 6.6% of Bitcoin’s total market capitalization. Cumulative net inflows were reported at $58.56 billion.
Policy signaling also remained in the spotlight. Journalist Pete Rizzo wrote on X that President Trump is scheduled to speak at a Bitcoin and digital asset conference at Mar-a-Lago. Observers said the appearance underscores that crypto remains a live topic on Washington’s policy agenda, following Trump’s repeated emphasis on industry growth and the need for clearer rules.
Concerns mounted in Europe after reports that Polish crypto exchange Zondacrypto’s CEO Przemysław Kral left for Israel as the platform faces a potential insolvency. The episode could involve losses exceeding $100 million, with local reporting suggesting that approximately 99% of a purported Bitcoin reserve has disappeared.
Wu Blockchain, citing Polish outlet Onet, said Kral may be difficult to extradite due to Israeli citizenship. Kral reportedly said he cannot access roughly 4,500 BTC, stating the private keys were held by the exchange’s founder, Sylwester Suszek, who has been missing since 2022. Polish prosecutors reportedly consider the possibility that Suszek was killed.
Zondacrypto has halted withdrawals and management has stepped down, while Polish authorities have opened criminal and financial investigations into reserve controls and potential customer asset losses.
In the U.S., Tennessee moved to ban crypto ATM operations statewide. Odaily reported that Governor Bill Lee signed House Bill 2505, making Tennessee the second U.S. state after Indiana to impose a full ban.
The law is set to take effect July 1 and classifies crypto ATMs as “virtual currency self-service terminals.” Operating or installing one will be treated as a Class A misdemeanor, punishable by up to one year in jail and a $2,500 fine, and businesses that allow installation could also face liability.
Ethereum (ETH) spot ETFs also saw activity, though flows were mixed across products. On April 24 U.S. Eastern Time, total net inflows were reported at $23.39 million.
Total net assets across Ethereum spot ETFs were reported at $13.79 billion, about 4.91% of Ethereum’s market capitalization. Cumulative net inflows were reported at $12.10 billion.
In DeFi, Aave DAO published a proposal to contribute 25,000 ETH to recovery efforts following the Kelp rsETH bridge incident. Wu Blockchain reported that the plan would allocate a fixed contribution from the Aave DAO treasury to support DeFi United’s ongoing remediation.
The April 18 incident initially left an estimated shortfall of about 163,183 ETH, which has narrowed to roughly 75,081 ETH after asset freezes and expected recoveries were factored in. Support commitments totaling about 14,570 ETH have reportedly been secured so far, and Mantle has provided up to 30,000 ETH in credit.
Under the proposal, additional donations would be prioritized toward repaying Mantle’s loan, aiming to stabilize the rsETH ecosystem and demonstrate coordinated industry response after high-impact infrastructure failures.
On-chain watchers flagged potential short-term selling pressure after an early Ethereum ICO whale moved 10,000 ETH. PANews cited analyst AI Yi as saying the wallet transferred roughly $23.21 million worth of ETH to a multisig address (0x26c…B9392) after about a week of inactivity.
The receiving address reportedly served as an intermediary for large holders, with 12,001 ETH deposited to OKX via the address over the past two months. Analysts noted that in prior cases, ETH routed through the address often ended up on exchanges and was sold in batches.
Mastercard ($MA) joined the Blockchain Security Standards Council (BSSC), a nonprofit consortium focused on developing and maintaining blockchain security standards. PANews reported that Mastercard is also expected to participate in BSSC’s security and privacy working group, contributing operational experience and technical input.
Reported participants include Figment, Coinbase ($COIN), Fireblocks, and Anchorage Digital, reflecting a broader push to formalize security baselines as traditional finance deepens its engagement with crypto infrastructure.
In Latin America, Brazil moved to ban prediction markets and related betting platforms, with Kalshi and Polymarket reportedly blocked in the country. Wu Blockchain said Brazil’s central bank cited concerns that the platforms do not comply with derivatives rules and could threaten investor protection and market integrity.
Finance Minister Dario Durigan said the ban could cover around 28 platforms, extending Brazil’s crackdown on financialized betting services operating outside established regulatory frameworks.
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