Bitcoin has become an “element of resistance" in Iran, providing liquidity in an increasingly restricted economic environment, says Chainalysis. Crypto usage in Iran has spiked amid the country’s mass protests, with a surge of Iranians withdrawing Bitcoin to preserve value amid instability, according to Chainalysis. Protests in Iran began around Dec. 28 over worsening economic conditions, after the Iranian rial hit record lows against the US dollar. Demonstrations escalated nationwide, with Iran’s regime responding by cutting internet access, carrying out mass arrests, and reportedly killing thousands. Chainalysis said in a report on Thursday that Iran’s crypto ecosystem hit $7.78 billion in 2025, which accelerated amid the ongoing unrest with a substantial increase in the number of daily crypto transfers and the amounts transacted. Read more
The US on Thursday imposed sanctions on five Iranian officials it accused of being behind the crackdown on protests and said it was tracking Iranian leaders’ funds being wired to international banks, as President Donald Trump keeps the pressure on Tehran. The US Treasury Department in a statement said it imposed sanctions on the secretary of the Supreme Council for National Security as well as Islamic Revolutionary Guard corps and law enforcement forces commanders, accusing them of being architects of the crackdown. The US also imposed sanctions on Fardis Prison, where the State Department said women had “endured cruel, inhuman, and degrading treatment.” Treasury Secretary Scott Bessent in a video on Thursday said Washington’s message to Iran’s leaders was clear: “US Treasury knows, that like rats on a sinking ship, you are frantically wiring funds stolen from Iranian families to banks and financial institutions around the world. Rest assured, we will track them and you. “But there’s still time, if you choose...