Jump to 10:50 and Barbara tells how Bessent grabbed crypto from Iran and it now runs up to $1B. I thought that crypto was secure, that nobody could get to your stash of coin because of the intense security.
Leo says "The U.S. did not "crack" the encryption of the Bitcoin network. Instead, it exploited the centralization of the stablecoin industry (Tether) and the regulatory compliance of cryptocurrency exchanges to freeze and seize assets. By designating the wallets and the platforms holding them as sanctioned entities, the Treasury effectively locked the funds, preventing the Iranian regime from accessing the estimated $1 billion in digital assets."
Based on recent reports from mid-2026, the U.S. Treasury Department, under Secretary Scott Bessent, seized approximately $1 billion in cryptocurrency linked to Iran through a coordinated campaign known as "Operation Economic Fury." The seizure was not a single technical hack of the Bitcoin blockchain, but rather a multi-pronged strategy targeting the centralized points of control within the crypto ecosystem that Iran relied upon to evade sanctions.
Sounds like Bessent went knocking on Bitcoins front door and said, Play ball or we will do something to you. What am I missing.
Easy.
Force them to hand over.
Then simply sweep the wallet clean even if the wallet is self custody.
Done and dusted.
That’s why I prefer tangible money. Come take it from me. You’re not gonna freeze me out.
Jump to 10:50 and Barbara tells how Bessent grabbed crypto from Iran and it now runs up to $1B. I thought that crypto was secure, that nobody could get to your stash of coin because of the intense security.
Leo says "The U.S. did not "crack" the encryption of the Bitcoin network. Instead, it exploited the centralization of the stablecoin industry (Tether) and the regulatory compliance of cryptocurrency exchanges to freeze and seize assets. By designating the wallets and the platforms holding them as sanctioned entities, the Treasury effectively locked the funds, preventing the Iranian regime from accessing the estimated $1 billion in digital assets."
Based on recent reports from mid-2026, the U.S. Treasury Department, under Secretary Scott Bessent, seized approximately $1 billion in cryptocurrency linked to Iran through a coordinated campaign known as "Operation Economic Fury." The seizure was not a single technical hack of the Bitcoin blockchain, but rather a multi-pronged strategy targeting the centralized points of control within the crypto ecosystem that Iran relied upon to evade sanctions.
Sounds like Bessent went knocking on Bitcoins front door and said, Play ball or we will do something to you. What am I missing.
not knocking on "bitcoin's" front door... but the iran exchanges. Sanctions on those exchanges and frozen assets in those exchanges.