Overview
- Iran’s largest crypto exchange, Nobitex, processed at least $2.3 billion since 2023 on Tron and BNB Chain, including about $2 billion on Tron and $317 million on BNB, according to a Reuters analysis.
- Justin Sun and Binance, which are tied to Tron and BNB, are prominent backers of World Liberty Financial, a crypto firm co-founded by the Trump family.
- World Liberty said it has no relationship with Nobitex and does not control Tron, and the White House called attempts to link the president to Iran’s banking system laughable.
- The investigation traced over $800 million in Tether’s USDT to wallets linked to Iran’s central bank and the Revolutionary Guard, with funds routed through over-the-counter brokers into Turkey and the United Arab Emirates.
- Tether froze about $344 million in USDT linked to Iranian activity, and analysts warned the $2.3 billion tally may be low due to weak customer checks at Nobitex and off-chain intermediaries that obscure flows.