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The U.S. Treasury Department has sanctioned four Iranian cryptocurrency exchanges and several executives, accusing them of assisting in evading sanctions

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced that it has added Iran's largest cryptocurrency exchange Nobitex, as well as three Iranian cryptocurrency exchanges Wallex, Bitpin, and Ramzinex, to its sanctions list, and imposed sanctions on Nobitex's chairman and co-founder Amir Hossein Rad, current CEO Seyed Ali Khoee, and several co-founders and executives.The U.S. Treasury accused Nobitex of processing over 50% of Iran's cryptocurrency inflows in 2025 and providing support for transactions related to the Islamic Revolutionary Guard Corps (IRGC), ransomware organizations, and sanction evasion activities. It also assisted the Central Bank of Iran in obtaining hundreds of millions of dollars in stablecoin funding. U.S. officials stated that after U.S. military actions against Iran, Nobitex helped transfer and protect the assets of the Iranian regime.In addition, the Treasury stated that Iran's second-largest cryptocurrency exchange Wallex, as well as Bitpin and Ramzinex, were also found to have links to transactions related to the IRGC. Among them, Wallex received about 12% of Iran's cryptocurrency inflows in 2025, Bitpin accounted for about 10%, while Ramzinex, established in 2018, has processed over $2.45 billion in transactions.This action is part of the Trump administration's "Economic Fury" strategy to exert maximum pressure on Iran. The U.S. Treasury stated that it will continue to combat Iran's use of digital assets for terrorist financing and sanction evasion and reserves the right to impose secondary sanctions on foreign financial institutions and companies that assist Iran's illegal trade.

The cryptocurrency market is at a critical juncture, with Bitcoin testing the $75,000 support, diverging from the trends of the US stock market

The cryptocurrency market was at a critical juncture on Wednesday. After failing to break through $78,000 on Tuesday, Bitcoin's price has fallen below the $76,000 "bear market boundary" defined by Tom Lee, now approaching the support level of $75,000. Ethereum also retreated after reaching $2,150 on Tuesday, falling towards the $2,000 support, and then rebounding around $2,050. AI concept tokens RENDER, FET, and NEAR have given back most of their gains from Tuesday.Market performance diverges significantly from U.S. stocks. The S&P 500 and Nasdaq 100 index futures both hit all-time highs, rising about 0.3%. In the derivatives market, cryptocurrency futures trading volume surged 54% to $201 billion within 24 hours, with liquidation volume skyrocketing by 87%, but this mainly reflects the market's restart after the U.S. holiday. Bitcoin open interest climbed to 740,000, with a negative cumulative trading volume difference over 24 hours, indicating that traders are actively shorting through market orders. Ethereum's open interest reached a historic high of 15.57 million, but the trading volume difference is also negative, suggesting that traders are shorting contracts to bet on deeper declines after the critical technical support trendline was breached. The 30-day implied volatility index for Bitcoin rebounded from a year-to-date low, rising nearly 3% to 37.35%, indicating that the market is beginning to seek protection against potential price declines.
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