The US seized $1 billion worth of Iranian cryptocurrency.

President Donald Trump and Treasury Secretary Scott Bessent at a White House cryptocurrency summit in Washington. Photo: Reuters .

According to CNN on May 29, speaking at the Reagan National Economic Forum, Bessent asserted that US authorities had complete control over Iranian digital wallets, while many account holders may still be unaware that their access has been revoked.

Regarding this issue, US State Department spokesman Tommy Pigott said Washington had just dismantled a technology fraud network run by Ali Majd Sepehr (in Iran).

Mr. Bessent stated that the US economic pressure campaign against Iran, dubbed "Operation Economic Fury," has dealt a heavy blow to the country.

Speaking to FOX Business , the US Treasury Secretary said: "I think that after about five to six weeks of military action, combined with Operation Economic Fury aimed at blocking trade resources, their finances are in dire straits. Inflation in Iran has probably exceeded 200%."

This move comes amid escalating financial and economic sanctions between the two countries across multiple sectors.

The US Treasury Department has just added the Persian Gulf Strait Administration (PGSA) – a new organization established by Iran to control shipping through the Strait of Hormuz – to its sanctions list.

The US accuses this of being an attempt by Iran's Islamic Revolutionary Guard Corps (IRGC) to impose transit fees on ships in order to raise funds.

Additionally, the US Treasury Department is offering a reward of up to $15 million for information leading to the disruption of the funding sources of Iran's Islamic Revolutionary Guard Corps (IRGC).

In response to Washington's decision, PGSA criticized it as "piracy," and declared that US sanctions would not gain control of the strait. The organization also affirmed that it would continue to maintain its shipping surveillance activities in the region.

On the same day, in Washington, President Donald Trump concluded a 2.5-hour emergency meeting with his national security team in the Situation Room to review a potential agreement to end the war with Iran.

Although the White House has not yet announced a final decision, a government official confirmed that Trump will only sign an agreement that maximizes U.S. interests, meets established "red lines," and completely prevents Iran from acquiring nuclear weapons.

Against this backdrop, the U.S. Central Command (CENTCOM) – the unit responsible for the war against Iran – stated that U.S. forces maintain a high level of presence and vigilance throughout the Middle East. On the social media platform X, CENTCOM also posted images of F-16 fighter jets conducting patrol missions over the region.