The US military conducted strikes against Iranian military targets on July 15, aiming to protect the critical Strait of Hormuz shipping lane. The action caused an immediate market reaction.
Bitcoin dropped over 2% to around $62,000, with approximately $350 million in digital asset liquidations. The price later stabilized near $63,800.
The following day, the US Treasury sanctioned four crypto wallets linked to Iran's central bank. In a coordinated action, Tether froze about $131 million in USDT on TRON-based addresses connected to those entities.
This event highlights how stablecoin issuers are now active enforcers of US sanctions policy. It also confirms Iran has been using crypto infrastructure, specifically TRON-based USDT, to move money.
The market fallout underscores Bitcoin's current behavior as a risk asset, declining sharply on geopolitical shocks before attempting a recovery. The Treasury's swift crypto enforcement demonstrates the expanding reach of financial sanctions into digital markets.