US EditionCentral Bank of Iran (CBI) $507 million of Tether's USDT to underpin rial, report finds
Iran’s central bank bought $507 million in Tether stablecoin in April–May 2025 to support the rial and bypass banking sanctions, Elliptic reported.
- On Wednesday, Elliptic reported that the Central Bank of Iran acquired around $507 million in Tether's USDT stablecoin.
- Elliptic said the activity was identified following leaked documents, describing the USDT purchases as `a sophisticated strategy to bypass the global banking system` to support Iran's rial and trade.
- Human rights activists reported nearly 5,000 deaths amid unrest, with Iran's rial collapse linked to protests and scrutiny over Tether advocacy by Nigel Farage and donor Christopher Harborne.
- Reform UK and Tether issued statements defending compliance and control measures; Harborne's lawyers denied he profits from Iran's USDT use, while Tether cited its `zero tolerance policy` and past IRGC account freezes.
- Farage said he would raise the issue of Tether with Andrew Bailey, the Governor of the Bank of England, emphasizing stablecoins' role in crypto flow and London’s potential hub status.
29 Articles
29 Articles
Iran central bank used stablecoin backed by Farage, report says
Iran’s central bank has acquired around $507 million worth of cryptocurrency that has been publicly backed by the head of the UK’s far right Reform UK, according to a report. The report, published on Wednesday by crypto analytics firm Elliptic, found that several cryptoasset wallets used by Iran’s central bank had accumulated $507 million in Tether’s USDT stablecoin. Elliptic said the activity was identified following leaked documents detailing …
Iran’s Central Bank moves vast amounts of Tether Crypto, which Farage recommended to the Bank of England
A new report has revealed that Iran’s central bank is using huge amounts of cryptocurrency issued by the company Tether — an issuer of crypto assets. And guess who routinely sings the praises of Tether and its unregulated monopoly money? None other than the UK’s own Nigel Farage. The banks acquisition of these digital assets emerged in a widely-cited new report by Elliptic, a crypto compliance and forensic investigation firm. It claims that more…
The country's central bank circumvented sanctions and brought in foreign currency through purchases of Tether's USDT token.
Iranian Officials Funnel Money to Dubai Via Crypto
Nothing causes capital to flee offshore faster than an incoming war. US Treasury Secretary Scott Bessent warned that Iranian officials are rapidly moving capital out of Iran ahead of US intervention. “As Treasury who carries out the sanctions we can see is we are now seeing the rats fleeing the ship because we can see millions, tens of millions of dollars being wired out of the country, snuck out of the country by the Iranian leadership,” Bessen…
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