[News Brief] Apr 22, morning | U.S. Treasury Sanctions Iran-Linked Crypto Wallets and Freezes $344 Million

The U.S. Treasury said it has sanctioned multiple cryptocurrency wallets linked to Iran and frozen $344 million worth of crypto assets.

According to Odaily, U.S. Treasury Secretary Scott Bessent said the Treasury is tracking and disrupting financial networks associated with the Iranian regime. Earlier, Tether announced that it had assisted the U.S. government in freezing $344 million worth of crypto held at two addresses.

Chainalysis analyzed the wallets and said their activity patterns were similar to the on-chain fund flows of wallets associated with Iran’s Islamic Revolutionary Guard Corps (IRGC). U.S. authorities said blockchain analysis showed the funds were routed through intermediary addresses and transacted with wallets linked to Iran’s central bank, and that there were indications they were used for sanctions evasion and to facilitate international trade.

As background, Iran’s crypto holdings in 2025 were estimated at $7.8 billion, with IRGC holdings accounting for about 50% of that total as of the fourth quarter of last year.

U.S. spot Bitcoin ETFs recorded net inflows of $14,448,900 on April 24 (U.S. Eastern Time), extending their streak of inflows to nine consecutive trading days, Odaily reported.

According to the report, BlackRock’s IBIT saw the largest net inflow that day, attracting $22,879,000. It was followed by MSBT, which drew $11,129,400.

Meanwhile, the product with the largest net outflow was ARKB from Ark Invest and 21Shares, which saw $9,016,000 leave the fund.

The total net assets of spot Bitcoin ETFs currently stand at $102.637 billion. The ETF net asset ratio is 6.6% of Bitcoin’s total market capitalization, and cumulative net inflows have reached $58.564 billion.

Capital flows into spot Bitcoin ETFs are widely viewed as an indicator of institutional investor demand. As inflows have continued recently, market attention to Bitcoin supply and demand dynamics has also increased.

President Trump is scheduled to speak at a Bitcoin and digital asset conference at Mar-a-Lago later that day, according to a post by Pete Rizzo on X.

According to the source, the speech is being interpreted as a sign that Bitcoin and digital assets continue to hold a significant place on the U.S. policy agenda.

Trump has previously referred on multiple occasions during the election campaign and after taking office to the need to foster the digital asset industry and provide regulatory clarity.

Reports said Przemyslaw Kral, CEO of Polish cryptocurrency exchange Zondacrypto, has left for Israel, while the exchange is facing bankruptcy. About 99% of its Bitcoin reserves are reportedly missing, and total losses could exceed $100 million.

Wu Blockchain, citing Polish media outlet Onet, said Kral may be difficult to extradite because he holds Israeli citizenship. Kral claimed he could not access about 4,500 BTC and said the private keys were held by founder Sylwester Suszek.

Suszek has been missing since 2022, and Polish prosecutors believe he may have been murdered. Zondacrypto has now halted withdrawals, and its management has stepped down.

Polish authorities have launched criminal and financial investigations into the matter. The key issues include inadequate reserve management and whether customer assets were lost.

The U.S. state of Tennessee has imposed a statewide ban on cryptocurrency ATM operations.

According to Odaily, Tennessee Governor Bill Lee signed the relevant bill (HB 2505), making Tennessee the second U.S. state after Indiana to implement a full ban.

The law will take effect on July 1. Under the bill, installing or operating a Bitcoin ATM, classified as a “virtual currency self-service terminal,” is punishable as a Class A misdemeanor, carrying up to one year in jail and a fine of up to $2,500. Stores that allow such machines to be installed may also bear legal responsibility.

Previously, many U.S. states had strengthened regulation of crypto ATMs through licensing requirements and transaction limits. However, an outright ban remains rare and is being interpreted as part of a stronger crackdown on scam risks involving crypto ATMs.

According to Odaily, the total net inflow into spot Ethereum ETFs on April 24 (U.S. Eastern Time) was $23,380,807.

The product with the largest net inflow that day was BlackRock’s ETHB, which attracted $32,252,000. ETHB’s cumulative net inflow also reached $32,252,000.

By contrast, BlackRock’s ETHA posted the largest net outflow of the day at $7,714,000. ETHA’s cumulative net outflow stands at $28,664,100.

The total net assets of spot Ethereum ETFs are currently $13.791 billion, representing 4.91% of Ethereum’s market capitalization. Cumulative net inflows stand at $12.099 billion.

Aave DAO has unveiled a proposal to contribute 25,000 ETH to ongoing recovery efforts following the Kelp rsETH bridge incident.

According to Wu Blockchain, the proposal aims to support DeFi United’s recovery efforts by allocating a fixed contribution of 25,000 ETH from the Aave DAO treasury.

Following the Kelp rsETH bridge incident on April 18, the initial shortfall was estimated at about 163,183 ETH. After accounting for asset freezes and expected recoveries, the current deficit has been reduced to about 75,081 ETH.

So far, support commitments totaling about 14,570 ETH have been secured, and Mantle has already provided a credit facility of up to 30,000 ETH. Under the proposal, any additional donations would first be used to repay Mantle’s loan.

The measure is being advanced as part of efforts to restore confidence in the rsETH ecosystem and coordinate an industry-wide DeFi response.

An early whale that participated in Ethereum’s 2015 ICO transferred another 10,000 ETH, raising concerns about short-term selling pressure.

According to PANews on the 25th, on-chain analyst AI Yi said the whale, after about a week of inactivity, moved 10,000 ETH worth approximately $23.21 million to the multisig address 0x26c…B9392.

The receiving address is known as an intermediary transfer address commonly used by whales. Over the past two months, a total of 12,001 ETH has been deposited to OKX through this address, and most ETH previously sent there was later moved to exchanges and sold in bulk.

The whale’s average acquisition cost was reportedly about $0.31 per ETH. The market is closely watching whether this transfer will also be followed by selling.

Mastercard has joined the Blockchain Security Standards Council (BSSC), a nonprofit consortium responsible for developing and maintaining blockchain security standards.

According to PANews on the 25th, Mastercard will also participate in the BSSC’s Security and Privacy Working Group, where it plans to provide technical guidance and operational experience.

According to the source, other BSSC participants include Figment, Coinbase, Fireblocks, and Anchorage Digital. Mastercard’s participation is seen as part of a broader trend of traditional payment companies becoming more involved in blockchain security standard discussions.

Brazil has imposed a full ban on prediction markets and related betting platforms, blocking Kalshi and Polymarket in the country.

According to @WuBlockchain, Brazil’s central bank said these platforms do not comply with derivatives regulations and could pose risks to investor protection and market integrity. Finance Minister Dario Durigan said the ban applies to about 28 platforms.

The move is viewed as part of a broader effort by Brazilian authorities to tighten control over unregulated financial betting services.