How 2 Crypto Billionaires Power the Trump Token and Iran’s Sanctions Evasion

A Reuters investigation has uncovered a troubling intersection of cryptocurrency, politics, and international sanctions. Since 2023, Iran’s largest crypto exchange, Nobitex, has processed at least $2.3 billion in transactions that flow through Tron and BNB Chain , the same blockchain networks heavily backed by two of World Liberty Financial’s (WLF) most prominent early investors. While no party at WLF has been formally accused of knowledge or complicity, the findings raise serious questions about the transparency and regulatory oversight of crypto’s role in global finance.

The report, published Monday, traces how Nobitex has leveraged these specific blockchains to facilitate transactions that effectively bypass U. S. and international sanctions on Iran. The two billionaires behind WLF’s early support , both major figures in the crypto world , have built their fortunes and influence on platforms that now appear to enable sanctions evasion at scale.

This is not an isolated technical glitch. It represents a systemic vulnerability in the decentralized finance ecosystem. Tron and BNB Chain are among the most widely used networks for high-volume, low-cost transfers. Their adoption by Iran’s exchange underscores how crypto’s borderless nature can be exploited by state actors seeking to circumvent economic restrictions. The $2.3 billion figure is likely a conservative estimate, as it only captures on-chain flows that Reuters could track.

The connection to WLF is particularly sensitive given the political implications. WLF, a decentralized finance platform with ties to the Trump family, has positioned itself as a champion of financial freedom. Its early backers include two crypto billionaires who have publicly supported the project. The Reuters investigation does not suggest they knowingly aided Iran, but it does highlight the opaque supply chain of blockchain infrastructure. When the same networks that power a high-profile American crypto project also serve as a lifeline for a sanctioned nation’s exchange, the line between innovation and compliance blurs dangerously.

For regulators, this is a wake-up call. The Treasury Department and other watchdogs have struggled to keep pace with crypto’s evolution. While traditional banks have robust sanctions screening, blockchain networks often operate without similar guardrails. The Nobitex case shows how decentralized ledgers can be used to move billions of dollars with minimal friction , and minimal oversight.

The broader lesson is clear: the crypto industry must confront its role in enabling illicit finance. Whether through improved on-chain analytics, stricter compliance protocols, or international cooperation, the status quo is no longer tenable. For now, the $2.3 billion question remains unanswered: how many more exchanges and networks are quietly facilitating what the law forbids?