CENTCOM Chief Cooper Says U.S. Froze $350M in Iranian Crypto as Blockade Costs Tehran $25B

Published October 17, 2026, 18:15 PKT. Based on a video statement by U.S. Central Command chief Adm. Brad Cooper, released October 16, 2026 (primary source), and Axios's October 16, 2026 reporting on that statement (secondary source).

U.S. Central Command chief Adm. Brad Cooper said the United States has frozen nearly $350 million in Iranian cryptocurrency assets in recent weeks, as a U.S. naval blockade he says has cost Tehran at least $25 billion in lost oil revenue tightens the economic pressure on Iran's government.

The $350 million crypto freeze

Cooper said CENTCOM worked "in close coordination with U.S. agency partners" to hit Iran's finances in three areas, Axios reported on October 16. The crypto freeze came alongside a much larger claim: the naval blockade has prevented Iran from exporting at least $25 billion worth of crude oil in recent months. Axios reported that the U.S. Treasury Department worked with CENTCOM on the $350 million crypto freeze.

The figure is the first public number on actual U.S. crypto seizures against Iran since MABOnChain reported on October 10 that Treasury Secretary Scott Bessent said the U.S. would probably seize about $1 billion in Iran-linked crypto "this week." Cooper's $350 million puts that pledge about a third of the way there, though U.S. officials have not said which assets were frozen or through which channels.

Militias funding the IRGC in reverse

Cooper said the financial strain had become so severe that Iran-aligned militias, including Hezbollah, Hamas and Shiite militias in Iraq, were withholding payments from their own fighters to funnel money back to Iran's Islamic Revolutionary Guard Corps, the organization that funded those groups for years. "The financial strain on Iran's military has become so significant that there are reports about Iran-aligned militia groups across the region withholding payments for their soldiers in order to funnel money back to the IRGC, which also isn't paying its troops," Cooper said in the video statement, according to Axios.

Hormuz attacks blamed on IRGC "desperation"

Cooper attributed a rise in Iranian attacks on commercial shipping in the Strait of Hormuz to desperation within the IRGC, Axios reported. He stressed that the waterway remained open: about 400 merchant ships transited the strait over the previous week, and U.S. forces helped Gulf partners move more than 100 million barrels of crude oil through it in that period, adding to more than 1.3 billion barrels assisted in recent months.

Axios also reported that CENTCOM has mostly paused strikes on Iranian military positions threatening the strait in recent weeks, on a White House order meant to avoid escalation before the U.S. midterm elections. A U.S. official told Axios that President Donald Trump ordered the pause as his approval rating dipped to 38%, according to NBC News polling.

A U.S. counterproposal awaits Tehran

The Trump administration is keeping the economic pressure on Iran to force a deal, Axios reported. The White House and Qatari mediators are waiting on Iran's response to a U.S. counterproposal aimed at ending the conflict, which has now run for nine months.

For crypto markets, the freeze shows how far U.S. sanctions enforcement now reaches into digital assets. It follows October reporting that an Iranian network moved $850 million through Binance accounts, and a Justice Department review of whether Binance breached its $4.3 billion 2023 settlement, both covered by MABOnChain.

This article is news reporting and is not investment advice.

Sources

• U.S. Central Command, video statement by Adm. Brad Cooper, released October 16, 2026, primary source: Cooper's claim that the U.S. froze nearly $350 million in Iranian cryptocurrency assets in recent weeks; the naval blockade prevented at least $25 billion in Iranian crude exports; Iran-aligned militias are withholding fighters' payments to fund the IRGC, which is not paying its own troops; increased Hormuz attacks reflect IRGC desperation
• Axios, October 16, 2026, secondary source (via NewsBeep reprint): CENTCOM and the Treasury Department froze $350 million in Iranian crypto in recent weeks; $25 billion in lost Iranian oil revenue; militias including Hezbollah, Hamas and Iraqi militias sending money back to the IRGC; 400 ships and 100 million barrels through Hormuz in one week; CENTCOM mostly paused strikes on Iranian positions on White House order ahead of the midterms; White House and Qatari mediators await Iran's response to a U.S. counterproposal
• ANI via Devdiscourse, October 17, 2026, secondary source: Cooper's three-area financial campaign with U.S. agency partners; Iran withholding salaries, pensions and benefits from public sector workers; IRGC claim of a mine strike on an "illegal supertanker" carrying two million barrels
• Azernews, October 17, 2026, secondary source: Cooper's $25 billion oil revenue figure and the $350 million crypto freeze claim