Full Breakdown
Trump Crypto Venture Linked to Iranian Sanctioned Flows via Tron and BNB Chain
5/22/2026, 6:48:48 AM
Background & Key Players
President Donald Trump returned to the White House in Jan 2025, and his family’s firm World Liberty Financial launched Oct 2024 with backing from Tron founder Justin Sun and Binance founder Changpeng Zhao. Tron and BNB Chain are blockchains. Iran’s crypto exchange Nobitex, run by two brothers linked to the supreme leader, serves Iran’s central bank and the IRGC.
Transaction Volumes
Nobitex processed $2.3 billion on Tron and BNB Chain since Jan 2023. During the Feb 2025 war, $317 million on BNB Chain and $550 k on Tron were transferred, including $22.6 million on BNB Chain. From 2018-2022, $7.8 billion flowed between Nobitex and Binance, three-quarters on Tron. Iran’s central bank bought >$500 million of Tether via Tron and sent $347 million to Nobitex via Tron in early 2025.
Official Statements & Responses
White House spokeswoman Anna Kelly called Reuters’ link “totally laughable.” World Liberty said it has no ties to Nobitex, does not own or control Tron, and complies with U.S. law. Binance said it does not operate BNB Chain, describing it as a permissionless blockchain maintained by validators; BNB Chain spokeswoman Ana Nicoara affirmed this. Tron’s spokeswoman said the platform cannot monitor every user or transaction, though it has helped freeze sanctions-linked funds. Tether said it froze wallet addresses linked to Nobitex at Israel’s request.
Criticism & Opposition
Former SEC Internet Enforcement chief John Reed Stark called the situation “dramatic irony,” noting the platforms fund entities the president seeks to defeat. Analysts confirm the $2.3 billion estimate but warn the true volume is higher. Critics argue World Liberty’s credibility, backed by Sun and Zhao, creates a conflict of interest as their networks enable sanctioned Iranian flows.
Conflicting Reports & Gaps
Reuters could not determine why the United States has not sanctioned Nobitex despite its role in evading sanctions. No comment was received from the Treasury, Iran’s government, or its central bank, and it is unclear whether Tron and BNB Chain were aware their ledgers were used for sanctioned Iranian transactions.
Verbatim Quotes
- “The entities doing crypto financing through these platforms are the very ones that the president is trying to defeat in the war.” — John Reed Stark, former SEC chief
- “Reuters’ bizarre attempts to link President Trump to Iran’s banking system are totally laughable,” — Anna Kelly, White House spokeswoman
- “BNB Chain is a public, permissionless blockchain maintained by an independent global community of validators,” — Ana Nicoara, BNB Chain spokeswoman
- “monitor and investigate every user and every transaction” or prevent their trading.” — Tron spokeswoman
What’s Next
Legal disputes between Sun and World Liberty may heighten scrutiny of the Trump-linked crypto ecosystem. Regulators may consider sanctions on Nobitex and examine compliance gaps in blockchains. Congressional committees have signaled interest in probing conflicts of interest tied to the president’s crypto holdings.
