Iran’s Crypto Activity Reaches $7.78 Billion As IRGC Dominates Late 2025, Protesters Shift to Bitcoin

Chainalysis says IRGC-linked receipts topped half of quarterly inflows, with reported figures reflecting only identified sanctioned addresses.

Overview

Chainalysis estimates Iran’s 2025 on-chain volume at about $7.78 billion, marking faster growth than in 2024.
During late-December protests and a nationwide internet blackout, withdrawals from local exchanges to personal Bitcoin wallets jumped.
IRGC-associated addresses took in over 50% of the value received in Q4 2025, indicating a growing share of Iran’s crypto ecosystem.
On-chain receipts tied to IRGC-linked wallets rose from more than $2 billion in 2024 to over $3 billion in 2025.
The firm characterizes IRGC figures as lower bounds limited to OFAC- and NBCTF-designated wallets, excluding likely unidentified intermediaries.