How Trump's crypto venture and Iran's top exchange tapped into the same industry networks
Iran's largest crypto exchange, Nobitex, has processed over $2.3 billion in transactions using Tron and BNB Chain, which are linked to prominent figures in the crypto industry. The involvement of these blockchains raises questions about potential conflicts of interest for Donald Trump's business ventures. Despite the administration's denial of any wrongdoing, the situation highlights the complexities of cryptocurrency's role in international finance amid ongoing geopolitical tensions.
- ▪Nobitex has processed at least $2.3 billion since 2023 on Tron and BNB Chain.
- ▪The Trump family is connected to World Liberty Financial, which is backed by the same crypto billionaires.
- ▪Nobitex is used extensively by sanctioned Iranian institutions and has ties to the Islamic Revolutionary Guard Corps.
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When customers of Iran’s largest crypto exchange needed to move billions of dollars, networks created by two of the industry’s biggest players served as conduits.And from the early stages of U.S. President Donald Trump’s flagship digital currency venture, the same two players lent credibility to the startup. According to data analysed by Reuters, Iran’s Nobitex exchange has processed at least $2.3 billion since 2023 on Tron and BNB Chain, blockchains established respectively under crypto billionaires Justin Sun and Changpeng Zhao. Users of Tron and BNB Chain pay fees to use the blockchains, which serve as secure, tamper-resistant record keepers.Iranian money has kept moving through those two digital ledgers during the U.S.
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