Iranian crypto exchange Nobitex reportedly processed billions of dollars through the Tron and BNB Chain networks while Tehran faced growing pressure from Western sanctions. According to blockchain analytics cited by Reuters, more than $2.3 billion moved through the two networks since early 2023.
The findings drew attention because the same blockchain ecosystems later became closely connected to World Liberty Financial, the crypto project backed by Donald Trump and members of his family. Tron founder Justin Sun and Binance co-founder Changpeng Zhao both emerged as major supporters of the project.
Reuters said there is no evidence that Trump or his family knew how Nobitex users were utilizing the networks.
Billions Reportedly Moved Through Tron And BNB Chain
Data from blockchain analytics firms Arkham and Elliptic showed that Nobitex relied heavily on Tron and BNB Chain to move funds outside traditional banking systems restricted by sanctions.
Researchers also alleged that the Central Bank of Iran transferred more than $500 million in the stablecoin Tether through the Tron network between late 2024 and mid-2025. Part of those funds reportedly flowed through Nobitex before being converted into other digital assets.
Analysts said some transactions connected to users linked with Iran’s Islamic Revolutionary Guard Corps were also identified on the exchange. Nobitex denied having direct ties to the Iranian government and said any illicit transfers happened without management knowledge.
Stablecoins Became Both A Compliance Tool And A Loophole
The report highlighted the unusual role of Tether’s USDT stablecoin in global sanctions enforcement. Unlike Bitcoin, USDT is centrally managed, meaning Tether can freeze wallets tied to sanctioned entities when requested by authorities.
That power was demonstrated in April 2026, when more than $344 million connected to Iranian-linked addresses on Tron was frozen.
At the same time, blockchain infrastructure itself remains decentralized. As long as a wallet is not blacklisted, transactions can continue moving across networks like Tron without direct approval from issuers or governments.
Analysts say this has turned stablecoins into both an enforcement mechanism and one of the most widely used tools for bypassing financial restrictions.
Trump-Linked Crypto Ties Drew New Attention
The Reuters investigation also examined growing connections between Binance, Tron and World Liberty Financial.
In early 2025, Abu Dhabi-based investment fund MGX reportedly used World Liberty’s USD1 stablecoin in a major Binance-related investment deal, helping legitimize the token within the broader crypto market.
Meanwhile, relations between World Liberty and Justin Sun later deteriorated. Sun filed a lawsuit against the company in 2026, accusing it of extortion, while World Liberty responded with a defamation claim.
Despite the legal dispute, Sun reportedly still controls billions of WLFI tokens connected to the project.
Representatives for both Tron and BNB Chain defended the decentralized nature of their networks, arguing that public blockchains cannot realistically monitor every transaction made by users worldwide.
The White House rejected suggestions that Trump’s business interests created any conflict involving Iranian financial activity, calling attempts to connect the president to Iran’s banking system “absurd.”
