Inside Iran’s Growing $7.8 Billion Crypto Ecosystem
TL;DR
- Iran’s crypto ecosystem reached over $7.78 billion in 2025, having grown at a faster pace for most of the year compared to the year prior.
- Iranian cryptocurrency activity is correlated to political events and conflict at home and abroad.
- The IRGC’s on-chain activity represents approximately 50% of Iran’s total crypto ecosystem in Q4 of 2025 and has steadily increased its share over time, mirroring its dominance in Iran’s economy more broadly.
- During the recent mass protests, Iranians have significantly increased withdrawals of Bitcoin to personal wallets, possibly as a flight to safety amid currency collapse and political instability
Against the backdrop of Iran’s increasingly beleaguered regime, facing…
