New data reveals that Novitex, Iran’s largest cryptocurrency exchange, has processed at least $2.3 billion through Tron (TRX) and BNB Chain since 2023. This connects American political figures to Iranian financial flows amid U.S. sanctions.
Big Numbers on Two Networks
According to Reuters, citing data from on-chain analytics firm Arkham, Novitex processed roughly $2 billion on Tron and $317 million on BNB Chain. Transactions continued even after U.S. and Israeli military operations against Iran. Since February 2024, about $22.6 million worth of crypto on BNB Chain and $550,000 on Tron moved via Novitex.
Between 2018 and 2022, around $7.8 billion in virtual assets moved between Novitex and Binance, mostly Tron-based assets. The report also named Novitex as a key exchange for bypassing sanctions in Iran.
The Trump Connection
Tron was founded by Justin Sun, and BNB Chain is run by Binance, founded by Changpeng Zhao. Both are notable supporters of World Liberty Financial, the crypto venture of Donald Trump and his family. Reuters found no evidence that Trump or his family knew Nobitex used these networks. Still, the situation raises questions about potential conflicts between U.S. Iran policy and Trump family business ties.
Conflict of Interest Concerns
As the U.S. government confronts Iran and enforces sanctions, blockchain networks tied to Trump’s associates keep processing Iranian crypto flows. This might create tricky policy conflicts. The situation highlights how decentralized finance can blur borders and politics.
