Wallets seized by OFAC may not be Iranian; other state actors instead: Analyst

Burns Brief

Treasury Secretary Scott Bessent said that wallets the US targeted as part of Operation Economic Fury were linked to Tehran, but analysis of the wallets' characteristics suggests otherwise Market participants are carefully weighing the implications, with the outcome likely to depend on broader macro conditions and volume. Watch for volume confirmation — a breakout above average volume would signal the trend is likely to continue.