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US-sanctioned Iranian tycoon linked to $850M sanctions evasion operation on Binance
A US-sanctioned Iranian businessman, known to be adept at evading international sanctions, has reportedly been linked to operations using crypto to help Iran finance its armed forces and circumvent sanctions. Babak Zanjani is believed to be involved in processing finances for the Islamic Revolutionary Guard Corps (IRGC). So far, they have carried out about $850 million in crypto transactions on Binance over the past 2 years using a single trading account. According to reports, the account has been operational for at least 15 months. Babak Zanjani tied to major crypto transactions, helping the IRGC According to internal compliance documents obtained from Binance, in addition to blockchain analysis and information from law enforcement officials, these transactions included both deposits and withdrawals. As investigators assessed the potential role of an account in the country’s terrorist financing activities, they found that nearly half of those transactions, worth about $425 million, were for the country’s military. Reports said that Zanjani’s network included accounts held by his sister, girlfriend and company director, and were accessed by sharing devices. The transactions were linked to Zanjani’s crypto business Zedcex, which moved the proceeds from the sale of Iranian oil through banks in Turkey to Binance accounts of its Dubai subsidiary. The transfers were then transferred to other exchanges such as Nobitex in Iran to exchange the funds to rials. Despite several red flags raised by internal investigators, Binance reportedly proceeded with completing these transactions. These included Iranian involvement and connections, as well as access from Tehran. T he main account is still alive. Binance is under investigation for processing Iranian financial transactions despite promised reforms. Further, there have been other instances not covered by the exchange in which Iran’s central bank transferred $107 million via Binance accounts in 2025, while direct transactions with Binance totaled $260 million between 2024 and 2025. How did Babak Zanjani get on the US’s sanction radar? Zanjani initially rose to fame as a sanctions buster through oil transactions that made him rich. In 2013, the United States imposed sanctions on Zanjani for the use of a Malaysian bank in transferring billions of dollars on behalf of the Iranian regime. Sanctions were suspended in 2016 in the wake of the nuclear agreement but reinstated in 2026 following his role in facilitating financial transfers to the IRGC through crypto exchanges, among other actions related to his management of Zedcex. Zanjani was tried in Iran and sentenced to death in 2016 for his embezzlement, a sentence that was overturned in 2024. He remains locked in a legal tussle with the Iranian central bank over unpaid loans. In December, he posted wallet addresses on social media and inadvertently revealed details of a broader sanctions-avoidance framework based on Nobitex. Zanjani describes himself as an “antisanction operator” and an “economic Basij soldier”, publicly endorsing blockchain technology to evade Western financial institutions. His spokesman denies accusations of money laundering and sanctions evasion through crypto exchanges. Iran ups crypto strategy amid heightened tensions Iran holds a significant amount of crypto assets, estimated to be $7.7 billion, to cope with sanctions. The IRGC funnels nearly $3 billion in crypto through digital channels. Among other things, this involves the use of cryptocurrencies for oil trade payments, including payments for shipping tankers through the Strait of Hormuz. As reported by Cryptopolitan, Iran has launched a new crypto-backed maritime insurance scheme called Hormuz Safe, intended to protect ships transiting the strategically important Strait of Hormuz. Incepted in mid-May 2026, this Bitcoin-supported initiative aims to serve Iranian shipping businesses and cargo owners moving across this extremely vital energy artery. As it stands, the DOJ has seized nearly half a billion dollars’ worth of crypto linked to Iran. Warnings have been issued regarding IRGC involvement with crypto. In particular, the USDZ stablecoin created by Iran has been mentioned. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

Cryptopolitan 2026-05-23 16:56
Bitcoin “No One Cares” Phase Could Set Stage for Sharp Rebound, Analysts Say
Bitcoin may be entering the type of low-attention environment that has historically preceded some of its strongest rebounds, according to market commentators analyzing on-chain data. In a tweet, Rand Group pointed to Bitcoin’s Sell-Side Risk Ratio chart, arguing that periods when “no one cares about Bitcoin” have repeatedly marked market bottoms and explosive recoveries. Visit Website

The Crypto Basic 2026-05-23 16:53
Bitcoin Slides as Coinbase Bitcoin Premium Index Signals Reduced Institutional Accumulation
The Coinbase bitcoin premium index has fallen to its lowest level in a month, with analysts warning that intensified institutional selling is adding significant weight to BTC’s near-term price outlook. What the Data Shows The Coinbase bitcoin premium, an index measuring the price difference between bitcoin traded on Coinbase (used predominantly by U.S. institutional investors)

Bitcoin.com 2026-05-23 16:32
Btc drops 3 percent to $74,720 as 60,000 support debated
🚨 $BTC fell 3 percent in 24 hours to $74,720 after heated debate on the $60,000 support line. Peter Schiff warned this level is not solid and may be a “trap door”. 📉 Critical data: Many investors see $71,400 as the new key support in $BTC. Continue Reading: Btc drops 3 percent to $74,720 as 60,000 support debated The post Btc drops 3 percent to $74,720 as 60,000 support debated appeared first on COINTURK NEWS .

CoinTurk News 2026-05-23 16:15
Bitcoin Price Analysis: BTC Risks Deeper Correction Below $74K
Bitcoin is trading in a volatile but technically fragile range on Saturday as bearish pressure from Friday evening’s whiplash continues to dominate higher time frames despite selective short-term recovery attempts. Traders are monitoring whether the leading crypto asset can stabilize above the critical $74,000 support zone after a sharp retreat from recent highs near $82,833.

Bitcoin.com 2026-05-23 16:05
Bitcoin Spot Demand Falls At Fastest Rate Since January — What’s Happening?
The price of Bitcoin has been under significant downward pressure over the past week, and the f alling spot demand might be one of the factors behind the downturn, according to a CryptoQuant head of research. Bitcoin Apparent Demand Falls To -40K BTC In a May 22nd post on the X platform, CryptoQuant’s Head of Research, Julio Moreno, revealed that Bitcoin spot demand has been declining over the past few weeks. This on-chain observation comes as the premier cryptocurrency appears to be struggling under significant bearish pressure. The relevant indicator here is the Apparent Demand metric, which tracks demand by comparing newly mined BTC to the amount of unmoved coin over a period. The on-chain metric provides insight into investor appetite and can be used to decipher different market phases, especially in the long term. Using this metric as an anchor, Moreno revealed that the Bitcoin spot demand is falling at the fastest pace since January 10th. When the Apparent Demand indicator contracted in early January, the Bitcoin price dipped to around the $90,000 mark before rebounding to $98,000 (alongside the demand). However, the Apparent Demand was in a massive downturn for most of the first quarter before turning around in early April. Accompanied by a commensurate rise in the price of Bitcoin, the coin’s demand in the spot market improved for most of the previous month. As observed in the chart above, the on-chain metric has declined to its lowest level since early January. CryptoQuant data show that the 30-day sum of Apparent Demand is around -40,000 BTC. While it is difficult to pinpoint the exact cause of the recent downturn in BTC spot demand, the poor performance of US-based exchange-traded funds might be a good place to start. Nevertheless, when questioned about the contribution of the spot Bitcoin ETFs to this trend, Moreno answered that the exchange-traded funds account for only a small fraction of BTC’s demand growth. Coinbase Premium Falls To Lowest Level Since February At the same time, the Coinbase Premium Gap, which offers insight into institutional investor appetite in the US, also supports the thesis of waning demand in the Bitcoin spot market. According to CryptoQuant data highlighted by Maartunn, Coinbase, the US’s largest cryptocurrency exchange, is witnessing its most significant selling pressure since February. This evident decline in demand has coincided with the latest dip in Bitcoin’s price. Hence, it goes without saying that investor appetite in the spot market needs to improve for the premier cryptocurrency to recover in price. As of this writing, the price of BTC sits around $75,600, reflecting a 2.5% slump in the past day.

Bitcoinist 2026-05-23 16:00
History Shows Bitcoin ETF Outflows Favor Accumulation, Says Santiment
Six straight days of outflows from US spot Bitcoin ETFs — totaling $1.26 billion — are drawing attention not for the losses they represent, but for what history suggests might come next. What The Data Shows Blockchain analytics firm Santiment says these outflows should be read as a counter-signal rather than a warning. According to the firm, ETF flows reflect retail investor behavior more than institutional positioning, which means sustained outflows tend to mark bottoms rather than the start of deeper slides. Related Reading: New Bitcoin Lows? Analysts Say Chances Are ‘Extremely Slim’ Santiment pointed to a consistent pattern: large inflow spikes have historically landed near price tops, while heavy outflow periods have lined up with buying opportunities. The numbers support the argument. On July 10, 2025, spot Bitcoin ETFs recorded $1.18 billion in inflows — a period that coincided with a local price top. October 6, 2025 brought $1.21 billion in inflows, and prices peaked around the same time. On the other side, $903 million in outflows hit on November 20, 2025, a moment that proved well-timed for buyers. Based on this track record, Santiment says the current outflow streak fits the same mold — retail investors cutting exposure after Bitcoin failed to hold $80,000 in May, hitting a high of $79,050 on May 16 before pulling back. Retail Fear, Not Institutional Exit Bitcoin was trading at $75,400 when Santiment published its report on Friday, May 22. The firm described the current climate as the highest level of market fear seen in more than 3.5 months. Rather than treating that as cause for alarm, Santiment framed it as a familiar setup — retail capitulation that has historically reset conditions ahead of recoveries. Spot Bitcoin ETFs recorded outflows across each of the six trading sessions from May 15 through May 22, according to Farside Investors data. The 11 funds tracked collectively posted $1.26 billion in net outflows during just five of those sessions. On May 22 alone, total net outflows came to $105 million, according to SoSoValue data, extending the outflow streak to six consecutive days. Related Reading: Bitcoin Treasury Company Nakamoto Takes Action To Prevent Stock Slide ETF Analyst Sees Recovery Ahead ETF analyst James Seyffart offered a separate reason for optimism. Speaking on a podcast, Seyffart noted that total Bitcoin ETF inflows are approaching their all-time high of $60 billion and that most of the $9 billion in outflows recorded between October and February has since been recouped. He expects the all-time inflow record to break in the near term. Featured image from Unsplash, chart from TradingView

NewsBTC 2026-05-23 16:00
Bitcoin drops below $86,000 2-year average as price holds at $75,318
🚨 $BTC slips under $86,000 2-year average, now trading at $75,318. Many see this drop as a new long-term buying zone in $BTC. Continue Reading: Bitcoin drops below $86,000 2-year average as price holds at $75,318 The post Bitcoin drops below $86,000 2-year average as price holds at $75,318 appeared first on COINTURK NEWS .

CoinTurk News 2026-05-23 15:57
SEC Greenlights Nasdaq’s Cash-Settled Bitcoin Index Options, CFTC Approval Is the Final Hurdle
The U.S. Securities and Exchange Commission has approved Nasdaq to list cash-settled bitcoin index options on the Philadelphia Stock Exchange, opening a new derivatives gateway for institutional investors who want regulated bitcoin exposure without custody complications. What Cash-Settled Means And Why It Matters The Securities and Exchange Commission (SEC) approved Nasdaq’s application to list European-style,

Bitcoin.com 2026-05-23 15:05
Historical Performance Says Bitcoin Price Will Not Bottom Until It Touches This Level
Crypto analyst Chain Mind has indicated that the Bitcoin price has yet to bottom. He alluded to historical performance, which shows that BTC has never bottomed without touching the EMA 300. Bitcoin Price Unlikely To Bottom Before Touching This Level In an X post, Chain Mind indicated that the Bitcoin price is unlikely to bottom out without first touching the EMA300. He noted that BTC has never bottomed without touching this level, as it did in 2020 and 2022, when it tagged the weekly EMA300 right before the cycle low. Specifically, Bitcoin’s bottom came 10% below the EMA in 2020 and 15% in 2022. Related Reading: Bitcoin Is Repeating This Midterm Pattern That Sends Price Tumbling 15% On Average The analyst noted that in this cycle, the Bitcoin price bounced from $60,000 without ever reaching the EMA, suggesting the real bottom isn’t in. He added that if the pattern repeats, BTC must drop to around $58,000, marking the last bottom in this bear cycle. In another X post, the analyst indicated that BTC was mirroring the price action during the 2022 bear market. This came as he revealed that the Bitcoin price had just rejected the 200MA, a move that also occurred in 2022. He explained that this confirms the bearish macro structure after BTC tagged the 200D MA again at $82,000. As such, if the 2022 pattern repeats, the leading crypto must drop 40% to 60% from the rejection point. He added that this means that the real cycle bottom must be around the $50,000 to $55,000 range. Bitcoin is once again in a downtrend after failing to hold above the psychological $80,000 level. This comes amid bearish catalysts such as the US-Iran war, rising inflation, and bets of a Fed rate hike this year. BTC’s latest decline came after the SEC delayed its approval of tokenized stocks. The Plan Remains The Same For BTC Crypto analyst Kaleo declared that the plan remains the same for the Bitcoin price despite traders on Kalshi betting against a rally to $100,000 this year. He urged market participants to zoom out and be more bullish. As for what could happen, he predicts a retest in the lower $70,000 range, then a rebound to between $80,000 and $90,000, and a range there for the summer. Related Reading: If You’re Looking To Bitcoin Above $90,000, This Analyst Says To Watch This Bearish OB Level Once that happens, the analyst predicts that the Bitcoin price will then rally above $100,000 and reach a new all-time high (ATH) in the fall and winter. Notably, the CLARITY Act could pass between now and then, which could spark a massive rally for the leading crypto. At the time of writing, the Bitcoin price is trading at around $75,400, down over 2% in the last 24 hours, according to data from CoinMarketCap. Featured image from Getty Images, chart from Tradingview.com

NewsBTC 2026-05-23 14:30
French-Moroccan man sentenced to 25 years in prison for France crypto kidnaps
A French-Moroccan man convicted of organizing some of the recent daring kidnappings of crypto figures in France has been sentenced to 25 years in prison. The news comes amid a growing debate in French society over the massive number of data leaks in the country that are compromising personal security. Moroccan court sends crypto kidnapper to prison The Court of Appeal in the Moroccan city of Tangier gave Mohamed Hamid Bajou the harsh sentence on Thursday, May 21, local and French media reported. The 25-year-old man is the alleged mastermind of a gang that committed a series of brazen abductions of wealthy individuals in France, including prominent people from the crypto space. Bajou was facing serious charges, the French crypto information portal Journal du Coin noted in an article on Saturday, quoting a post by the Moroccan news website Tanja7 from Friday. These included establishing a criminal group, kidnapping, unlawful detention and torture for ransom, attempted premeditated murder, illegal possession of firearms, and drug trafficking. One of Bajou’s victims was David Balland, a co-founder of Ledger , the French company known for its popular hardware cryptocurrency wallets. The crypto entrepreneur was abducted in January 2025 along with his female partner at their home in Central France. The attackers demanded a 10-million-euro ransom, and Balland had a finger cut off before the couple was rescued by the French police. This was not the only such case. Another crypto executive, kidnapped in May 2025, also lost a finger before his release. The Moroccan court ordered Bajou to pay 1 million dirhams (nearly $110,000) to each of the individuals known to have been targeted by his gang. Convicted kidnapper denies all charges Mohamed Bajou was arrested in Tangier in June last year. He was wanted under a Red Notice issued by Interpol on the request of French authorities. At the time, media reports identified him as “Badiss Mohamed Amide Bajjou.” During a search at his home, Moroccan law enforcement found a whole arsenal of bladed weapons, hidden in the apartment’s ventilation ducts. At the time, the Moroccan prosecutor leading the probe stated that the suspect posed a serious threat, noting that he was evidently planning his next move. Investigators added that seized messages and other analyzed correspondence indicated he was indeed the mastermind of the kidnapping operation. However, Bajou denied all charges during the subsequent trial. He maintained he left France and settled in Morocco , where he worked on his grandfather’s farm. He insisted that the accusations against him were based on false statements made by a cousin, who was allegedly motivated by a family conflict. Mohamed Bajou also disputed the authorities’ claims that the victims had formally identified him before he was implicated. Data leaks blamed for string of kidnappings France has been hit by a wave of kidnappings of crypto figures and their family members since last year. The attacks are continuing despite multiple arrests . The public debate over what’s causing the phenomenon has been growing, with Telegram founder Pavel Durov recently warning that leaks of personal data may be putting crypto holders at risk. Bajou will certainly be succeeded by someone else until more than 6,000 leaks a year continue to fuel black markets for such information, Journal du Coin remarked in its piece, adding: “A stolen file containing an address, estimated net worth, and lifestyle habits is enough to transform a Bitcoin holder into an operational target.” All the attackers need is one such file, an address, and a weapon, the French crypto website noted, calling to condemn the “digital negligence” that made this possible. In his post in late April, Durov, who holds a French passport, alleged that tax officials in France are “selling crypto owners’ data to criminals,” on top of “massive tax database leaks.” The smartest crypto minds already read our newsletter. Want in? Join them .

Cryptopolitan 2026-05-23 14:12
Btc faces key test at 75,000 with $82,000 in sight
🚨 $BTC is facing a crucial test at $75,000 as liquidity builds. Bulls must defend $74,400–$74,900 and reclaim $78,100 for a rebound. 📊 Key point: A break below support opens the door to sharper declines. Continue Reading: Btc faces key test at 75,000 with $82,000 in sight The post Btc faces key test at 75,000 with $82,000 in sight appeared first on COINTURK NEWS .

CoinTurk News 2026-05-23 13:43

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