Recent on-chain data reveals that Novitex, Iran’s largest cryptocurrency exchange, has processed over $2.3 billion in transactions using Tron (TRX) and BNB Chain since 2023. This is notable because both Tron and Binance, which operates BNB Chain, are connected to supporters of Donald Trump’s crypto venture, World Liberty Financial.

According to a Reuters report citing data from Arkham Intelligence, Novitex has handled roughly $2 billion on the Tron network and at least $317 million on BNB Chain since 2023. These transfers continued even after the U.S. and Israel became militarily involved with Iran. Since February of last year alone, about $22.6 million in cryptocurrency on BNB Chain and $550,000 on Tron have moved through Novitex.

The exchange has been a key player in helping Iran bypass international sanctions. Between 2018 and 2022, nearly $7.8 billion in virtual assets moved between Novitex and Binance, mostly Tron-based tokens.

Political connections raise eyebrows

Tron was founded by Justin Sun, and Binance was founded by Changpeng Zhao. Both Sun and Binance have emerged as significant financial backers of World Liberty Financial, the crypto project tied to Donald Trump and his family. Reuters found no evidence that Trump or his family knew about Novitex’s use of these networks, but the situation does create a potential conflict between U.S. policy toward Iran and Trump’s business interests.

The problem is straightforward: even as the U.S. government confronts Iran and maintains strict sanctions, the blockchain networks linked to Trump’s associates are still helping move Iranian crypto funds. It’s a messy overlap of politics, finance, and sanctions enforcement.

How this fits into the bigger picture

This isn’t just a technical detail about blockchain routing. It shows how decentralized finance can create headaches for policymakers. Sanctions rely on controlling traditional banking channels, but crypto offers alternative paths. When those paths are tied to politically connected figures, the lines get blurry.

For now, there’s no indication that U.S. authorities will act on this information. But it does highlight how quickly crypto can entangle itself with global politics and personal business interests. It’s a reminder that following the money in crypto often leads to unexpected places.

*This is not investment advice*