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TRM Labs Flags $1 Billion USDT Flow Through UK Crypto Firms Tied to Iran's IRGC
According to TRM Labs' forthcoming 2026 Crypto Crime Report, UK-registered exchanges Zedcex and Zedxion operated as a single platform that routed about USD 1 billion, mostly in USDT on TRON, through wallets linked to Iran's Islamic Revolutionary Guard Corps. The analysis shows that IRGC-associated activity dominated Zedcex's flows in 2023, 2024, and 2025, including more than USD 10 million in late 2024 reportedly transferred directly to an OFAC-designated Houthi financier without intermediaries. TRM argues this case illustrates how offshore crypto exchanges can become long-term sanctions-evasion infrastructure rather than one-off laundering channels.
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Anti-crypto advocacy group targets DeFi in Fox News ads ahead of CLARITY Act vote
In early January 2026, crypto reporter Eleanor Terrett reported that a newly formed group called Investors For Transparency began running prime-time Fox News ads urging opposition to DeFi-related provisions in the CLARITY Act. The campaign portrays decentralized finance as a regulatory threat, drawing criticism from industry figures who question the group's anonymous backing and warn that applying traditional banking rules to DeFi could damage the $120 billion decentralized lending market.
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