So, is Langzi really starting to collect $BTC as protection money? Previously, Iran offered insurance to ships in the Strait of Hormuz, accepting Bitcoin premiums in exchange for vessel inspections, seizures, and confiscations. The May News Agency reported that the goal was to reach $10 billion. Yet yesterday, the U.S. Treasury sanctioned BitBank, the exchange collecting the payments, accusing it of transferring hundreds of millions of dollars to the Revolutionary Guard. Four months later, even if we assume $900 million collected, that’s still only 9% of the target—apparently, collecting protection money isn’t so easy. Blame Trump! 🫢
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