Treasury crackdown exposes crypto's role in $2 million Hamas fundraising network

The action is the latest indication that U.S. authorities are focusing on crypto’s role inside wider fundraising and payment networks, rather than portraying it as Hamas’s primary funding source. Treasury officials have previously said Hamas and other groups still rely mainly on conventional finance, despite previously already being levied crypto-related sanctions and seizures.

It also follows reports last month that the Al-Qassam Brigades advised donors to avoid sending funds directly from Binance and instead use other crypto services before moving money to a TRON wallet.

The new sanctions block any property or interests in property held by the designated people and organizations under U.S. jurisdiction. People in the United States are generally barred from transacting with them, while foreign financial institutions that knowingly facilitate significant transactions could face secondary sanctions risk. The restrictions also extend to companies owned 50% or more, directly or indirectly, by one or more designated parties.

“Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public,” said Treasury Secretary Scott Bessent.