I break down the Treasury’s claim that it seized $1B of Iran’s "crypto" and explain why this was actually Tether, not Bitcoin – and why that distinction matters.

I digs into how stablecoins, ETFs, and exchanges recreate the same centralized, confiscable banking system, contrasted with true Bitcoin self-custody.

When you consider Iran, Russia, and Afghanistan as case studies, it is clear that every other reserve asset becomes politicized. The writing is on the wall for centralised finance, and the world will be forced onto Bitcoin because it is the only neutral money that simply keeps working.

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