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Blockchain analytics firm TRM Labs reports that the Islamic Revolutionary Guard Corps (IRGC) of Iran has transferred approximately $1 billion through two UK-registered crypto exchanges, Zedcex and Zedxion, since 2023 to evade international sanctions. IRGC-related transactions account for 56% of the total volume on both exchanges from 2023 to 2025, mostly using Tron network USDT. Funds grew from about $24 million in 2023 to $619 million in 2024 and $410 million in 2025. The two exchanges claim to comply with anti-money laundering regulations but did not respond to comments. (The Block)