The department responsible for combating terrorism financing at the US Treasury has reported that financial institutions have identified potential cryptocurrency transactions worth $165 million that may be related to Hamas. According to a letter signed by Adewale Adeyemo, Deputy Secretary of the Treasury, the Financial Crimes Enforcement Network analyzed suspicious activity reports submitted between January 2020 and October 2023. FinCEN found that more than 200 cryptocurrency addresses may have been used in these transactions.