Behind the collective strike of Tehran's Grand Bazaar merchants lies an out-of-control currency crisis. The Iranian rial black market exchange rate has fallen to 1 USD = 1,400,000 rials, compared to 70 rials per dollar in the 1980s, representing a depreciation of 99.95% over 35 years. How terrifying is this figure? Your savings have almost vanished in just a few decades.

Central Bank Governor Mohammad Reza Farzin chose to resign, in a way taking responsibility for this financial chaos. But the problems go far beyond that. Since the regional conflict erupted in June 2025, Iran's currency has lost 40% of its value. Capital flight has intensified, the credit market has frozen, and the economy faces a double blow.

Even more severe is the crisis within the banking system itself. State-owned banks are effectively bankrupt, directly affecting the deposits of approximately 42 million customers. The central bank also named eight other banks facing dissolution risks. This is not an isolated incident of a single institution but a chain collapse of the entire financial ecosystem.

In such an environment, the public has begun seeking alternative options. Physical gold coins have become a traditional hedge, but what is truly noteworthy is the role played by crypto assets — serving as a last refuge. When central bank trust collapses and the banking system fails, decentralized assets offer a certain level of certainty. However, this also exposes a fundamental issue: the risk of infrastructure breakdown. Liquidity in crypto markets, exchange security, and network stability could all become new bottlenecks.

Financial crises often cycle in this manner. When traditional systems fail, people turn to alternatives; the risks of these alternatives can trigger new problems. Iran's situation reminds us that financial resilience requires not only asset diversification but also the true stability of the entire ecosystem.