A new report found that the Houthis have built a sophisticated crypto financing network, using USDT on the TRON blockchain to move money, evade sanctions, and fund weapons, drones, and military operations.

Funding reportedly comes from Iranian-linked transfers, crypto mining, extortion, and “protection fees” imposed on Red Sea shipping, with funds funneled through rotating wallets and weakly regulated exchanges before being converted into cash. - YNET