Iran's largest private bank, Ayandeh Bank, has gone bankrupt! 42 million customers are affected, and the massive losses and debts are difficult for the Central Bank to rescue.

One of Iran's largest private banks, Ayandeh Bank, has officially declared bankruptcy, with the assets of 42 million customers transferred to state-owned banks. This incident exposes the vulnerability of Iran's financial system and highlights the potential value of decentralized currencies like Bitcoin. (Background: Swiss crypto bank Sygnum partners with Debifi to launch Bitcoin lending platform MultiSYG, focusing on allowing users to retain asset control.) (Additional context: Citibank to launch crypto asset custody in 2026! Major financial institutions fully embrace blockchain.) Ayandeh Bank, one of Iran's largest private banks, officially declared bankruptcy on October 25. This bank, with 270 branches and approximately 42 million customers, dissolved due to accumulated massive losses and debts, with its assets fully transferred to Bank Melli Iran. Causes of bankruptcy: Debt and regulatory failures. The bankruptcy of Ayandeh Bank was not a sudden event but the result of years of accumulated problems, including: Massive losses and debts: The bank accumulated approximately 500 trillion rials (about 5.2 billion USD) in losses, equivalent to 314 times its registered capital, along with 290 trillion rials (about 3 billion USD) in debts. High-risk lending: Over 90% of the bank's resources were lent to projects related to shareholders, such as Iran Mall, or associated companies with political and economic power, most of which failed to repay the loans. External economic pressures: International sanctions blocked Iran's access to the global financial network, limiting dollar transactions; at the same time, the Iranian rial continuously depreciated, with an inflation rate as high as 40%, further undermining the bank's financial foundation. Inadequate regulation: The Central Bank of Iran's repeated attempts to rescue the bank were unsuccessful, indicating a long-term lack of oversight on private banks. Ultimately, the Central Bank revoked Ayandeh Bank's operating license according to the Currency and Banking Act. Impact on customers and employees. The bankruptcy of Ayandeh Bank has significantly affected its 42 million customers and 5,000 employees: For customers, the Governor of the Central Bank of Iran, Mohammad Reza Farzin, assured that customers could immediately withdraw deposits through the former Ayandeh Bank branches (now under Bank Melli Iran) without suffering losses. However, long queues have formed outside the Tehran branch, with police present to maintain order, indicating a loss of public trust in the banking system; for employees, they can retain their jobs and transition to Bank Melli Iran, ensuring their livelihoods temporarily; for shareholders, such as founder Ali Ansari, they must clear debts with liquid assets. It is worth mentioning that Ayandeh Bank's bankruptcy is not just an isolated incident but may trigger a chain reaction in Iran's financial system: First, the impact on the banking sector, with this bankruptcy accounting for about 2% of Iran's GDP, potentially affecting other private banks such as Sarmayeh, Roz, Sepah, Iran Zamin, and Mellat. The Central Bank of Iran warned that eight more banks face dissolution risks if they do not reform. Second, the economic impact, as public trust in banks further declines, may trigger a bank run and exacerbate inflationary pressures. Experts point out that without structural reforms, such as increasing loan transparency, systemic bankruptcy risks will continue to rise. The resurgence of Bitcoin's value? The bankruptcy of Ayandeh Bank once again highlights the vulnerability of the traditional banking system, which was one of the motivations behind Satoshi Nakamoto's creation of Bitcoin. The message embedded in the Genesis Block of Bitcoin references the 2008 UK government bail-out of banks, indicating that its original design aimed to provide a decentralized financial alternative, free from bank risks and government interventions. Additionally, following the outbreak of the US local bank crisis in early 2023 (such as the bankruptcy of Silicon Valley Bank), Bitcoin's price surged, reflecting the public's increasingly fragile trust in traditional banks. Related reports: Swiss crypto bank Sygnum partners with Debifi to launch Bitcoin lending platform MultiSYG, focusing on allowing users to retain asset control. Standard Chartered: The clearing of 19 billion in the crypto market is a good thing, paving the way for Bitcoin to surge to 200,000 USD. Sony applies to the US Office of the Comptroller of the Currency for a 'crypto bank license,' targeting stablecoin issuance and custody. This article was first published in BlockTempo, 'The Most Influential Blockchain News Media.'