Iran is gearing up for what may be one of the largest state funerals in its modern history. Ayatollah Ali Khamenei, who ruled the Islamic Republic for 37 years, is finally being laid to rest months after his assassination, and the geopolitical aftershocks are still reverberating through financial markets, crypto included.
Khamenei was killed on February 28, 2026, during joint US-Israeli airstrikes. He was 86 years old. Iranian state media confirmed his death the following day, March 1, triggering an immediate 40-day national mourning period and a seven-day public holiday.
A funeral delayed by war
The grand funeral ceremony, now expected to begin in early July, was pushed back for months due to ongoing military operations in the region. Preparations have intensified since late June. Large portraits of Khamenei have been installed at Tehran’s Grand Mosalla, the city’s massive prayer complex. State agencies have been coordinating what is shaping up to be a multi-day farewell ceremony, with Iranian state media suggesting at least three days of formal observances.
Khamenei ascended to power in 1989, making him one of the longest-serving leaders in the Middle East at the time of his death.
