Crypto’s Biggest Exchange Fights Back Against Allegations of Moving Billions of Iran-Linked Money

Crypto’s biggest exchange fights back against allegations of moving billions of Iran-linked money

Binance hires outside counsel to demand a retraction from the WSJ over Iran sanctions reporting, as the NYT publishes similar claims about over $1 billion transfers

Lawmakers Demand Records From Binance in Iran and Russia Probe

Key Takeaways Senator Richard Blumenthal launched a formal Senate investigation into Binance over alleged sanctions violations. Lawmakers are examining claims the exchange processed $1.7 billion tied to Iranian entities and Russia’s shadow oil fleet. Binance denies wrongdoing and says it has significantly strengthened compliance since its 2023 settlement. The probe adds new political and regulatory pressure on the crypto industry ahead of poten…

Sen. Blumenthal probes Binance over alleged $1.7 billion in crypto Iran-linked transactions

U.S. Senator Richard Blumenthal, a top Democrat on the Senate Homeland Security Committee, on Tuesday opened a probe into alleged sanctions violations at crypto exchange Binance, the New York Times reported on Wednesday. Blumenthal, who represents Connecticut, sent Binance a letter asking about the $1.7 billion allegedly transferred from accounts on the platform to Iran-linked organizations, including Yemen’s Houthi militants. The violations wer…

Binance Denies Firing Own Team Over Iran Sanctions Report

It was reported that Binance’s own team found over 1,500 accounts connected to Iran. Some of those wallets were allegedly linked to Iran’s Revolutionary Guard. Binance says the actions weren’t about compliance, but the mishandling of internal data. Binance is pushing back hard against reports claiming it fired staff who found approximately $1.7 billion in crypto moving to Iranian-linked accounts. The exchange says the stories are wrong and that …

Did Crypto Exchange Binance Fund Iranian Entities? Here Is Everything We Know

The latest controversy around Binance began quietly inside the company. According to investigations first detailed by The New York Times and The Wall Street Journal, a group of internal compliance investigators at Binance discovered that entities linked to Iran had gained access to more than 1,500 accounts on the exchange.  As they dug deeper, they reportedly found that roughly $1.7 billion in crypto transactions had flowed from two accounts to …