Binance Battles Explosive Iran Claims in $1 Billion Allegation
The post Binance Battles Explosive Iran Claims in $1 Billion Allegation appeared on BitcoinEthereumNews.com.
Binance is forcefully rejecting allegations that its internal investigators uncovered more than $1 billion in Iran-linked transactions and were subsequently dismissed. The pushback escalates tensions between the world’s largest crypto exchange and sections of the financial press. Sponsored Sponsored Binance Rejects Allegations and Defends Compliance Record The controversy stems from a February 13 investigative report by Fortune, which alleged that compliance investigators identified over $1 billion in transactions tied to Iranian entities between March 2024 and August 2025. The transfers reportedly involved Tether (USDT) on the Tron blockchain, an ecosystem frequently scrutinized by regulators for sanctions-related activity. According to the report, at least five members of Binance’s compliance investigations team were dismissed after raising concerns internally. Several of the affected staff were described as senior investigators with law enforcement backgrounds. Additional compliance personnel were also said to have departed in recent months, though the precise reasons for their exits were not publicly confirmed. Binance Says “The Record Must Be Clear” In a public statement, Binance Co-CEO Richard Teng directly refuted the allegations. “The record must be clear. No sanctions violations were found, no investigators were fired for raising concerns, and Binance continues to meet its regulatory commitments. We’ve asked for corrections to recent reporting,” Teng wrote. Sponsored Sponsored In a formal letter addressed to Fortune, Binance Communications stated that the article contained “gross material inaccuracies and misleading implications.” The company articulated that: No personnel were terminated for reporting sanctions concerns. No personnel decisions or terminations are related to the reporting of alleged sanctions violations. Binance further asserted that a full internal review, conducted alongside external legal counsel, found no evidence of sanctions breaches related to the referenced activity. The letter emphasized that the exchange operates under whistleblower protections and strict employment laws across multiple jurisdictions. Binance also pushed back against…
Filed under: News - @ February 16, 2026 5:23 am