Binance Denies Wall Street Journal Allegations of $850 Million Iran-Related Transactions

According to Cointelegraph, Binance CEO Richard Teng denied a Wall Street Journal report claiming that the platform processed approximately $850 million in Iran-related transactions ultimately destined for the Islamic Revolutionary Guard Corps (IRGC), calling the report “completely inaccurate.” The report stated that Babak Zanjani—a figure recently re-sanctioned by the U.S.—and his associated network transferred funds via Binance accounts over a two-year period. Richard Teng stated that Binance has never permitted sanctioned individuals to trade on its platform, and any flagged activity occurred prior to the imposition of U.S. sanctions. Previously, the Wall Street Journal also reported that Binance’s internal compliance team had issued multiple alerts regarding these accounts.