Teng’s Fierce Response to WSJ’s Binance Claim: ALT Analysis

Binance’s Response to WSJ Iran Claim from Richard Teng

Binance CEO Richard Teng criticized the Wall Street Journal’s (WSJ) report claiming that the crypto exchange facilitated $1.7 billion in digital asset transfers linked to Iran as “wrong and defamatory.” Teng stated that in a letter sent by the exchange’s legal team to the WSJ editor, they demanded the article be corrected and fully retracted. The letter emphasized that the report defamed the exchange and misled readers.

WSJ reporters Patricia Kowsmann, Angus Berwick, and Ben Foldy’s article published on Monday claimed that Binance internal investigators reported $1 billion in crypto being transferred to Iran-backed terror groups, but top management fired these investigators. On the same day, The New York Times similarly described the $1.7 billion transfer as a sanctions violation. Binance argued that their responses to the journalists’ questions were not included in the reports and directed to a blog post introducing the exchange’s compliance program. Fortune magazine had also published similar sanctions violation claims on February 13, which Binance rejected as “completely false.” Former CEO Changpeng Zhao announced at a Trump family-backed World Liberty Financial event that Binance.US plans to do more business in the US; Zhao had served 4 months in prison after the 2023 settlement and was pardoned by Trump.

Tuesday letter from Binance lawyers to the Wall Street Journal. Source: Richard Teng

WLFI Developments: USD1 Attack and Market Pressure

WLFI announced this morning on its X account that a coordinated attack was launched against the USD1 stablecoin. WLFI’s USD1 pair fell to $0.9924 in the last hour. This development created unease in the market amid CZ’s statements at the WLFI event and Binance sanctions discussions, affecting altcoins like ALT.

ALT Technical Outlook: Supports Nearby

ALT price at $0.01, 24h change -0.41%. RSI 31 (Oversold), downtrend dominant, Supertrend bearish, EMA20 $0.0085. For ALT spot analysis, supports are strong:

• S1: 0,0071$ (77/100 ⭐ Strong, -3,14% distance)
• S2: 0,0066$ (67/100 ⭐ Strong, -9,96%)

Resistances: R1 0,0074$ (+0,95%), R2 0,0082$ (+11,87%). ALT futures and detailed analysis recommended. Despite market pressure, RSI may give a bottom signal.