Binance Refutes Claims Of Regulatory Missteps And Staff Dismissals
Binance and news reporters are locking horns over a set of serious claims that have put more heat on the exchange’s compliance record. The matter centers on alleged transfers tied to Iran and on the treatment of staff who flagged those moves. At stake is how a giant platform handles risk when past missteps still hang over it.
Allegations And Denials Collide
According to reporting by Fortune, internal teams found more than $1 billion in transfers linked to Iranian entities that moved through the exchange between March 2024 and August 2025.
The pieces named stablecoin flows on the network run by Tron and pointed to a familiar issuer, Tether.
Reports say several investigators who documented those flows were later let go. That claim, if true, would raise questions about how warnings from inside a company are handled.
Binance pushed back hard. The platform, represented by its leadership, called the claims false and said a full internal review with outside counsel found no sanctions breaches.
“This is categorically false. No investigator was dismissed for raising compliance concerns or for reporting potential sanctions issues as there are no violations,” the exchange disclosed in an email circulated by Binance CEO, Richard Teng.
The response noted that none of the wallets in question were sanctioned at the time the activity took place. Still, critics say the real test is evidence and outside oversight, not statements from either side.
Questions Around Internal Reviews
A separate set of reporting by Financial Times added fuel to the debate last December by showing internal data that, according to that outlet, suggested suspicious accounts continued to move big sums after Binance’s 2023 settlement with US authorities.
That 2023 agreement led to a $4.3 billion penalty and to changes in leadership. The firm’s founder, Changpeng Zhao, later faced legal consequences.
Legal experts say there is a meaningful legal line between knowingly processing funds tied to sanctioned entities and handling transactions that later turn out to be problematic.
Records and timestamps matter. So do who knew what, and when they knew it. In this case, the exchange says internal checks found no violations and that monitoring continues under the terms of its US settlement.
Regulators Watch CloselyReports note that the story adds to an ongoing narrative: big crypto firms operating under close scrutiny, where any hint of lax controls draws attention.
This dispute may end with more documentation, an independent probe, or simply with each side standing by its version.
Featured image from Shutterstock, chart from TradingView
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