Binance Faces US Investigation Over Alleged Iran and Russia Ties

A high-profile investigation has been launched into Binance, one of the world's largest cryptocurrency exchanges, over allegations that it facilitated transactions linked to Iran and Russia.

According to reports, Binance processed over $1.7 billion in transactions connected to entities under US sanctions. This includes dealings with two partners, Hexa Whale and Blessed Trust, which allegedly facilitated trades with Iranian government-linked entities.

The investigation has been prompted by a letter from Senator Richard Blumenthal, ranking member of the Senate Permanent Subcommittee on Investigations, requesting documents and internal records regarding Binance's compliance with sanctions regulations.