Binance Demands Wall Street Journal Remove 'Damaging' Article

Cryptocurrency exchange Binance has issued a demand to the Wall Street Journal (WSJ) to remove an article that it considers 'damaging' and 'defamatory'. The article in question alleges that Binance fired investigators who discovered $1 billion worth of crypto being sent to Iran-linked wallets.

The WSJ claims that its investigation found evidence of suspicious transactions, including a series of wallet transfers valued at over $1 billion. According to the WSJ, these transactions were linked to Blessed Trust, a Hong Kong-based company suspected of breaching US sanctions on Iran.

Binance has denied any wrongdoing and claims that the article contains 'false information' and 'defamatory imputations'. The exchange is demanding that the WSJ retract its article until corrections are made, stating that it must update the piece to avoid further action. However, it does not explicitly threaten legal action.

The controversy surrounding Binance's alleged sanctions-busting activities has sparked a heated debate in the cryptocurrency community, with many questioning the exchange's commitment to compliance and transparency. The WSJ's investigation also raises concerns about the exchange's handling of internal investigations and its treatment of employees who report suspicious activity.