Binance Disputes WSJ Claims of $850M Iran-Linked Crypto Transactions

Binance has pushed back against allegations made by the Wall Street Journal that it processed $850 million in transactions linked to an Iranian financier, Babak Zanjani.

The exchange's CEO, Zhao Richard Teng, responded to the claims on social media platform X, stating that Binance never allowed transactions with sanctioned individuals and that flagged activity occurred before sanctions were imposed.

Binance has a history of regulatory scrutiny, having pleaded guilty in 2023 to anti-money-laundering and sanctions-violations charges and paying a record $4.3 billion fine.