Binance Denies WSJ Accusations on Iranian Sanctions Exposure

Binance has entered into a high-profile dispute with the Wall Street Journal over a report alleging the exchange's involvement in breaching Iranian sanctions. According to Binance's CEO Richard Teng, the publication's article contains defamatory claims that are not supported by verified facts.

The Wall Street Journal reported that $1.7 billion in cryptocurrency activity was tied to entities operating under Iranian sanctions on Binance's platform. However, Teng disputes this claim, stating that the exchange has made significant strides in reducing its exposure to sanctions-related activities.

Binance cites a 96.8% drop in sanctions-related exposure between January 2024 and July 2025 as evidence of its efforts to address compliance issues. The exchange also pointed out that it has invested hundreds of millions of dollars into personnel and systems over recent years, including hiring more than 1,500 people for compliance roles.