TLDR
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Binance CEO denies WSJ claims, citing pre-sanction transactions and full oversight.
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Alleged Iran-linked crypto flows on Binance occurred before sanctions, CEO says.
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Binance CEO highlights strengthened compliance and zero-tolerance for illicit activity.
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WSJ report on Zanjani network misrepresents Binance’s internal monitoring practices.
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CEO emphasizes cooperation with U.S. authorities and enhanced compliance protocols.
Binance CEO Richard Teng has publicly rejected claims that the exchange facilitated Iran-linked crypto transactions. The Wall Street Journal reported that Iranian financier Babak Zanjani used Binance accounts to move roughly $850 million over two years. Teng argued the reporting misrepresented the timing and compliance context of the alleged transactions.
Network Activity and Compliance Review
Binance CEO confirmed that the transactions occurred before the individuals were sanctioned. The exchange had proactively investigated the activity before the WSJ reached out. Internal review flagged multiple accounts, but they were assessed in line with compliance procedures.
Additional accounts linked to Zanjani, including family and associates, were accessed from the same devices. Binance CEO noted that the accounts’ activity fell under normal pre-sanction monitoring. Compliance tools tracked all transaction patterns and alerted the internal team.
The DOJ has investigated potential Iran-related activity on Binance. Treasury officials also cited over $1 billion allegedly linked to Iran in 2024 and 2025. Binance CEO emphasized continued cooperation with U.S. authorities to ensure adherence to all regulations.
Binance’s Legal and Regulatory Context
Binance CEO highlighted the ongoing defamation lawsuit against the WSJ. The lawsuit disputes prior claims regarding Iran-linked flows and compliance staff actions. The exchange maintains that prior reporting contained inaccuracies about its internal controls.
In 2023, Binance pleaded guilty to U.S. anti-money-laundering and sanctions violations. The company agreed to a $4.3 billion settlement and accepted an independent compliance monitor. Binance CEO has overseen updates to monitoring and verification processes since that resolution.
Sanctions exposure reportedly dropped 96.8% between January 2024 and July 2025. More than 1,500 employees now support compliance, investigations, and risk management functions. Binance CEO stressed the exchange’s zero-tolerance policy for illicit financial activity.
Strengthened Controls and Operational Transparency
Binance CEO underscored the platform’s ongoing monitoring improvements. The company processes tens of thousands of law-enforcement requests annually. Recovery of funds linked to illicit activity is part of broader risk management measures.
The exchange implements over 25 monitoring tools to screen transactions and users. Binance CEO clarified that no transactions with sanctioned individuals are permitted. User verification checks and geographic restrictions reinforce platform safeguards.
Teng stated that internal reviews had been shared with the WSJ prior to publication. The reported figures and account links were described as contextually misleading. Binance CEO reiterated that all activity aligns with regulatory expectations and internal compliance standards.
Binance CEO maintains that the platform enforces rigorous anti-money-laundering protocols. The exchange continues active collaboration with global authorities. Leadership emphasizes transparency, compliance, and accountability across all operations.
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