Crypto exchange Binance may have funded Iranian entities, reports say
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A report alleges that cryptocurrency exchange Binance may have funded Iranian entities with billions of dollars. Internal investigators reportedly discovered that Iranian individuals accessed over 1,500 Binance accounts, with some funds allegedly going to Iranian-backed groups, including Yemen's Houthi militants, in 2024 and 2025. These investigators reported the transactions to Binance executives but were allegedly disciplined, with some being fired or suspended. Binance denies violating sanctions laws and dismissing employees for raising compliance concerns. The allegations surfaced before Donald Trump pardoned Binance founder Changpeng Zhao, who had pleaded guilty to money laundering and resigned in 2023. Binance also pleaded guilty in 2023 and agreed to internal monitoring and fines, vowing to pursue bad actors using its platform, including those from Iran.
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Key Claims (5)
AI-ExtractedZhao pled guilty to money laundering and resigned from Binance in 2023.
Binance spokesperson said the company “did not violate sanctions laws in respect of the transactions described”.
People in Iran accessed more than 1,500 accounts on the Binance platform.
$1.7bn moved to Iranian-backed groups that included Yemen’s Houthi militants throughout 2024 and 2025.
Binance may have funded Iranian entities with billions of dollars.
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