Journalist
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Binance’s exchange problems are far from resolved. The platform now faces allegations of compliance failure, the same type of issue that previously led to a $4 billion fine and the imprisonment of its founder, Changpeng Zhao (CZ), in 2024.
According to a Fortune reportBinance has fired investigators who allegedly found evidence of billion-dollar transactions in 2025 linked to sanctioned Iranian entities on the platform.
But the exchange distanced itself from the report, with CZ call this is “paid FUD” or the work of an “unhappy” ex-employee.
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Likewise, the current CEO of Binance, Richard Teng, called the report is “irresponsible,” but adds that compliance is a never-ending effort.
“This is especially true with the increasing sophistication of bad actors who use tools and techniques to avoid detection. We will continue our tireless efforts to combat illicit crimes and maintain global integrity.”
Iran’s crypto booms attract US attention
Interestingly, Binance’s 2023 plea agreement allowed the Department of Justice (DoJ) to establish independent compliance oversight on the platform for up to 3 years (expected to end in 2027).
However, the $1 billion in Iranian transfers appears to have slipped through the cracks. In 2025, TRM Labs, a blockchain security company, established that Iran received over $10 billion in crypto.
And half of it was related to the Islamic Revolutionary Guard Corps (IRGC), the armed military wing of the current regime. Current geopolitical tensions and local social unrest have forced Iranian citizens and the government to embrace crypto.
According to Ari Redbord of TRM Labs, the US Treasury was concerned about the rise of Iranian crypto activity and evasion of imposed sanctions.
It remains unclear whether the US Treasury or the DoJ will follow up on Binance’s alleged violations.
Impact on the exchange
Despite the update, the stock market remained relatively stable, without panic exits. Over the past few days, the stock market has experienced some capital outflows amid market volatility.
However, its BTC reserves increased from 651,000 BTC to 666,000 BTC, highlighting that investor confidence in the platform remained strong at press time.
Source: CryptoQuant
Likewise, Binance’s native token, BNBremained relatively stable but struggled to stay above $600 amid widespread market weakness.
Final Summary
- Binance’s CZ called the Iranian claims “paid FUD,” saying the exchange operates several third-party anti-money laundering (AML) tools.
- Iran’s crypto business has grown to $10 billion, with half of the transfers driven by the government.
