How Binance staffers found $1B was sent to sanctioned Iranian entities via the exchange, which dismantled their probe and suspended them after Trump pardoned CZ
Weeks after Trump pardoned Binance's founder, the company dismantled probe and suspended the investigators; Binance denied inquiry ended or staff fired for the concerns
It also follows reporting that Binance aided the Trump family's World Liberty Financial before CZ's pardon. The company disputes that its Iran inquiry was ended or that personnel were removed because of those concerns.
First-order effects
The reported dismantling of the probe and suspensions would remove the investigators directly examining roughly $1 billion in transfers to sanctioned Iranian entities, while leaving Binance to defend its handling of the matter.
The allegations put Binance's internal compliance governance under sharper scrutiny, particularly because the company denies the inquiry ended or the staffing actions were tied to the transfers.
Second-order effects
Banks, stablecoin issuers, counterparties and institutional customers that rely on Binance's controls may reassess sanctions-screening and escalation risk if the reporting is substantiated.
If repeated reporting establishes a pattern, crypto platforms seeking mainstream financial access will face a more fundamental test: whether formal compliance programs have authority to investigate high-risk activity without management override.
The broader result could be a wider crypto legitimacy gap, with market access increasingly tied to auditable sanctions controls rather than public commitments alone.
The trend: This is one data point in the broader push to test whether large crypto exchanges' compliance structures are independent enough for regulated financial markets.
Too bad Trump pardoned the head of this company already... But on the upside, the criminal invested in Trump's crypto deal. These clowns all belong in prison.
Weeks after Trump pardoned Binance founder Changpeng Zhao, the crypto exchange dismantled a staff investigation into $1 billion that had recently moved through Binance to a network funding Iran-backed terror groups. www.wsj.com/finance/curr...
Is there a single American adversary that Binance *hasn't* helped hide its money? Al Qaeda, Hamas, now more Iran-backed groups—all of them linked directly to Binance. — www.wsj.com/finance/curr...
Whistleblowers find $1.7 billion in payments to Iran from crypto firm Binance, whose CEO Chanpeng Zhao was pardoned by Trump. https://www.rawstory.com/... Staggering corruption — and once again, America's pedophile president is involved. What was promised to the loathsome piece o…
As I keep saying, crypto has only two uses: gambling and criminality. I have personal experience of this as crypto scammers hacked my account recently.
This whole Iran thing is such theater. Don't forget about Baku and the IRG. 'Investigations published in 2017 revealed that a luxury hotel project in Baku, Azerbaijan, which was branded and managed by The Trump Organization, was deeply connected to a powerful Azerbaijani family
Absolutely wild reporting from the NYT on Binance - - Binance may have detected *1.7B* flowing to Iran - 1.2B of that apparently belongs to the Iranian Revolutionary Guards Corps itself - the company fired the employees involved after they reported this Terrible look for crypto […
Weeks after Trump granted a pardon to Binance founder Changpeng Zhao, its execs dismantled a staff program be into $1 billion that had moved thru Binance to a network funding Iran-backed terror groups. @kowsmann @AABerwick @BenFoldy https://www.wsj.com/...
The WSJ and NYT both published articles today with more details on the story that @bdanweiss and I broke earlier this month: https://www.wsj.com/... https://www.nytimes.com/...
About $1.7 billion flowed from two accounts at Binance, whose founder was pardoned by Trump, to Iranian entities with links to terrorist groups, a possible violation of global sanctions, investigators discovered. @yaffebellany @PekingMike https://www.nytimes.com/...
This is an absolutely wild, must-read story from @kowsmann, @AABerwick and @BenFoldy. Hard to see how the Administration could square not aggressively following up on this reporting while being on the precipice of a major bombing campaign...
Crypto has gotten bigger, but its fundamental value proposition has never changed. It is a tool that is perfectly designed to avoid anti-money laundering rules and it is being used for its intended purpose. https://www.nytimes.com/...