Overview
- Fortune reported that internal investigators flagged more than $1 billion in transfers tied to Iranian entities from March 2024 through August 2025 using USDT on the Tron blockchain.
- According to the report, at least five members of Binance’s investigations team were dismissed starting in late 2025 after submitting their findings through internal channels.
- A Binance spokesperson said the company cannot comment on ongoing investigations or personnel matters and stated it remains committed to complying with sanctions laws.
- Former CEO Changpeng Zhao rejected the account as self-contradicting, argued investigators should have stopped suspicious activity, and noted Binance relies on multiple third‑party AML tools.
- The Fortune piece also cited recent departures of senior compliance staff and said the exchange is seeking a successor to chief compliance officer Noah Perlman, with no new regulatory accusations detailed in the coverage.