Overview
- Fortune reported that internal staff flagged nearly $1 billion in Tron-based USDT transfers tied to Iranian actors between March 2024 and August 2025.
- Binance says a review conducted with external legal counsel found no sanctions breaches and that none of the referenced wallets were sanctioned at the time.
- Leadership denies retaliatory dismissals of investigators, asserting some departures stemmed from internal policy violations, and has requested corrections to the reporting.
- The exchange remains under a U.S.-imposed monitorship following its 2023 $4.3 billion settlement over past compliance failures.
- U.S. enforcement has recently targeted entire exchanges and stablecoin flows, including January designations of Zedcex and Zedxion, with no new actions announced against Binance in this case.