Binance Denies Sanctions Breach Claims After $1 Billion Iran-Linked USDT Transactions Reported
Binance forcefully rejected allegations that its investigators found $1 billion in Iran-linked USDT transactions and were subsequently fired.Summary
Binance is strongly refuting claims, first reported by Fortune, that its compliance investigators identified over $1 billion in Tether (USDT) transactions linked to Iranian entities between March 2024 and August 2025, leading to the dismissal of at least five staff members. Co-CEO Richard Teng stated clearly that "No sanctions violations were found, no investigators were fired for raising concerns." Binance confirmed in a letter to Fortune that no personnel were terminated for reporting sanctions concerns and that an internal review, with external counsel, found no evidence of breaches. The allegations are particularly sensitive given Binance's 2023 $4.3 billion settlement over AML and sanctions violations. The incident also highlights broader industry concerns regarding the use of USDT on the Tron blockchain by Iran-linked actors to bypass traditional banking channels.
(Source：BeInCrypto)