Sen. Blumenthal investigates Binance following reports of Iran-linked sanctions evasion

Senator Richard Blumenthal, the top Democrat on the Senate Homeland Security Committee's investigative panel, has launched an inquiry into Binance following reports alleging the crypto exchange facilitated money laundering and trade with Iranian government entities via partners Hexa Whale and Blessed Trust. Blumenthal's letter to CEO Richard Teng demands records regarding Iranian use and compliance staff firings, noting Binance's history of sanctions breaches, for which it previously paid over $4 billion in penalties. Binance disputes the reports of firing investigators, claiming its controls detected and reported suspicious activity, and asserts it has undergone a strong compliance transformation. Furthermore, Blumenthal raised concerns about Binance's financial partnership with World Liberty Financial (WLFI), owned by the sons of President Trump and his envoy Steve Witkoff, suggesting Binance is trying to evade accountability.

(Source：The Block)