Binance Rejects Sanctions Evasion Claims, Reports 97% Drop
Binance has reported a discount in its publicity to sanctioned entities, citing a 97% decline since January 2024.
The announcement follows accusations of sanctions violations and claims that investigators had been dismissed for elevating compliance issues.
Binance Outperforms Global Peers
Recent stories from Fortune claimed that a number of investigators had been terminated after flagging over $1 billion in transactions linked to Iranian counterparties, primarily involving Tether’s USDT on the Tron blockchain over 18 months.
In addition to the investigators’ terminations, the report indicated that over the past three months, at the very least 4 senior compliance workers have been let go or pushed out.
Separately, blockchain analytics platform Elliptic noted in January that wallets tied to the Central Bank of Iran had gathered greater than $500 million in USDT, indicating a rising reliance on stablecoins to bypass banking restrictions.
In response, Binance outlined its compliance measures in a weblog submit, describing its program because the “best-in-class” and constantly strengthening. Data shared by the alternate exhibits that sanctions-related publicity as a share of whole alternate quantity fell from 0.284% in January 2024 to 0.009% by July 2025, representing a 96.8% decline.
Direct connection to the 4 largest Iranian cryptocurrency exchanges additionally dropped by 97.3% over the interval, from $4.19 million to roughly $0.11 million, surpassing ten main world alternate friends in danger discount. In 2025 alone, the agency says it processed over 71,000 requests from authorities and supported greater than $131 million in confiscations.
These developments come as Binance continues to function underneath compliance reforms agreed to throughout its settlement with U.S. authorities, after the alternate pleaded responsible to anti-money laundering and sanctions violations, paying $4.3 billion in penalties.
Binance Denies Allegations
According to Binance, the current reporting on its sanctions compliance standing relies on incomplete and mischaracterized info that doesn’t replicate the complete file.
The firm shared that the 2 entities referenced within the stories underwent structured inside evaluations, which confirmed they weren’t on any sanctions lists whereas utilizing the platform and that their transactions didn’t set off alerts from industry-standard monitoring instruments.
Binance added that as quickly as new info was found, it went on to activate its compliance protocols and took applicable motion.
The alternate additionally denied accusations that it had dismissed investigation employees for engaged on these circumstances, clarifying that some related workers departed after an inside assessment discovered breaches of firm information safety and confidentiality pointers.
Former Binance CEO Changpeng Zhao additionally dismissed the claims on social media, stating,
“You can put a damaging narrative on something by speaking to an ‘nameless supply’ who’s ‘sad’ or paid to FUD.”
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