Binance Fires Investigators as $1 Billion Iran-Linked USDT Flows Surface
Binance has fired at the least 5 members of its compliance investigations crew after they internally flagged greater than $1 billion in transactions allegedly tied to Iranian entities, in line with Fortune.
The transactions reportedly passed off between March 2024 and August 2025. As reported, they had been routed utilizing Tether’s USDT stablecoin on the Tron blockchain.
USDT on Tron: A Familiar Pattern For Iran?
The firings allegedly started in late 2025. Several of the dismissed workers had regulation enforcement backgrounds and held senior investigative roles.
Fortune reported that at the least 4 further senior compliance workers have additionally left or been pushed out in latest months.
The reported $1 billion in flows had been denominated in USDT and moved throughout the Tron community. That mixture has repeatedly appeared in latest sanctions enforcement actions involving Iran-linked exercise.
Earlier this month, the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two UK-registered crypto exchanges, Zedcex and Zedxion. It’s alleged that the exchanges processed almost $1 billion in transactions tied to Iran’s Islamic Revolutionary Guard Corps (IRGC).
According to OFAC and blockchain analytics reporting cited by TRM Labs and Chainalysis, a lot of that exercise additionally concerned USDT on Tron.
Separately, BeinCrypto reported in January that Iran’s central financial institution amassed greater than $500 million in USDT amid strain on the Iranian rial. Blockchain analytics agency Elliptic stated the purchases seemingly aimed to safe hard-currency liquidity outdoors the normal banking system, successfully making a parallel greenback reserve.
Taken collectively, these circumstances present how stablecoins—notably USDT—have change into central to Iran-linked cross-border monetary flows.
Binance has not publicly confirmed that the alleged Iran-linked transactions violated sanctions legal guidelines, nor has any regulator introduced new enforcement motion towards the corporate associated to this reporting.
However, the episode unfolds amid broader scrutiny of stablecoin infrastructure and the function of exchanges in geopolitical sanctions regimes.
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