Fortune studies $1B in Iran-linked Binance flows; CZ says all trades ran by means of third-party AML instruments and denies wrongdoing.
Binance is going through new scrutiny after a report claimed greater than $1 billion in crypto might have reached Iran-linked entities. The allegations had been revealed by Fortune on February 13, 2026.
Former Binance CEO Changpeng Zhao, referred to as CZ, rejected the claims and stated all transactions handed by means of third-party AML programs.
Report Alleges $1B in Iran-Linked Transactions
Fortune reported that inside compliance employees recognized over $1 billion in flows tied to Iran.
The funds had been primarily in Tether (USDT) and moved by means of the Tron blockchain. The transactions reportedly occurred between March 2024 and August 2025.
🚨 NOW: FORMER BINANCE CEO @CZ_BINANCE FIRES BACK AT FORTUNE REPORT ALLEGING THE EXCHANGE FIRED INVESTIGATORS WHO UNCOVERED $1B+ IN SANCTIONED IRAN-LINKED TRANSACTIONS
CZ known as the article “self-contradicting” and advised investigators might have been fired for failing to… pic.twitter.com/WNT0Tj9XTE
— BSCN (@BSCNews) February 13, 2026
The report acknowledged that the exercise might breach U.S. sanctions guidelines. U.S. legislation restricts most monetary dealings with Iran.
Binance beforehand agreed to observe strict compliance steps after its 2023 settlement with U.S. authorities.
In keeping with the report, investigators shared their findings with senior leaders. Quickly after, not less than 5 senior compliance employees had been dismissed.
A number of others additionally left the corporate throughout a wider compliance crew overhaul.
Compliance Shakeup After 2023 Settlement
Binance paid a $4.3 billion settlement in 2023 to U.S. companies. These included the Division of Justice, OFAC, and FinCEN.
The case lined previous AML, KYC, and sanctions failures, together with dealings linked to sanctioned areas.
Binance is going through recent allegations of potential sanctions violations involving Iran, in keeping with a latest unique report from @FortuneMagazine (revealed February 13, 2026).
Inner compliance investigators at Binance reportedly uncovered proof that greater than $1 billion…
— MartyParty (@martypartymusic) February 13, 2026
As a part of that settlement, Binance dedicated to stronger monitoring programs.
It additionally agreed to enhance inside reporting and oversight. The newest claims come throughout a interval when these controls had been meant to be energetic.
Fortune reported that not less than 4 extra senior compliance officers exited in latest months.
The departures occurred as Binance adjusted its inside construction. Public sources haven’t confirmed the precise causes for every dismissal.
CZ Responds: “All Trades Ran By means of AML Instruments”
CZ responded publicly to the Fortune article. He described the report as “self-contradicting.” He advised that employees might have been dismissed for failing to cease violations, not for uncovering them.
Changpeng acknowledged that Binance runs “EVERY transaction by means of a number of third occasion AML instruments.” He stated these programs display exercise for sanctions dangers.
He added that if violations occurred, the instruments didn’t flag them.
CZ additionally criticized the report’s use of nameless sources. He stated such sources could also be “sad or paid to FUD.”
Binance issued a separate assertion affirming its dedication to worldwide sanctions compliance. The corporate stated it continues to dam prohibited customers and jurisdictions.