Cryptocurrency exchange Binance has strongly refuted allegations of facilitating significant transactions to Iranian entities, calling a recent US Senate inquiry based on "demonstrably false, unsupported by credible evidence, and defamatory" reports.
Binance stated it found no direct transactions with Iran-based entities, contrary to media reports claiming over $1 billion in crypto transactions to entities connected to Iran. The exchange confirmed it investigated law enforcement inquiries, leading to the removal of specific entities from its platform.
Regarding claims of firing employees who raised concerns, Binance stated that some resigned, while one was terminated for violating user privacy by sharing internal information. The exchange emphasized its commitment to user privacy and adherence to labor policies.
The inquiry by US Senators followed Binance's $4.3 billion settlement in 2023 with US authorities over sanctions and Anti-Money-Laundering violations, which led to the resignation of former CEO Changpeng “CZ” Zhao. Zhao later received a presidential pardon, though he has ruled out returning to a leadership role.