richardteng

Tensions around the world’s largest crypto exchange are rising again. Binance CEO Richard Teng has strongly pushed back against a new report by The Wall Street Journal, calling it inaccurate and misleading.
According to Teng, the article contains serious errors—especially regarding sanctions compliance and the exchange’s internal controls. He emphasized that Binance does not allow transactions involving sanctioned entities and that the transactions mentioned occurred before the individuals were officially sanctioned.
Disputed transactions and alleged Iran links
The WSJ report claims that networks connected to Iran used Binance accounts to move large sums of money. It specifically mentions figures like Babak Zanjani and the crypto firm Zedcex.
Binance, however, disputes these allegations, arguing that the report misinterprets historical data and lacks proper context.
“We reviewed this before WSJ even contacted us”
Teng stated that Binance had already investigated the matter before being approached by the publication. The company reportedly provided detailed explanations, which were not included in the final article.
He also reiterated Binance’s “zero tolerance” policy toward illegal activity and highlighted ongoing cooperation with law enforcement agencies worldwide. Transparency and regulatory engagement, he said, remain central to the company’s strategy.
A shadow from the past: the $4.3 billion settlement
The issue is particularly sensitive due to Binance’s past. In 2023, the company reached a settlement with U.S. authorities over violations related to anti-money laundering and sanctions laws.
As part of the agreement, Binance paid over $4.3 billion and accepted the appointment of an independent compliance monitor.
U.S. officials previously stated that between 2018 and 2022, weaknesses in Binance’s system allowed transactions between U.S. users and individuals in sanctioned jurisdictions, including Iran.
Binance: We rebuilt our system
Since then, Binance claims it has undergone a major transformation. The exchange says it has strengthened its compliance framework, expanded monitoring systems, and significantly increased its regulatory workforce.
According to reported figures:
Sanctions-related exposure dropped by 96.8%Suspicious transaction share fell from 0.284% to 0.009%Over 1,500 employees now work in compliance, risk, and investigationsIn 2025, Binance processed more than 71,000 law enforcement requests
The company also states it actively assists authorities in recovering funds tied to illicit activities.
The battle for trust continues
This latest dispute highlights that Binance’s reputation remains under scrutiny. Each new report has the potential to influence both investor confidence and regulatory perception.
On one side are improvements, data, and reform efforts. On the other, lingering concerns and continued media pressure.
One thing is clear—the fight for trust in the crypto industry is far from over.
#Binance , #CryptoNews , #Regulation , #blockchain , #RichardTeng
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Disclaimer:
The information and opinions presented in this article are for informational and educational purposes only and should not be considered financial or investment advice. Nothing on this page constitutes a recommendation to buy or sell any assets. Cryptocurrency investments are inherently risky and may result in financial loss. Always do your own research before making any investment decisions.

Binance CEO Richard Teng has denied a report published by The Wall Street Journal alleging that Binance allowed sanctioned individuals or entities to trade on its platform.
Teng described the report as “misleading” and “defamatory,” stating that Binance maintains active compliance and anti-money laundering monitoring systems. The company reportedly demanded corrections and a formal retraction of the article. �
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The controversy comes as global regulators continue increasing scrutiny over the crypto industry, particularly regarding sanctions compliance and cross-border transaction monitoring.
At the same time, the situation highlights how major crypto exchanges are now operating under significantly tighter regulatory oversight than in previous years.
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