TechFlow News, May 23: According to Cointelegraph, Binance CEO Richard Teng denied a Wall Street Journal report claiming the platform processed approximately $850 million in Iran-related transactions that ultimately flowed to the Islamic Revolutionary Guard Corps (IRGC), calling the report “fundamentally inaccurate.” The report alleged that Babak Zanjani—a figure recently re-sanctioned by the U.S.—and his associated network transferred funds via Binance accounts over a two-year period. Richard Teng stated that Binance has never permitted sanctioned individuals to trade on its platform and that any flagged activity occurred prior to the imposition of U.S. sanctions.
Earlier, the Wall Street Journal also reported that Binance’s internal compliance team had issued multiple alerts regarding these accounts.
