• Binance co-CEO Richard Teng rejected claims that the exchange was involved in Iran-linked fund flows.
• The exchange previously stated that funds neither originated from nor moved directly through its wallets to sanctioned entities.
• Binance had earlier taken legal action against The Wall Street Journal over alleged false media coverage.

Binance has pushed back against recent media reports alleging that the exchange facilitated fund flows linked to sanctioned Iranian entities, issuing a detailed compliance statement to address what it described as inaccurate claims.

In an X post on Monday, Binance Co-CEO Richard Teng stated “Facts over fiction!” while outlining several points the company says directly contradict narratives circulating in the press. He emphasized that the exchange maintains strict compliance standards.

Teng lists key compliance clarifications

According to Teng, several widely circulated claims about the alleged Iran-linked transactions are incorrect. He stated that “contrary to false reports,” no employees were fired for raising compliance concerns, and the company did not violate US or international sanctions provisions.

Teng added that transactions referenced in media coverage did not move directly between Binance wallets and sanctioned entities. Instead, the funds moved through at least three intermediary wallets before reaching their final destinations.

He noted that Binance conducted a full investigation into the activity, offboarded accounts involved in the transactions, and reported suspicious findings to relevant law enforcement authorities. He further stressed that the funds neither originated with Binance nor were transferred directly from any Binance wallet to an entity linked to Iran.

Teng’s compliance statement comes amid heightened regulatory and geopolitical pressure on cross-border crypto transactions. 

The exchange previously announced legal action against The Wall Street Journal, accusing the publication of publishing inaccurate claims about the alleged Iran-linked fund flows. It argues that the reporting misrepresented its compliance practices and operations.

Binance reiterated its commitment to strengthening transparency and compliance across its platform, positioning the statement as part of broader efforts to build trust with users, regulators, and institutional partners in the evolving digital asset ecosystem.

BNB is trading at $675 on Tuesday, down 1% over the past 24 hours as of writing.