In a recent letter addressed to US Senators Richard Blumenthal and Ron Johnson, cryptocurrency exchange Binance denied any wrongdoing regarding allegations of facilitating over $1 billion in transactions to Iranian entities. The inquiry, initiated by a bipartisan group of 11 senators in February, was described by Binance as based on “demonstrably false” claims lacking credible evidence.
Binance stated that it had responded to law enforcement inquiries that led to the removal of the implicated entities, Hexa Whale and Blessed Trust, from its platform. The exchange emphasized that, to its knowledge, no accounts were directly linked to Iranian entities. Additionally, Binance responded to claims about employee dismissals, indicating that some employees resigned voluntarily and that one was terminated for violating user privacy.
The senators previously requested a response from government officials by March 13 regarding the potential for an investigation into Binance. As of now, Treasury Secretary Scott Bessent and Attorney General Pamela Bondi have not made any public statements on the issue. In a separate matter, Binance recently settled with US authorities for $4.3 billion over sanctions violations, which included the resignation of then-CEO Changpeng Zhao following a guilty plea.