Binance Under Scrutiny: Allegations of Funding Iranian Entities Amid Trump’s Pardon of Founder Changpeng Zhao

Title: Binance Under Scrutiny: Allegations of Funding Iranian Entities Surface Post-Trump Pardon

In a shocking revelation, employees at Binance, the world’s largest cryptocurrency exchange, have reportedly uncovered evidence suggesting the platform may have facilitated billions of dollars in transactions to Iranian entities. This discovery comes shortly after former President Donald Trump pardoned Binance founder Changpeng Zhao last fall, raising questions about the implications of the pardon and the company’s compliance with international sanctions.

According to a report by the New York Times, a group of internal investigators at Binance found that over 1,500 accounts linked to individuals in Iran had accessed the platform. Alarmingly, two of these accounts allegedly transferred approximately $1.7 billion to Iranian-backed groups, including Yemen’s Houthi militants, throughout 2024 and 2025. The findings were reportedly shared with Binance executives, but instead of addressing the issue, at least four employees faced disciplinary action, including termination and suspension, for purportedly violating company protocols regarding client data.

In response to the allegations, a Binance spokesperson stated, “We did not violate sanctions laws in respect of the transactions described.” The spokesperson also refuted claims that investigators were dismissed for raising compliance concerns, asserting, “No investigator was dismissed for raising compliance concerns or for reporting potential sanctions issues.”

Zhao, who founded Binance in 2017, has had a tumultuous year. In 2023, he pled guilty to money laundering, resigned from the company, and was sentenced to four months in prison, along with a $50 million fine. Following his release, Trump granted Zhao a pardon, downplaying the severity of his actions. “They say what he did was not even a crime. It wasn’t a crime,” Trump remarked in October, suggesting that Zhao was a victim of political persecution by the Biden administration.

The timing of these allegations is particularly concerning, as they emerged before Trump’s pardon. The transactions in question reportedly involved entities that the Trump administration has identified as chief foreign adversaries, raising further questions about Binance’s oversight and regulatory compliance.

In 2023, Binance itself pled guilty to multiple charges, agreeing to a staggering $1.81 billion criminal fine and a $2.51 billion forfeiture order. The company has since committed to enhancing its internal monitoring and cracking down on illicit activities on its platform, including transactions involving Iranian customers.

As the situation unfolds, the White House has yet to respond to inquiries regarding the implications of these findings and the broader impact on U.S. sanctions policy.

The revelations have sparked a renewed debate about the intersection of cryptocurrency, regulatory compliance, and international relations, leaving many to wonder how such a significant breach could occur within one of the industry’s leading platforms. As investigations continue, the future of Binance and its leadership remains uncertain.