The U.S. Department of Justice is investigating whether Binance helped Iran evade American sanctions. Investigators are examining more than $1 billion in cryptocurrency transfers that allegedly moved through the exchange.
The probe focuses on claims that these funds supported Iran-backed militant groups, including Yemen’s Houthi militants. U.S. senators have pledged to oversee the investigation to ensure Binance is held accountable.
Binance denied the allegations and filed a defamation lawsuit against The Wall Street Journal. The company previously paid a record $4.3 billion fine and pleaded guilty to violating U.S. anti-money laundering and sanctions laws in 2023.