- Binance is demanding the Wall Street Journal retract an article alleging it fired staff who discovered $1 billion in crypto sent to Iran.
- The WSJ reported the investigators were dismissed after flagging transfers to a Hong Kong firm linked to Iran’s Revolutionary Guards.
- Binance CEO Richard Teng claims the article contains “defamatory claims” and fails to reflect the exchange’s responses.
Binance demanded the Wall Street Journal (WSJ) remove a published article on February 24, 2026, according to reports. CEO Richard Teng shared a letter accusing the publication of publishing “defamatory claims” in its Monday article. The exchange insists the piece falsely asserts it breached Iranian sanctions and must be corrected.
However, the WSJ article claims Binance fired investigators who identified over $1 billion in Tether sent to wallets linked to Iran’s shadow banking network. Consequently, the internal probe found the funds moved through an account owned by the Hong Kong firm Blessed Trust. U.S. authorities allege this network is run by Iran’s Islamic Revolutionary Guard Corps.
Meanwhile, the report suggested a Binance founding member had friendly ties to a Blessed Trust representative. Binance representatives told the WSJ that any suggestion the exchange controlled Blessed Trust is false. The geopolitical context is heightened as U.S. military pressure on Iran over its nuclear program continues.
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