- The US Treasury Department privately demanded Binance comply with a monitoring program tied to its 2023 settlement, following reports of $1 billion flowing to Iran-linked entities.
- Binance reaffirmed its commitment to cooperating with the independent monitor and relevant agencies, stating it welcomes “constructive feedback.”
- Former CEO Changpeng Zhao, pardoned in 2025, ruled out leading another crypto company, saying he lacks the stamina for another startup.
- The exchange’s ties to the Trump administration have drawn scrutiny due to a UAE entity’s $2 billion investment using a stablecoin co-founded by the president.
The US Department of the Treasury privately demanded that Binance adhere to a monitoring program established in its 2023 settlement deal, according to a Thursday report. This followed allegations the exchange facilitated $1 billion to entities tied to Iran. Consequently, a group of senators urged Treasury Secretary Scott Bessent to report on Binance‘s compliance with the agreement.
Binance stated it is committed to cooperating with the independent monitor and ongoing collaboration with relevant agencies. A spokesperson said, “We welcome constructive feedback from the Treasury and view this oversight as an important part of continuously strengthening our compliance and anti-money laundering controls.” However, reports surfaced that the exchange fired individuals who alerted executives about the Iranian transactions.
Meanwhile, former Binance CEO Changpeng Zhao appeared at the Consensus conference in Miami on Thursday. Zhao, who was pardoned by President Donald Trump in October 2025, dismissed the idea of leading another crypto company. He stated, “I don’t think I’ve got the stamina to run another startup, to lead another company.” The exchange’s connections to the Trump administration have been scrutinized due to a UAE-based entity’s $2 billion investment using a Trump-linked stablecoin.
Zhao pleaded guilty to one felony charge related to failure to maintain an anti-money laundering regime as part of the 2023 settlement. The deal included a $4.3 billion settlement with Treasury and the US Department of Justice and a three-year monitoring program.
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