[Binance Denies WSJ Allegations of $850 Million Iran-Related Transactions] BlockBeats News, May 23: The Wall Street Journal (WSJ) reported that Binance allegedly processed approximately $850 million in transactions over two years linked to financial networks under Iran sanctions, which ultimately flowed to the Islamic Revolutionary Guard Corps (IRGC). In response, Binance CEO Richard Teng posted on the X platform denying the report, calling it 'completely inaccurate.' He emphasized that Binance does not allow sanctioned entities to trade and stated that the suspicious activities occurred before the involved parties were sanctioned by the U.S. The report identified Iranian businessman Babak Zanjani as a key figure, alleging that his related companies and associated accounts operated through the same device to form a secret payment network on the Binance platform. The report also claimed that Binance's internal compliance system detected unusual access from Tehran at the end of 2024, triggering multiple risk control alerts, but the related accounts were not promptly closed. WSJ further noted that Iran's central bank and related entities also moved funds through Binance between 2024 and 2025, including approximately $107 million and other cross-border crypto transactions. Binance reiterated that its compliance system is 'industry-leading' and highlighted that after pleading guilty and paying a $4.3 billion settlement in 2023, it has continued to strengthen its risk control mechanisms. Additionally, Binance has filed a defamation lawsuit against WSJ regarding the report and denied that the U.S. Department of Justice is investigating the matter. [Original Link]