[Binance Responds to WSJ's Iran Sanctions Investigation: Relevant Accounts Have Been Frozen and Closed, Transaction Volume Does Not Equal Funds Flowing to the Revolutionary Guard] According to a report by Jinse Finance on October 10, the WSJ reported that, based on an internal report submitted by Binance to the UAE Financial Intelligence Unit in April this year, a network associated with Iranian financier Babak Zanjani conducted transactions through 21 individual and corporate accounts on Binance, with a total transaction volume of approximately $850 million. Of this, at least $67 million flowed from two accounts to wallets linked to the Iranian Islamic Revolutionary Guard Corps (IRGC). In response to the report, Binance stated that the company identified the relevant activities months ago and took action, restricting all accounts associated with sanctions violations and subsequently closing them. Binance also emphasized that equating the total transaction volume of accounts with the actual funds flowing to the IRGC is misleading and stated that it is continuously strengthening compliance controls and cooperating with global law enforcement investigations. Regarding issues related to historical procedural requirements and execution delays, Binance noted that it has taken corresponding measures. The report also mentioned that the relevant accounts had drawn attention from U.S. and other countries' law enforcement agencies, and some associated entities and individuals have been sanctioned by the U.S. Treasury Department. However, the total transaction volume listed in the report does not imply that all funds flowed to the IRGC, and the flow of funds and account associations still need to be assessed separately.