Binance has reportedly dismissed several members of its internal compliance team, including special investigators who tracked more than $1 billion in transactions tied to Iranian entities, according to documents and sources cited by Fortune. The terminations took place toward the end of 2025 and have raised fresh scrutiny over the exchange’s sanctions compliance efforts.
The investigators allegedly monitored transactions between March 2024 and August 2025, flagging flows connected to wallets and intermediaries linked to Iran, a jurisdiction subject to U.S. sanctions. The reported findings suggested that funds continued moving through the platform despite Binance’s public commitment to strengthened compliance controls following its 2023 legal settlement with U.S. authorities.
Binance founder Changpeng Zhao disputed the characterization of the report, stating that the article contained inconsistencies and did not clearly establish a direct link between the dismissed employees and the alleged sanctions-related discoveries. The exchange has not publicly confirmed the specific reasons behind the investigators’ termination.
Data from blockchain analytics platforms show that USDT flows from TRON into Binance peaked during the 2021 bull market and have since moderated. Although TRC-20 USDT supply continues to grow, activity levels on Binance have declined compared to prior market cycles. The token remains widely used for peer-to-peer transfers in parts of Southeast Asia but sees more limited adoption in DeFi lending and major centralized exchanges compared to its ERC-20 counterpart.
Source: Fortune, Dune Analytics
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