Feds Reportedly Investigating Crypto Titan Binance Over Iran Sanctions

The Department of Justice is investigating whether cryptocurrency titan Binance Holdings Ltd. “violated US sanctions on Iran by not stopping certain trading on its platform, according to people familiar with the matter,” Bloomberg Law and Reuters reported on Monday.

Bloomberg reported that agencies participating in an investigation into Binance include the Manhattan U.S. attorney’s office and Justice Department criminal division.

“We maintain a zero-tolerance policy for sanctions violations. We fully cooperate with law enforcement, and we remain ​committed to rooting out and shutting down bad ​actors,” Binance spokesperson Ross O’Leary told Gizmodo in a written statement.

Binance bills itself as the world’s largest cryptocurrency exchange by user count and trading volume; it recorded $11.4 trillion in trading volume in the first half of 2026 and reported over 320 million users in July. Back in February 2026, both the Wall Street Journal and New York Times reported that Binance had fired or suspended at least four internal compliance investigators who raised concerns about $1.7 billion in payments from two Hong Kong-based companies, Blessed Trust and Hexa Whale, to crypto wallets allegedly tied to sanctioned, Iranian-backed entities, including Yemen’s Houthi rebels. The Guardian noted that now-former Binance CEO Changpeng Zhao received a pardon from President Donald Trump in October 2025 for his conviction in a 2023 federal anti-money-laundering and sanctions case that ended with Binance paying $4.3 billion in fines, Zhao’s resignation, tighter compliance requirements, and an agreement to allow oversight from independent federal compliance monitors. (Binance has reportedly since lobbied regulators to remove the monitors.) That case also involved Iran as one part of broader allegations that Binance turned a blind eye to suspicious transactions around the world.