Binance Responds to Fortune's Report on Fired Investigators: CZ Calls Narrative Illogical, Yi He Says Compliance System Will Continuously Improve
In response to a Fortune report alleging that "Binance fired investigators who claimed to have found evidence of sanctions violations by Iran," Changpeng Zhao stated on X that he was not familiar with the specific details but found the report's logic untenable. He argued that if the allegations were true, it could just as easily be argued that these investigators initially failed to prevent the suspicious activity. Zhao added that Binance processes transactions using third-party anti-money laundering screening tools also utilized by multiple law enforcement agencies. He suggested that by speaking with "disgruntled" or "anonymous sources" hired to spread FUD (Fear, Uncertainty, and Doubt), a negative narrative can be created about anything. The Fortune report claimed that Binance's investigations team had identified transactions involving parties linked to Iran on the platform, totaling over $1 billion, and that at least five investigators have been dismissed since late 2025. These transactions reportedly occurred primarily on the TRON blockchain, in the form of Tether's USDT stablecoin. Yi He stated, "We sincerely thank all former employees who have walked this path with Binance. As the company continuously improves its compliance system, we understand that we may not be able to satisfy everyone. However, we remain committed to recruiting more professional compliance personnel."