Binance’s Richard Teng Rebukes WSJ Over Iran Sanctions Reporting

Binance co-CEO Richard Teng publicly challenged a Wall Street Journal article that said investigators had identified large crypto flows to Iran-linked wallets and that staff were fired or suspended for raising concerns. Teng called the WSJ report "defamatory and inaccurate" and sent a letter demanding the article be removed, denying that Binance retaliated against employees involved in the probe ^[2][1].

Binance also disputed the scale of the alleged Iran-linked flows reported by the WSJ, specifically contesting a $1.7 billion figure cited in coverage, and described the WSJ’s account as inaccurate ^[3]. The exchange said its compliance exposure to Iranian exchanges fell roughly 96.8–97% from January 2024 to January 2026 and emphasized it maintains more than 1,500 compliance-focused employees and robust global oversight measures ^[1][3].

Multiple outlets ran similar stories about alleged firings or suspensions related to the investigation, and Binance has signalled it may pursue legal action over the reporting while continuing to press the WSJ for retraction ^[4][2].

The dispute centers on the WSJ’s reporting of Iran-linked crypto flows and alleged internal retaliation; Binance has formally demanded removal of the article, reiterated its compliance improvements, and indicated possible legal steps as it disputes the published account ^[2][1][4].