Binance CEO Richard Teng rejected a Fortune report that pointed to dismissals of researchers analyzing potential violations of sanctions associated to Iran.
“Irresponsible and deceptive press articles primarily based on nameless sources (…) do an injustice to the nice work of our greater than 1,300 compliance workers who work tirelessly to take care of world requirements,” he stated on X on the evening of February 13.
Fortune, as CriptoNoticias defined, reported that inside Binance researchers would have detected that entities linked to Iran acquired greater than 1 billion {dollars} in cryptocurrencies via that trade between March 2024 and August 2025.
In line with that medium, citing nameless sources, at the least 5 members of the Binance compliance crew who analyzed these transactions have been later fired.
Confronted with this state of affairs, Teng responded by itemizing 5 factors making an attempt to strengthen Binance’s compliance narrative. Nonetheless, the supervisor He didn’t make clear whether or not or not there have been layoffs within the space talked about by Fortune.
The 5 factors detailed by Richard Teng, in his assertion, have been the next:
1. Compliance with AML rules and sanctions
“Binance complies with and maintains world AML requirements and relevant sanctions,” he stated. AML refers back to the world anti-money laundering requirements that require figuring out customers, monitoring transactions and reporting suspicious actions.
Teng insisted that the corporate respects present regulatory frameworks.
2. Use of exterior monitoring instruments
The CEO defined that, “like different monetary establishments,” Binance employs third-party instruments resembling Elliptic, Chainalysis, and TRM Labs for real-time monitoring, cryptocurrency community evaluation, and sanctions detection.
In line with him, these platforms permit «determine and stop unlawful actions and keep AML and sanctions requirements.
Moreover, these three corporations talked about by Teng are identified for monitoring cryptocurrency flows on public networks and warn about potential hyperlinks to unlawful actions.
Teng didn’t specify whether or not using these instruments modified after the alleged layoffs talked about by Fortune.
3. Proactive experiences to authorities
“Once we detect potential hyperlinks to sanctioned actions, we take a proactive method to reporting them to and dealing with regulation enforcement companies,” he stated.
He added that this was carried out by your compliance crew within the circumstances cited by the Fortune report.
4. Worldwide cooperation and recognition
Teng assured that Binance actively cooperates with regulation enforcement “world wide, sharing intelligence and supporting analysis.”
“These efforts are well known by regulation enforcement companies globally,” he stated.
For example, he famous that he acquired a letter of recognition from the Hong Kong Police for “our tireless efforts to research and fight unlawful crimes.” Nonetheless, the CEO of the trade didn’t specify the content material of the letter or the context of the investigation linked to that recognition.
5. Compliance as a steady course of
Lastly, Teng acknowledged that “compliance is a path with evolving requirements and the battle in opposition to illicit crimes is a unending effort.”
He added that the Malicious actors use more and more subtle methods to keep away from detection and that Binance will proceed “our tireless efforts to fight illicit crimes and keep world integrity.”
