Binance Fires Top Investigators Amid Iran Sanctions Violation Allegations (BNF: -$1B)

Binance has fired at least five investigators, including three with law enforcement backgrounds, following internal reports of potential violations of U.S. sanctions laws. The findings allege over $1 billion in transactions routed via Tether on the Tron blockchain to entities tied to Iran between March 2024 and August 2025. The firings began in late 2025, as the exchange operated under a DOJ-monitorship following a $4.3 billion settlement in November 2023 forAML/KYC and sanctions violations. The company issued a statement Wednesday denying specific personnel details and policy breaches, reaffirming its compliance with laws and ongoing collaboration with law enforcement. At least four other top compliance staff have also left or been removed in the past three months. Binance is seeking a replacement for chief compliance officer Noah Perlman, who is expected to step down later this year. The timing follows a Trump administration rollback of crypto oversight and a pardon for Binance founder Changpeng Zhao in October 2025. The company is expanding its compliance workforce, aiming to reach 645 full-time equivalents by year-end 2026.