Whistleblowers Expose $1.7B in Payments to Iran from Crypto Firm Whose CEO Trump Pardoned

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Whistleblowers at the cryptocurrency firm Binance uncovered $1.7 billion in payments to Iranian entities with ties to terrorist groups, a possible violation of global sanctions. This information was reported to Binance's top executives, but just months later, former President Donald Trump granted a full pardon to Binance's founder, Chanpeng Zhao, who had previously pleaded guilty to money laundering charges.

Why it matters

The revelations about Binance's dealings with Iran raise serious questions about the Trump administration's ties to the cryptocurrency industry and its willingness to overlook potential sanctions violations and other illicit financial activities. This case highlights the need for stronger regulatory oversight of the crypto sector to prevent it from being used to finance terrorist organizations and other nefarious actors.

The details

According to the report, Binance investigators found that people in Iran had gained access to more than 1,500 accounts on the Binance platform over the previous year, and about $1.7 billion had flowed from two Binance accounts to Iranian entities with links to terrorist groups. One of those accounts belonged to a Binance vendor. The investigators reported these transactions to Binance's top executives, but just months later, Trump granted a full pardon to Binance's founder, Chanpeng Zhao, who had pleaded guilty to money laundering charges in 2023.

• In 2025, Binance investigators uncovered the $1.7 billion in payments to Iranian entities.
• In October 2026, former President Trump granted a full pardon to Binance founder Chanpeng Zhao.

What’s next

The U.S. government and international authorities are expected to investigate the allegations against Binance and the circumstances surrounding the pardon granted to its founder by former President Trump.