TLDR
- Changpeng Zhao denied allegations that Binance enabled Iran-linked terrorism financing during a Washington summit.
- He said he had no interest or business motive to support any unlawful transactions.
- Zhao cited dismissed U.S. civil lawsuits to support his defense against the accusations.
- Binance denied claims that it processed over $1 billion in transfers tied to Iranian networks.
- The company sued the Wall Street Journal over its report on compliance staff and sanctions concerns.
Changpeng Zhao rejected claims that Binance enabled Iran-linked terrorism financing during a public event in Washington. He denied any role in unlawful transactions and dismissed recent allegations as false. He also defended Binance’s record after prior U.S. settlements and lawsuits.
Changpeng Zhao Denies Iran and Terror Links
Changpeng Zhao addressed the accusations during a video appearance at the Digital Chamber’s DC Blockchain Summit. He said, “I have zero interest in doing that,” while rejecting claims of Iran-related financing. He added that he lives in the United Arab Emirates, a country facing threats from Iran.
He stated that he had no motive to support any such activity. He also argued that the alleged Iran-linked transactions generated no fees for Binance. “There’s no benefit,” he said, while denying any business incentive.
Zhao referenced civil lawsuits filed in U.S. courts over alleged terrorism financing links. Courts dismissed those cases, and he cited the rulings in his defense. He said the accusations relied on false and baseless information.
Binance Responds to Compliance and Sanctions Claims
Binance settled U.S. anti-money-laundering and sanctions violations in 2023. As part of that criminal settlement, Zhao agreed to step down as chief executive. He later served a prison sentence and received a pardon from President Donald Trump.
The Wall Street Journal reported that Binance fired compliance personnel who flagged suspicious transactions. Those transactions allegedly involved over $1 billion in crypto transfers. The report said Chinese clients sent funds to wallets linked to Iranian financing networks.
Binance denied those claims and filed a lawsuit against the Wall Street Journal. The company said it found no evidence of direct transactions with Iranian entities. It also stated that internal reviews did not confirm sanctions violations tied to Iran.
Zhao responded to the media coverage during the summit discussion. He said, “The way they’re attacking, they’re completely using false, baseless information.” He maintained that Binance did not facilitate unlawful transfers.
Zhao confirmed that he worked on a memoir during his prison term. He said he plans to release the book soon. He has not provided a specific publication date.
He reiterated that he no longer manages Binance operations. However, he continues to speak publicly about the company and his legal case. He focused his remarks on rejecting accusations related to Iran and terrorism financing.
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