Trending Now - Iran Allegedly Channeled Billions via Binance for Military Funding

WHO:

Engadget - Iran is identified as the country allegedly involved in the financial activities.

Bitcoinist - Richard Teng is the CEO of Binance who responded to the allegations.

WHAT:

Engadget - The Wall Street Journal claims Iran continued to use Binance to funnel money despite tough sanctions.

The Wall Street Journal - Iran reportedly funneled approximately $850 million through Binance.

Bitcoinist - The financial activities linked to Iran continued as recently as December 2025.

WHERE:

Bitcoinist - The activities took place through Binance, which is described as the world’s largest cryptocurrency exchange.

WHEN:

Bitcoinist - The Wall Street Journal published the report on May 22.

WHY:

Engadget - The report suggests that the funds were used to support Iran's military, amid escalating military tensions between the US and Iran.

HOW:

Engadget - The report indicates that Iran used a covert payments network to facilitate the transfer of funds through Binance.

(UPDATED May 22, 2026 21:30 UTC)

According to a report from The Wall Street Journal, Iran has reportedly continued to use Binance to funnel money, even in the face of tough sanctions. This development raises concerns about the effectiveness of the sanctions imposed on the country. The situation highlights ongoing challenges in regulating cryptocurrency platforms and their use in international finance.

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(UPDATED May 22, 2026 13:50 UTC)

A new report from The Wall Street Journal reveals that Iran allegedly funneled approximately $850 million through Binance, the world’s largest cryptocurrency exchange, to support its military amid rising tensions with the US. Richard Teng, the CEO of Binance, has responded to these serious allegations, which suggest that these financial activities linked to Iran continued as recently as December 2025. The report indicates that Iran utilized a covert payments network to facilitate these transfers through the exchange.