Cryptocurrency exchange Binance has published a detailed blog post asserting it has "significantly reduced exposure" to sanctioned entities and high-risk jurisdictions, with a specific focus on Iran. The exchange claims its sanctions-related exposure as a percentage of total trading volume has plummeted by approximately 97% since January 2024, now standing at a mere 0.009%.
This public statement serves as a direct rebuttal to a February 13 Fortune report, which cited anonymous sources alleging Binance fired at least five investigators who had uncovered evidence of Iranian sanctions violations. Binance denied these allegations on February 15, calling the report "categorically false" and stating that "no investigator was dismissed for raising compliance concerns." In its latest post, the company clarified that some compliance employees departed following an internal review that found "breaches of company data-protection and confidentiality guidelines."
The exchange provided specific figures to back its claims, stating that between January 2024 and January 2026, it reduced direct exposure to the four top Iranian exchanges by over 97%, from $4.19 million to $110,000. In a separate metric covering January 2024 to July 2025, Binance reported a 96.8% reduction in overall sanctions-related exposure, from 0.284% of total volume to 0.009%.
Binance used the opportunity to detail its substantial compliance investments, noting that approximately 25% of its global workforce—over 1,500 employees—is dedicated to compliance functions, including sanctions screening and investigations. The company stated it has invested "hundreds of millions of US dollars" in its compliance programs.
Furthermore, the exchange highlighted its cooperation with global authorities, reporting that its teams supported over 71,000 law-enforcement requests worldwide in 2025 and assisted in confiscating more than $131 million linked to illicit activity. The blog post concluded by criticizing recent media coverage as relying on "incomplete and mischaracterized accounts" that fail to reflect the full scope of the company's compliance efforts.
