CZ Denies Binance’s Involvement in Terrorism Financing
- Changpeng “CZ” Zhao stated he has “zero interest” in facilitating terrorism financing, particularly concerning Iran.
- Zhao made these remarks during a video appearance at the Digital Chamber’s DC Blockchain Summit.
- Binance has faced civil lawsuits dismissed in U.S. courts regarding allegations of acting as a conduit for terrorism financing.
- The exchange recently sued the Wall Street Journal over claims it fired compliance staff who flagged suspicious transactions linked to Iranian networks.
- Internal investigations reportedly flagged over $1 billion in crypto transfers from Chinese clients to wallets associated with Iranian financing.
Zhao emphasized that transactions tied to Iran do not generate fees and thus hold no business incentive for Binance to engage with them. The company maintains it found no evidence of direct transactions with Iranian entities on its platforms.
CZ’s defense against accusations highlights the lack of financial benefit from alleged Iran-related activities, reinforcing Binance’s stance amid ongoing scrutiny over compliance issues involving more than $1 billion in flagged transfers.
