Binance CEO hints at legal action over report on Iranian sanctions

CoinTelegraph

by Turner Wright

February 24, 2026

AI-Generated Deep Dive Summary

Binance CEO Richard Teng has criticized recent reports by major news outlets, accusing them of "inaccurate reporting" regarding an investigation into $1.7 billion in digital assets moving to Iranian entities. In a social media post, Teng called the coverage defamatory and shared a letter from Binance's legal team, which demanded immediate corrections and a full retraction of the false statements. The letter, sent to the editor-in-chief of the Wall Street Journal, claims the article was misleading and harmful to Binance's reputation. The reports in question allege that Binance had suspended or fired employees involved in an internal investigation into crypto transactions with Iranian entities. Teng emphasized that these allegations were unfounded and stated that Binance has taken steps to address concerns while maintaining compliance with applicable laws and regulations. He also highlighted the company's commitment to transparency and ethical practices. This situation underscores the challenges faced by cryptocurrency exchanges in navigating complex regulatory environments, particularly when dealing with international sanctions. The potential legal implications for companies operating in this space are significant, as misreporting can lead to reputational damage and financial harm. Binance’s response demonstrates how seriously crypto firms view such issues, often resorting to legal action to protect their interests. For readers interested in the cryptocurrency industry, this story highlights the delicate balance between regulatory compliance, media scrutiny, and business operations. It also raises questions about the accuracy of news reporting in a rapidly evolving field where misinformation can spread quickly, affecting both companies and their stakeholders. The outcome of Binance’s efforts to address these allegations could set a precedent for how other crypto firms handle similar situations in the future.

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Originally published on CoinTelegraph on 2/24/2026