Feb 27, 2026
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BEARISH 📉 : US Senators urge DOJ probe into Binance operations and compliance
Binance is under scrutiny in Washington as US lawmakers question its compliance with a 2023 settlement. This agreement led to the resignation of founder Changpeng Zhao.
Democrats Call for DOJ and Treasury Investigation
- Eleven Democrats, led by Elizabeth Warren, requested investigations into Binance's operations.
- Concerns include alleged illicit finance activities, such as transactions linked to Iran.
- The letter mentions Binance's ties with President Trump's crypto ventures and his pardon of Zhao.
- Senator Richard Blumenthal initiated an inquiry via the Senate’s Permanent Subcommittee on Investigations.
Binance Denies Sanctions Violations
- Blumenthal cited reports suggesting Binance may have violated sanctions on Iran.
- Allegations include ignoring warnings about Iranian money laundering operations.
- Reports indicate $1.7 billion in transactions to Iran might have occurred through Binance.
- Binance denies these claims, citing an internal review showing no evidence of violations.
