The U.S. Justice Department is investigating whether Iranian networks used cryptocurrency exchange Binance to move funds and evade American sanctions, according to a report by The Wall Street Journal.The probe focuses on more than $1 billion in crypto transfers that allegedly passed through the platform to entities linked to Iran-backed groups, including Yemen’s Houthi militants.The investigation follows reports that Binance wound down an internal review that had identified around $1.7 billion in flows from mainly Chinese clients to digital wallets associated with Iranian proxies.Exclusive: The Justice Department is investigating Iran’s use of Binance to evade U.S. sanctions https://t.co/Qqw2h2cQuP— The Wall Street Journal (@WSJ) March 11, 2026Inquiry Examines Iran-Linked Crypto FlowsThis includes over $1 billion allegedly routed via Hong Kong-based payments firm Blessed Trust. The Wall Street Journal said officials have contacted individuals with knowledge of the transactions but added it is unclear whether authorities are scrutinizing Binance itself, its users, or both.Binance has filed a defamation lawsuit against Dow Jones, the publisher of The Wall Street Journal, on the same day the newspaper reported that the U.S. Justice Department is probing whether Iranian networks used the exchange to move funds in breach of U.S. sanctions.We have filed a complaint against the @WSJ for publishing a false and defamatory report, and to shine the light of truth. We view this suit as a necessary step to defend ourselves against misinformation, hold the WSJ accountable for prioritizing clicks over journalistic… pic.twitter.com/c4BPAi95Kh— Binance (@binance) March 11, 2026The lawsuit, filed in the Southern District of New York, claims the WSJ falsely stated that Binance fired staff who raised compliance concerns and mishandled Iran-linked transactions, and argues those employees left over alleged internal data protection violations instead of retaliation.Binance, which pleaded guilty in 2023 to U.S. anti-money-laundering and sanctions violations and agreed to a $4.3 billion settlement and compliance monitoring, said it did not directly transact with sanctioned entities and worked with law enforcement to dismantle the network.Binance Cites Cooperation with Law Enforcement The exchange said its investigation showed only about $24 million ultimately entered wallets tied to Iran’s Islamic Revolutionary Guard Corps and that accounts linked to the intermediary network have been closed. A separate Senate inquiry led by Senator Richard Blumenthal is also seeking records on Binance’s handling of the Iranian-related activity, citing the Journal’s reporting.Meanwhile, Binance.US has moved to refresh its executive ranks, appointing Stephen Gregory as CEO while Norman Reed shifts into an advisory role. Gregory, who took over on March 9, 2026, previously led Currency.com’s U.S. business through its 2025 acquisition and has held senior compliance roles at Gemini and CEX.io, giving him a long track record in regulated digital-asset operations.Meet our new CEO: Stephen Gregory (@Stevie_Satoshi)He's a compliance expert, builder, and seasoned trader. Now, he's leading @BinanceUS into our next chapter as we build the best crypto exchange for Americans. https://t.co/pmlWrU09YO— Binance.US 🇺🇸 (@BinanceUS) March 11, 2026The exchange is positioning the leadership change as the next step in its U.S. growth strategy after a period of regulatory pressure that has included enforcement actions and tighter scrutiny of its business model. Gregory’s appointment comes as Binance.US tries to move past those challenges This article was written by Jared Kirui at www.financemagnates.com.

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