Binance Compliance Team Shake-Up Amid Reports of $1B Iran-Linked USDT Transactions

Binance has reportedly dismissed at least five members of its compliance investigations team after they flagged more than $1 billion in crypto transactions allegedly connected to Iranian entities, according to a Fortune report. The transactions, which occurred between March 2024 and August 2025, were reportedly conducted using Tether’s USDT stablecoin on the Tron blockchain.

The firings are said to have begun in late 2025 and allegedly involved senior investigators with law enforcement backgrounds. In addition to those dismissed, at least four other senior compliance staff members have reportedly left or been forced out in recent months. Binance has not publicly confirmed whether the flagged transactions violated international sanctions laws, and no regulator has announced new enforcement action against the exchange in relation to these claims.

The reported $1 billion in USDT transactions on Tron reflects a broader pattern seen in previous sanctions-related cases involving Iran. Stablecoins, particularly USDT, have increasingly been used in cross-border transfers due to their liquidity and accessibility. The Tron network, known for low transaction fees and high throughput, has frequently appeared in blockchain analytics reports tied to sanctioned entities.

Earlier this month, the US Treasury’s Office of Foreign Assets Control sanctioned two UK-registered crypto exchanges, Zedcex and Zedxion, alleging they processed nearly $1 billion in transactions linked to Iran’s Islamic Revolutionary Guard Corps. Blockchain analytics firms including TRM Labs, Chainalysis, and Elliptic have highlighted how USDT on Tron has played a central role in facilitating these flows.

In January, reports indicated that Iran’s central bank accumulated over $500 million in USDT as pressure mounted on the Iranian rial. Analysts suggested the move aimed to secure dollar-denominated liquidity outside the traditional banking system.

As global regulators intensify scrutiny of stablecoin infrastructure and crypto exchanges, the reported Binance compliance shake-up underscores the growing tension between digital asset innovation and international sanctions enforcement.