Former Binance CEO CZ Denies Funding Iran or Terrorism Ties
Binance has long faced controversy over its anti-money-laundering and sanctions compliance. In November 2023, it reached a settlement of more than $4.3 billion with the U.S. Department of Justice and other agencies, and Changpeng Zhao, known as CZ, stepped down as CEO. Recent allegations have focused on whether the platform served as a channel for Iranian fund transfers and raised concerns about terrorist financing, potentially prompting regulators to reassess the exchange’s compliance capabilities.
CZ has denied that Binance funded Iran or had ties to terrorist organizations, saying he had no interest whatsoever in becoming involved in such matters. Publicly available information does not specify the value of the transactions at issue. Separately, U.S. Senator Cynthia Lummis said a crypto market structure bill could make progress by the end of April as Congress continues to clarify regulatory authority over digital assets and rules for trading platforms.
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The history behind this eventBinance Founder CZ Says Rivals Opposed Pardon Bid to Block His U.S. Return
Binance reached a $4.3 billion settlement with the U.S. government in November 2023 over charges including violations of the Bank Secrecy Act and withdrew from the U.S. market. Co-founder Changpeng Zhao, known as CZ, served four months in prison over anti-money-laundering failures, in a case that affected whether the major global cryptocurrency exchange could return to the United States.
In a Crypto Banter interview published on May 9, 2026, CZ said U.S. rivals had lobbied heavily against his pardon because they feared Binance’s return, though he acknowledged having no concrete evidence. He completed his prison term in September 2024 and was pardoned by Trump in October 2025. Binance.US had already resumed services for eligible users in February 2025.
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