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๐ฅ๐ฅโ๏ธ BINANCE COUNTERATTACK: Richard Teng denies reports of sanctions and threatens legal action ๐ซ๐ก๏ธ
Today, February 25, Binance is at the center of a media storm following reports by The Wall Street Journal and The New York Times. The exchange's response has been strong. Here are the key points you should know!
1๏ธโฃ The Report of Discord ($1,700M to Iran) ๐ฎ๐ท๐ธ
Reports published on Monday alleged that Binance fired internal investigators after discovering that $1,700 million in digital assets flowed to Iranian entities linked to sanctioned groups.
* The accusation: It is claimed that over 1,500 accounts were used to evade global sanctions.
2๏ธโฃ The Official Response: "Inaccurate and Defamatory Reporting" ๐ฃ๏ธ๐ซ
The CEO of Binance, Richard Teng, has come forward today with an official statement:
* Falsehoods: Binance categorically denies having fired staff for reporting violations. On the contrary, they claim that their controls detected and mitigated these activities.
* Legal Actions: The platform's lawyers have already sent letters demanding an immediate correction and the withdrawal of the articles, labeling them as defamatory.
* Transparency: The exchange highlighted that between 2024 and 2026 it has reduced its direct exposure to Iranian exchanges by 97.3%.
3๏ธโฃ Strength of Reserves: The Liquidity Shield ๐ก๏ธ๐ฐ
Amid the FUD (Fear, Uncertainty, and Doubt), Binance has published updated data on its reserves today:
* It consolidates as a global leader with a stablecoin reserve exceeding 65%.
* Its reserves are 5 times greater than those of its closest competitor, sending a message of total solvency amid rumors of insolvency that circulated weeks ago.
๐ฅ๐ฅโ๏ธ BINANCE COUNTERATTACK: Richard Teng denies reports of sanctions and threatens legal action ๐ซ๐ก๏ธ
Today, February 25, Binance is at the center of a media storm following reports by The Wall Street Journal and The New York Times. The exchange's response has been strong. Here are the key points you should know!
1๏ธโฃ The Report of Discord ($1,700M to Iran) ๐ฎ๐ท๐ธ
Reports published on Monday alleged that Binance fired internal investigators after discovering that $1,700 million in digital assets flowed to Iranian entities linked to sanctioned groups.
* The accusation: It is claimed that over 1,500 accounts were used to evade global sanctions.
2๏ธโฃ The Official Response: "Inaccurate and Defamatory Reporting" ๐ฃ๏ธ๐ซ
The CEO of Binance, Richard Teng, has come forward today with an official statement:
* Falsehoods: Binance categorically denies having fired staff for reporting violations. On the contrary, they claim that their controls detected and mitigated these activities.
* Legal Actions: The platform's lawyers have already sent letters demanding an immediate correction and the withdrawal of the articles, labeling them as defamatory.
* Transparency: The exchange highlighted that between 2024 and 2026 it has reduced its direct exposure to Iranian exchanges by 97.3%.
3๏ธโฃ Strength of Reserves: The Liquidity Shield ๐ก๏ธ๐ฐ
Amid the FUD (Fear, Uncertainty, and Doubt), Binance has published updated data on its reserves today:
* It consolidates as a global leader with a stablecoin reserve exceeding 65%.
* Its reserves are 5 times greater than those of its closest competitor, sending a message of total solvency amid rumors of insolvency that circulated weeks ago.
