• Binance claims sanctions exposure fell 97% since Jan 2024, now 0.009% of total volume. • Company attributes decline to internal review and removal of non-compliant staff. • Binance denies Fortune report alleging dismissal of investigators over sanctions concerns. • Exchange cut direct exposure to four Iranian exchanges from $4.19M to $110K. • Binance now dedicates ~25% of staff to compliance and invested hundreds of millions USD. • Company emphasizes compliance efforts to counter mischaracterized reporting and restore trust.
Article Summaries:
- Binance announced that its exposure to sanctioned entities and high‑risk jurisdictions has dropped by roughly 97 % since January 2024, now representing about 0.009 % of total trading volume. The claim follows a February 13 Fortune article alleging the firm fired five investigators who had flagged Iranian sanctions violations. Binance denied the allegations, stating the dismissals were due to breaches of data‑protection and confidentiality policies, not compliance concerns. Between January 2024 and January 2026, the exchange cut direct exposure to the four largest Iranian exchanges from $4.19 million to $110 000. It highlighted that 25 % of its global staff now focuses on compliance and that it has invested hundreds of millions of dollars in related programs.
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