• Senator opens probe on Binance over alleged $1.7 billion flow to Iranian entities Richard Blumenthal sent Binance co-chief Richard Teng a letter asking him for records about the exchange’s dealings with Iran-linked entities and the alleged dismissal of its investigators. • What to know: Senator Richard Blumenthal has opened a Senate probe into Binance over reports that $1.7 billion was transferred from the crypto exchange to Iran-linked organizations, including Yemen’s Houthi militants. • Binance has denied the allegations, saying it has strict know-your-customer and compliance procedures and no Iranian users, while asserting that media reports about internal investigators’ dismissals are false. • Blumenthal has requested records on Binance’s dealings with Hong Kong entities tied to the alleged transfers and on the suspension and firing of compliance staff, as the exchange conducts its own internal review to be reported to the Justice Department. • Senator Richard Blumenthal, a top Democrat on the Senate Homeland Security Committee, on Tuesday opened a probe intoalleged sanctions violationsat crypto exchange Binance, the New York Timesreported on Wednesday. • Blumenthal, who represents Connecticut, sent Binance a letter asking about the $1.7 billion allegedly transferred from accounts on the platform to Iran-linked organizations, including Yemen’s Houthi militants.

Article Summaries:

  • U.S. Senator opens probe on Binance over alleged $1.7 billion flow to Iranian entities Richard Blumenthal sent Binance co-chief Richard Teng a letter asking him for records about the exchange’s dealings with Iran-linked entities and the alleged dismissal of its investigators. What to know: - Senator Richard Blumenthal has opened a Senate probe into Binance over reports that $1.7 billion was transferred from the crypto exchange to Iran-linked organizations, including Yemen’s Houthi militants. - Binance has denied the allegations, saying it has strict know-your-customer and compliance procedures

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