A Binance spokesperson cited in the WSJ story said that the exchange “categorically did not directly transact with any sanctioned entities,” and that it had “uncovered a sophisticated, multijurisdictional pattern of financial activity” in which links to Iran were “only identified and sanctioned after Binance began investigating and taking action in lock step with law enforcement to shut down this network.”
Binance sues The Wall Street JournalIn a press release, Binance's Global Head of Litigation, Dugan Bliss, alleged "significant reputational harm and business consequences" resulting from the WSJ's reporting, adding that the lawsuit was a "necessary step to defend ourselves against misinformation" and hold the newspaper accountable for "prioritizing clicks over journalistic integrity."
The exchange added that it has built "one of the largest and most robust compliance programs" in the crypto industry, pointing to "measurable improvements" including the freezing of hundreds of millions of dollars linked to illicit activity. It claimed that sanctions-related exposure had declined by 96.8% from January 2024 to July 2025, and that direct exposure to Iran's four major crypto exchanges had dropped by 97.3% between January 2026 and January 2026.
Decrypt has reached out to Binance for comment and will update this article should the exchange respond.
