Iran reportedly funneled billions through Binance to fund its military
Iran has reportedly channeled billions through Binance to support its military operations, despite previous sanctions against the company. An individual linked to these transactions, Babak Zanjani, conducted significant trades on the platform, raising concerns about money laundering. Binance has faced scrutiny and legal challenges regarding its compliance with sanctions, including a recent probe initiated by Senator Richard Blumenthal.
- ▪Iran has allegedly funneled billions through Binance to fund its military.
- ▪Babak Zanjani reportedly made $850 million in transactions on Binance until December 2025.
- ▪Around $425 million may have been used to finance Iran's military according to experts.
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News Iran reportedly funneled billions through Binance to fund its military The crypto company previously pled guilty to violating Iran sanctions. By Steve Dent May 22, 2026 7:40 am EST Justin Sullivan/Getty Images Iran has reportedly still found ways to funnel money through entities like Binance despite previous sanctions against the company and a jail sentence for its former CEO, Changpeng Zhao. An Iranian named Babak Zanjani, who has called himself an "antisanction operator," made $850 million in transactions on the exchange until as recently as December 2025, according to internal Binance compliance reports seen by The Wall Street Journal. That's on top of another $1.7 billion that the same network may have moved through Binance, as reported earlier by The New York Times and WSJ.
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