Iran Reportedly Funneled Billions Through Binance to Fund Its Military The latest revelation that Iranian entities have found ways to funnel billions through Binance to fund their military is a stark reminder of the ongoing cat and mouse game between Tehran and the global financial system.
The fact that Binance, which had previously pleaded guilty to violating Iran sanctions, continued to turn a blind eye to these transactions raises more questions than answers about its commitment to compliance.
Internal reports suggest that Babak Zanjani, an Iranian with a reputation for being an "antisanction operator," made $850 million in transactions on the exchange until as recently as December 2025.