At least five compliance and investigations employees at cryptocurrency exchange Binance were fired after internal reporting flagged more than $1 billion in transaction activity allegedly originating from Iran. It is reported that the transactions in question were carried out using the Tron blockchain over Tether’s USDT stablecoin between March 2024 and August 2025.
Sanctions Against Iran and USDT Usage
Various independent analyzes have recorded that organizations linked to Iran, which have been forced to stay outside the banking system, have made large-scale transfers through stablecoins. This type of transactions made with USDT via the Tron network have become a prominent model in the audit and violation processes of financial sanctions imposed by the USA in recent years.
The Office of Foreign Assets Control (OFAC) of the US Treasury Department recently announced sanctions against two UK-based cryptocurrency exchanges due to the transfer of almost $1 billion in digital assets related to the Iranian Revolutionary Guard Corps. It was stated that the transactions on these exchanges are mainly carried out via the Tron blockchain via USDT.
Separations from the Investigation Team at Binance
It was claimed that the layoffs in the Binance exchange started from the end of 2025. The majority of employees who were dismissed or left during the process involving the company are those with experience in law enforcement and senior investigative positions. It is reported that at least nine senior compliance personnel have left their positions in recent months.
Although Binance is decentralized, it is among the world’s largest cryptocurrency platforms by transaction volume. Recently, the company has faced increased scrutiny from global regulators regarding compliance, transparency and adherence to enforcement practices. Binance management did not confirm that the alleged Iran-related transfers violated sanctions laws.
Analytical Company Reports and Central Bank Transactions
Findings from blockchain analysis companies such as Elliptic and Chainalysis also show that the combination of USDT and Tron plays a key role in large transaction movements linked to Iran. It was shared that the Central Bank of Iran purchased USDT worth 500 million dollars to create a stablecoin reserve, which is equivalent to the US dollar, due to the pressures on the national currency. According to Elliptic’s assessment, this step aims to create foreign exchange liquidity outside the banking system.
These developments show that stablecoins—especially USDT—are emerging as a financial solution for actors trying to avoid international sanctions. Many relevant authorities and analysis companies note that these networks are used for both money laundering and sanctions evasion attempts.
OFAC and other agencies point out that Tron-based stablecoin flows provide new financial and payment models for sanctioned countries and entities such as Iran. This situation brings to the agenda discussions about the regulation and control of digital assets on a global scale.
The allegations regarding Binance have not yet resulted in any new sanctions or legal action. However, the development brings into question the role and responsibilities of cryptocurrencies and exchange platforms globally in the face of regulations.
