Changpeng Zhao

Setting the Record Straight on Binance Compliance | Co-CEO Richard Teng & CCO Noah Perlman

Binance co‑CEO Richard Teng and CCO Noah Perlman used a video briefing to rebut recent media claims that the exchange neglects compliance and sanctions obligations. They emphasized that the firm has poured hundreds of millions of dollars into a global compliance framework, hiring dedicated sanctions, financial‑crime and intelligence teams and embedding controls throughout the business. The executives highlighted concrete results: no employee has ever been fired for raising compliance concerns; internal reviews found no sanctioned users in the disputed Iranian‑linked transactions; and sanctions‑related exposure fell roughly 97% over an 18‑month period. They also cited a surge in cooperation with authorities, responding to more than 71,000 law‑enforcement requests in 2025 and helping seize over $130 million in illicit funds. “None of the Binance users involved were sanctioned, and no wallet was designated at the time of the activity,” Teng said, underscoring the importance of context in on‑chain investigations. He added that the company’s culture prioritizes trust, escalation, and transparent action, countering narratives of indifference. The clarification aims to restore regulator confidence and reassure investors that Binance’s compliance program is robust and evolving. Demonstrating measurable risk reductions and active law‑enforcement collaboration could smooth licensing negotiations and mitigate future legal exposure, influencing the broader crypto industry’s push toward stricter oversight.