US Senator Questions Binance’s Iran Disclosures After $1.7B Flow Report

US Senator Richard Blumenthal is intensifying scrutiny of Binance after reports suggested Iran-linked flows far exceeded the exchange’s disclosures to Congress.

A follow-up letter asks whether Binance provided incomplete or misleading information to the Senate Permanent Subcommittee on Investigations, widening the gap between Binance’s stated exposure and publicly reported transactions.

In a new letter to Binance CEO Richard Teng, Blumenthal wrote that the exchange may have provided “misrepresentations or misleading information to the Subcommittee and to the public.” The senator is seeking documents that support Binance’s March 6 response and its claim that direct activity with four Iranian exchanges stayed below $110,000.