Crypto Drama: Binance CEO Teng Slams WSJ’s “Defamatory” Iran Claims

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Darling, gather round, for the latest tête-à-tête in the world of crypto has all the finesse of a badly choreographed tango. Richard Teng, the dashing CEO of Binance, has taken it upon himself to give The Wall Street Journal a thoroughly deserved dressing-down. The audacity! Accusing his esteemed exchange of allowing billions to slip into Iranian coffers, in flagrant breach of sanctions, no less. And then, the pièce de résistance-allegedly sacking the poor souls who dared to raise a red flag. How utterly gauche.

In a riposte that could only be described as deliciously Coward-esque, Teng took to his X perch to declare the WSJ’s report “inaccurate” and “defamatory.” Mon Dieu! He even appended a formal letter from the legal eagles at Withersworldwide, demanding corrections and a full retraction. One can almost hear the clinking of champagne glasses as Binance insists it provided 19-yes, 19!-detailed rebuttals, all of which were apparently as welcome as a cold shower at a soiree.

Recently, my dears, there has been the most tiresome reporting about our compliance program.

The Wall Street Journal, in a fit of journalistic pique, published the most defamatory claims. Despite our tireless efforts to set the record straight, the journalist remained as unyielding as a society matron with a grudge. We have sent the…

– Richard Teng (@_RichardTeng) February 24, 2026

“The Wall Street Journal, in its infinite wisdom, published claims so defamatory they could curdle cream,” Teng quipped. “Despite our best efforts to clarify, the journalist remained as obstinate as a mule in a monsoon. We’ve sent a letter demanding immediate corrections and a full retraction of these preposterous statements.”

The Journal, never one to shy away from a scandal, claimed internal probes at Binance uncovered over $1 billion in transactions tied to sanctioned Iranian groups, with whispers of terrorism financing. Stablecoin USDT, darling, was the currency du jour, waltzing through the Tron network. And the coup de grâce? At least five compliance investigators were shown the door after flagging the activity to senior leaders, including our Mr. Teng, in late 2025.

But fear not, for Teng has risen to the occasion with all the aplomb of a seasoned socialite. He points to Binance’s “industry-leading compliance program,” linking to materials that boast a 97% reduction in sanctioned exposure since early 2024. Bravo, Mr. Teng, bravo. One can only hope this drama concludes with a suitably witty denouement-and perhaps a cocktail or two.

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2026-02-24 16:50