Background and Response
On February 24, Binance co-CEO Richard Teng took to social media to address recent allegations published by the Wall Street Journal, stating that the report contained serious inaccuracies.
Despite multiple attempts to clarify the facts, the journalist behind the piece failed to respond. As a result, Binance has formally written to the WSJ, demanding immediate correction and retraction of the misleading claims.
Compliance Progress and Actions
Binance emphasized that the article misrepresented its compliance framework, relying heavily on the unsubstantiated claims of former employees.
Over the past two years, Binance has made significant strides in strengthening its global compliance systems:
- Expanded sanctions screening and transaction monitoring
- Invested hundreds of millions in compliance infrastructure
- Established one of the largest compliance teams in the industry
- Enhanced governance independence and board oversight
These efforts reflect Binance’s ongoing commitment to uphold the highest standards of regulatory compliance within the digital asset space.