← Binancereviewed 2026-09-07 · 35 claims checked
Fact-check findings
What an automated fact-checker found when it re-read Binance against the sources the page cites. Only the most recent review is shown.
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These findings are produced by an automated reviewer, and its results vary between runs: the same page, checked three times on the same day, came back with 15%, 20% and 34% of its claims disputed, mostly because each run extracted a different number of claims. Treat what follows as leads, not rulings.
“Disputed” means the reviewer could not reconcile the claim with the evidence it cited. It does not mean the claim is false. “Unverifiable” means no reachable source settled it either way.
Nothing here changes the page on its own. A proposed correction is applied only after a human moderator approves it; until then the page reads as it did when reviewed.
disputed
2 claimsThe reviewer could not reconcile the claim with the evidence it cited. This is a lead, not a ruling that the claim is false.
- #27[disputed][awaiting moderator]in the timeline
“Binance compliance executive Tigran Gambaryan detained by Nigerian authorities on money laundering charges. Denied bail and sent to Kuje Prison.”
reviewerTigran Gambaryan was detained by Nigerian authorities on money laundering charges on February 25, 2024, denied bail, and sent to Kuje Prison.The timeline entry compresses three sequential events (arrival/detention in late February 2024, bail denial in May 2024, and transfer to Kuje Prison in April 2024) under a single February 25 date, which misdates the bail denial and prison transfer by one to three months.Proposed correction (not yet applied)Binance compliance executive Tigran Gambaryan and colleague Nadeem Anjarwalla traveled to Abuja and were detained by Nigerian authorities on money laundering charges in late February 2024; Gambaryan was later denied bail and remanded to Kuje Prison in April 2024. - #33[disputed][awaiting moderator]in section: Market Position and Trust Signals
“In Q1 2025, Binance held approximately 36.5% of global centralized exchange spot trading volume, with cumulative spot trading volume reaching $7.23 trillion in 2024.”
reviewerIn Q1 2025, Binance held approximately 36.5% of global centralized exchange spot trading volume.The page attributes the 36.5% figure specifically to 'spot trading volume,' but the underlying TokenInsight data being cited describes 36.5% as Binance's share of total (spot + derivatives) CEX volume; Binance's spot-only share for the quarter was reported separately at 45%.Proposed correction (not yet applied)In Q1 2025, Binance held approximately 36.5% of global centralized exchange trading volume, with cumulative spot trading volume reaching $7.23 trillion in 2024.
unverifiable
3 claimsNo source the reviewer could reach confirms or contradicts the claim.
- #31[unverifiable][awaiting moderator]in section: Leadership Transition: Richard Teng and Regulatory Expansion
“By January 2025, Binance reported achieving 21 global regulatory milestones, including a licensed broker-dealer designation in Brazil, and described itself as the most globally licensed crypto exchange.”
reviewerBy January 2025, Binance reported achieving 21 global regulatory milestones, including a licensed broker-dealer designation in Brazil.Could not independently locate a source confirming the specific '21 global regulatory milestones' figure or the exact January 2025 timing within search budget; this appears to originate from Binance's own self-reported marketing materials rather than independent reporting. - #32[unverifiable][awaiting moderator]in section: Leadership Transition: Richard Teng and Regulatory Expansion
“Teng has also worked to transition Binance from a founder-led structure to a board-governed organization, and institutional onboarding reportedly doubled in 2024.”
reviewerInstitutional onboarding at Binance reportedly doubled in 2024.The same claim also appears in sections[14] ('Institutional onboarding at Binance reportedly doubled year-over-year in 2024.'). Could not independently verify this specific statistic; it reads as a self-reported company metric rather than independently audited data. - #35[unverifiable][awaiting moderator]in section: Market Position and Trust Signals
“Binance launched a Proof of Reserves (PoR) system in late 2022 and has maintained it, using Merkle tree verification and, since February 2023, zero-knowledge proof (zk-SNARK) technology to allow users to verify 1:1 asset backing.”
reviewerBinance has used zero-knowledge proof (zk-SNARK) technology since February 2023 for its Proof of Reserves system.No source is cited for this specific claim, and it was not independently verified within the search budget for this review.
partially supported
2 claimsThe cited evidence supports part of the claim but not all of it.
- #5[partially supported][awaiting moderator]in section: Company Overview and Founding
“Binance's native token, BNB (Binance Coin), was issued as an ERC-20 token on Ethereum before migrating to BNB Chain in 2019.”
reviewerBNB migrated from an ERC-20 token on Ethereum to 'BNB Chain' in 2019.The 2019 migration date is correct, but the chain was called 'Binance Chain' at the time; 'BNB Chain' is an anachronistic name applied retroactively after the 2022 rebrand. - #11[partially supported][awaiting moderator]in section: DOJ, FinCEN, and OFAC Settlement — $4.3 Billion Penalty (2023)
“facilitated more than 1.5 million virtual currency transactions totaling nearly $900 million involving sanctioned entities including Hamas's Qassam Brigades, al-Qaeda, Palestinian Islamic Jihad, and the Islamic State”
reviewerBinance facilitated more than 1.5 million virtual currency transactions totaling nearly $900 million involving Hamas's Qassam Brigades, al-Qaeda, Palestinian Islamic Jihad, and the Islamic State.The page conflates two distinct settlement figures — the ~1.5-1.67 million trades tied to broadly sanctioned jurisdictions, and a much smaller, separately reported set of transactions specifically linked to terrorist organizations — into a single sentence that attributes the large transaction count and dollar figure directly to the named terrorist entities.
confirmed
28 claimsThe cited evidence supports the claim as written.
- #1[confirmed][no action needed]in the summary
“Binance is the world's largest cryptocurrency exchange by trading volume, founded in 2017 by Changpeng Zhao (CZ).”
reviewerBinance was founded in 2017 by Changpeng Zhao (CZ) and is the world's largest cryptocurrency exchange by trading volume.Widely and consistently reported; not disputed by any credible source. - #2[confirmed][no action needed]in the summary
“In November 2023, Binance and CZ pleaded guilty to U.S. federal charges and agreed to pay $4.3 billion in combined penalties for Bank Secrecy Act violations, unlicensed money transmission, and sanctions evasion — the largest financial penalty ever imposed on a cryptocurrency company.”
reviewerIn November 2023, Binance and CZ pleaded guilty to U.S. federal charges and agreed to pay $4.3 billion in combined penalties.Direct WebFetch of the CFTC order and search corroboration of the DOJ release confirm the figures and characterization. - #3[confirmed][no action needed]in the summary
“CZ resigned as CEO, served a four-month prison sentence in 2024, and was controversially pardoned by President Trump in October 2025.”
reviewerCZ resigned as CEO, served a four-month prison sentence in 2024, and was pardoned by President Trump in October 2025.Confirmed by multiple independent tier-1 sources found via search. - #4[confirmed][no action needed]in section: Company Overview and Founding
“Zhao launched Binance through an initial coin offering (ICO) in July 2017 that reportedly raised between $5 million and $15 million — the exact figure is disputed, with a Forbes investigation finding the actual amount was below $5 million, contrary to the $15 million figure publicized by Zhao.”
reviewerBinance's 2017 ICO reportedly raised between $5M-$15M, with a Forbes investigation finding the actual figure was below $5M contrary to the $15M CZ publicized.Verified independently; the page's characterization of the dispute matches the Forbes findings precisely. - #6[confirmed][no action needed]in section: Leadership Transition: Richard Teng and Regulatory Expansion
“In December 2025, Binance secured three full regulatory licenses from ADGM under entities named Nest Exchange Ltd., Nest Clearing and Custody Ltd., and Nest Trading Ltd., operating under the Binance.com global platform. These entities commenced regulated activities in January 2026.”
reviewerIn December 2025, Binance secured three full regulatory licenses from ADGM under entities named Nest Exchange Ltd., Nest Clearing and Custody Ltd., and Nest Trading Ltd., commencing regulated activities in January 2026.Entity names, structure, and go-live date match independent reporting exactly. - #7[confirmed][no action needed]in section: DOJ, FinCEN, and OFAC Settlement — $4.3 Billion Penalty (2023)
“On November 21, 2023, the U.S. Department of Justice announced that Binance Holdings Limited pleaded guilty to three federal criminal charges: conspiracy to violate the Bank Secrecy Act (BSA) by failing to maintain an effective anti-money laundering (AML) program; conducting an unlicensed money services business; and willfully violating the International Emergency Economic Powers Act (IEEPA).”
reviewerOn November 21, 2023, DOJ announced Binance Holdings Limited pleaded guilty to three federal criminal charges (BSA conspiracy, unlicensed money services business, IEEPA violation).Confirmed via search-cached DOJ content; direct WebFetch of this URL returned an empty render, but the page is indexed live with matching title/content, so this is not treated as link rot. - #8[confirmed][no action needed]in section: DOJ, FinCEN, and OFAC Settlement — $4.3 Billion Penalty (2023)
“FinCEN assessed a civil monetary penalty of $3.4 billion and imposed a five-year compliance monitorship.”
reviewerFinCEN assessed a $3.4 billion civil penalty and imposed a five-year compliance monitorship.Confirmed by independent search corroboration of Treasury's own figures. - #9[confirmed][no action needed]in section: DOJ, FinCEN, and OFAC Settlement — $4.3 Billion Penalty (2023)
“OFAC assessed a separate penalty of $968 million for sanctions violations.”
reviewerOFAC assessed a separate $968 million penalty for sanctions violations.Confirmed. - #10[confirmed][no action needed]in section: DOJ, FinCEN, and OFAC Settlement — $4.3 Billion Penalty (2023)
“it processed over $898 million in trades between U.S. and Iranian users”
reviewerBinance admitted it processed over $898 million in trades between U.S. and Iranian users between January 2018 and May 2022.This specific figure matches DOJ/Treasury settlement materials as reported by Forbes and others. - #12[confirmed][no action needed]in section: CFTC Enforcement Action
“The consent order required Binance to pay $1.35 billion in disgorgement and a further $1.35 billion civil monetary penalty, plus CZ personally paid $150 million.”
reviewerThe CFTC consent order required $1.35B disgorgement, $1.35B civil penalty, plus $150M personally from CZ.Directly verified against the CFTC's own press release text. - #13[confirmed][no action needed]in section: SEC Lawsuit: 13 Charges (2023–2025)
“On June 5, 2023, the SEC filed a civil lawsuit in the U.S. District Court for the District of Columbia, bringing 13 charges against Binance Holdings Limited, BAM Trading Services Inc. (Binance.US), BAM Management US Holdings Inc., and founder Changpeng Zhao.”
reviewerOn June 5, 2023, the SEC filed a civil lawsuit bringing 13 charges against Binance Holdings, BAM Trading, BAM Management, and CZ.Confirmed by widely corroborated contemporaneous reporting. - #14[confirmed][no action needed]in section: SEC Lawsuit: 13 Charges (2023–2025)
“On May 29, 2025, under SEC Chairman Paul Atkins and the Trump administration, the SEC filed to dismiss the lawsuit with prejudice, ending the enforcement action. Binance publicly thanked the Trump administration for the dismissal.”
reviewerOn May 29, 2025, under SEC Chairman Paul Atkins, the SEC dismissed the lawsuit with prejudice, and Binance publicly thanked the Trump administration.Confirmed, including the specific detail that Binance publicly credited the Trump administration. - #15[confirmed][no action needed]in section: CZ Guilty Plea, Sentencing, and Presidential Pardon
“Changpeng Zhao personally pleaded guilty in November 2023 to one count of violating the Bank Secrecy Act by failing to maintain an effective AML program at Binance. He agreed to pay a $50 million personal fine and resign as CEO. On April 30, 2024, U.S. District Judge Richard Jones in Seattle sentenced Zhao to four months in federal prison, rejecting prosecutors' request for a three-year term.”
reviewerCZ personally pleaded guilty in November 2023, agreed to a $50 million fine, and was sentenced April 30, 2024 to four months by Judge Richard Jones in Seattle, rejecting a three-year request.Confirmed by widely corroborated reporting. - #16[confirmed][no action needed]in section: CZ Guilty Plea, Sentencing, and Presidential Pardon
“On October 23, 2025, President Donald Trump granted Zhao a full presidential pardon. The White House characterized the prosecution as a Biden administration 'war on cryptocurrency.' The pardon drew immediate bipartisan criticism from members of Congress, given reported financial ties between the Trump family's World Liberty Financial crypto venture and Binance. Trump claimed in a subsequent 60 Minutes interview that he did not know who Zhao was, which drew further scrutiny given the documented connections.”
reviewerOn October 23, 2025, Trump pardoned Zhao; Trump later claimed in a 60 Minutes interview he did not know who Zhao was.All elements independently confirmed, including the specific 60 Minutes quote. - #17[confirmed][no action needed]in section: Terrorist Financing and Ongoing Sanctions Exposure
“In November 2025, 306 families of Americans killed or injured in the October 7, 2023 Hamas attacks filed suit in U.S. District Court in North Dakota against Binance, CZ, and executive Guangying Chen under the Justice Against Sponsors of Terrorism Act.”
reviewerIn November 2025, 306 families of October 7 Hamas attack victims sued Binance, CZ, and Guangying Chen under JASTA in North Dakota federal court.Plaintiff count, venue, legal theory, and named defendants all corroborated. - #18[confirmed][no action needed]in section: Terrorist Financing and Ongoing Sanctions Exposure
“In March 2026, the U.S. Department of Justice opened a new investigation into whether Iran used Binance to circumvent U.S. sanctions, with Fortune reporting that over $1.7 billion was transferred from Binance accounts to Iran-linked entities.”
reviewerIn March 2026, DOJ opened a new investigation into whether Iran used Binance to evade sanctions, with Fortune reporting over $1.7 billion transferred to Iran-linked entities.Confirmed via multiple independent post-cutoff sources found through search. - #19[confirmed][no action needed]in section: Terrorist Financing and Ongoing Sanctions Exposure
“U.S. Senator Richard Blumenthal opened a formal congressional inquiry into the matter in April 2026. The U.S. Treasury separately sent Binance a letter tightening pressure on compliance monitors regarding potential ongoing sanctions violations as of May 2026.”
reviewerSenator Blumenthal opened a congressional inquiry in April 2026; Treasury separately sent a letter tightening pressure on compliance monitors around May 2026.Both the Blumenthal inquiry and the Treasury letter are independently confirmed via post-cutoff reporting. - #20[confirmed][no action needed]in section: Security Incidents
“In May 2019, hackers stole 7,074 BTC (approximately $40.7 million) in a single transaction from Binance's hot wallet by exploiting phishing attacks, malware, and compromised API keys and 2FA codes.”
reviewerIn May 2019, hackers stole 7,074 BTC (~$40.7M) from Binance's hot wallet via phishing, malware, and compromised API keys/2FA.One of the most extensively documented incidents in the exchange's history; confirmed. - #21[confirmed][no action needed]in section: Security Incidents
“In October 2022, attackers exploited a cryptographic vulnerability in the BSC Token Hub cross-chain bridge connecting BNB Beacon Chain and BNB Smart Chain, forging proofs to mint approximately 2 million BNB tokens valued at roughly $570 million. Binance coordinated with network validators to halt the BNB Chain, limiting unrecovered losses to approximately $100 million.”
reviewerIn October 2022, attackers exploited the BSC Token Hub bridge to mint ~2M BNB (~$570M); Binance halted the chain, limiting unrecovered losses to ~$100M.Confirmed by well-known, widely reported incident details. - #22[confirmed][no action needed]in section: Security Incidents
“In August 2019, a separate incident involved KYC (Know Your Customer) data belonging to up to 60,000 users allegedly leaking from a third-party vendor, with a blackmailer demanding 300 BTC (approximately $3.5 million).”
reviewerIn August 2019, KYC data belonging to up to 60,000 users allegedly leaked from a third-party vendor; a blackmailer demanded 300 BTC (~$3.5M).The page's careful hedging ('up to,' 'allegedly') accurately captures the range reported at the time between the blackmailer's stated leverage (~10,000 users) and the total scope of exposed vendor data (~60,000). - #23[confirmed][no action needed]in section: BUSD Stablecoin Shutdown
“In February 2023, the New York Department of Financial Services (NYDFS) ordered Paxos to cease minting new BUSD tokens, citing unresolved issues related to Paxos's oversight of its relationship with Binance.”
reviewerIn February 2023, NYDFS ordered Paxos to cease minting BUSD, citing unresolved issues with Paxos's oversight of its Binance relationship.Confirmed; consistent with SEC Wells notice and subsequent BUSD wind-down timeline in the same section. - #24[confirmed][no action needed]in section: Role in FTX Collapse
“On November 6, 2022, CZ publicly announced via Twitter that Binance would liquidate its approximately $580 million holding of FTT (FTX's native token), citing a CoinDesk report about the composition of Alameda Research's balance sheet. The announcement triggered a bank run, with approximately $6 billion withdrawn from FTX over 72 hours.”
reviewerCZ tweeted Nov 6, 2022 that Binance would liquidate ~$580M in FTT holdings, triggering a ~$6B bank run on FTX over 72 hours.This is among the most extensively documented events in crypto history and is accurately summarized. - #25[confirmed][no action needed]in section: Role in FTX Collapse
“Former Alameda Research CEO Caroline Ellison testified in subsequent proceedings that CZ's tweet 'contributed' to FTX's collapse, though analysts have debated whether the underlying insolvency was the primary cause.”
reviewerCaroline Ellison testified that CZ's tweet 'contributed' to FTX's collapse.Confirmed and appropriately hedged. - #26[confirmed][no action needed]in section: Market Manipulation and Whistleblower Allegations
“In May 2024, the Wall Street Journal reported that Binance fired the head of its market surveillance team after he submitted an internal report alleging that VIP client DWF Labs had conducted approximately $300 million in wash trades in 2023 on the Binance platform.”
reviewerIn May 2024, WSJ reported Binance fired its head of market surveillance after he alleged DWF Labs conducted ~$300M in wash trades in 2023.Confirmed, and the page appropriately notes the allegation is disputed and unadjudicated. - #28[confirmed][no action needed]in section: Compliance Monitor, Ongoing Oversight, and DOJ Monitor Removal Talks
“Forensic Risk Alliance was selected to serve as DOJ compliance monitor. Sullivan and Cromwell partner was selected as the FinCEN/Treasury monitor for a five-year term beginning in 2024.”
reviewerForensic Risk Alliance was selected as DOJ compliance monitor; a Sullivan and Cromwell partner was selected as the FinCEN/Treasury monitor for a five-year term.Both monitor selections and their distinct terms are independently confirmed. - #29[confirmed][no action needed]in section: Compliance Monitor, Ongoing Oversight, and DOJ Monitor Removal Talks
“In 2025, reports emerged that Binance was in talks with the DOJ under the Trump administration about potentially removing the DOJ compliance monitor requirement before its scheduled expiration.”
reviewerIn 2025, Binance was in talks with DOJ under the Trump administration about removing the DOJ compliance monitor before its scheduled expiration.Confirmed by the cited reporting and corroborated by the Senate Banking Committee letter referenced elsewhere on the page. - #30[confirmed][no action needed]in section: Binance.US (BAM Trading) Operations
“In 2024, multiple U.S. states took action: Oregon revoked Binance.US's money transmitter license in April 2024 following CZ's felony conviction, and Georgia obtained BAM Trading's voluntary license surrender in August 2024.”
reviewerIn 2024, Oregon revoked Binance.US's money transmitter license (April) following CZ's felony conviction, and Georgia obtained BAM Trading's voluntary license surrender (August).Both state regulatory actions and their stated rationale are confirmed directly from the regulators' own releases. - #34[confirmed][no action needed]in section: Market Position and Trust Signals
“In February 2026, Binance converted its $1 billion SAFU (Secure Asset Fund for Users) emergency reserve from stablecoins into approximately 15,000 BTC.”
reviewerIn February 2026, Binance converted its $1 billion SAFU emergency reserve from stablecoins into approximately 15,000 BTC.Confirmed via independent post-cutoff reporting corroborating the exact BTC quantity and dollar value.
How this fits together. The reviewer reads the published page and its cited sources and records one finding per claim. A human moderator decides whether each proposed correction is applied; those decisions, and the score changes they cause, appear in the audit log. Earlier review runs are not shown here; only the latest reflects the page as it stands.