Binance has refuted a Wall Street Journal report claiming that Iranian financier Babak Zanjani used the platform to facilitate $850 million in transactions over two years. Richard Teng, a Binance executive, labeled the report as "fundamentally inaccurate," asserting that the transactions occurred before the imposition of sanctions. The WSJ article alleged that Zanjani, who is under international sanctions, utilized Binance as part of a broader network to move substantial funds. Binance's response highlights the ongoing scrutiny and challenges faced by cryptocurrency exchanges in ensuring compliance with global financial regulations.