Senator Richard Blumenthal, the Democratic leader of the Senate Homeland Security Committee, has launched an investigation into Binance's alleged sanctions violations. Blumenthal has written to Binance inquiring about allegations of transferring $1.7 billion to organizations linked to Iran. Blumenthal is requesting transaction records between Binance and the entities suspected of involvement in the alleged fund transfers, as well as records of previous suspensions and dismissals of compliance personnel. U.S. investigators have identified two entities involved in transferring funds to Iran. A Binance spokesperson responded that the New York Times' previous report was inaccurate. Binance has strict KYC and compliance processes and has no Iranian users on its platform. The spokesperson reiterated that the reports in the New York Times, the Wall Street Journal, and Fortune regarding the dismissal of the four investigators involved are false. Yesterday, Binance co-CEO Richard Teng posted on social media, stating, "Recent reports regarding Binance's compliance projects are inaccurate. The Wall Street Journal published defamatory statements, and despite our efforts to clarify the facts, the reporter has not responded to any of our corrections. Binance has sent an attached letter demanding an immediate correction and full retraction of these false statements." (CoinDesk)