Senator Richard Blumenthal opens formal inquiry into Binance over alleged $1.7B in transactions linked to sanctioned Iranian entities and Russia's shadow fleet

U.S. Senator Richard Blumenthal has opened a formal investigation into Binance following reports that the exchange processed $1.7 billion in transactions allegedly linked to sanctioned Iranian entities and Russia's shadow fleet. The inquiry examines whether Binance handled these flows in violation of existing sanctions regimes. Binance has denied the allegations.