DOJ Investigates Binance Over Alleged $1B+ Iran Sanctions Evasion as CZ's Net Worth Hits $110B

The U.S. Department of Justice is investigating whether more than $1B in transactions passed through Binance to help Iran evade American sanctions and fund Iran-backed militant networks, The Wall Street Journal reports. The probe focuses on flows routed via Binance to entities supporting groups including Yemen's Houthi militants and follows the shutdown of a prior internal investigation at Binance that examined the same suspected network. The development coincides with Binance founder Changpeng Zhao's net worth climbing to about $110B over the past year, a $47B increase that places him above Microsoft cofounder Bill Gates on Forbes' global rich list, tied largely to Binance's estimated $100B valuation and his roughly 90% ownership stake. Binance, the largest crypto exchange by trading volume, produced around $16B–$17B in revenue in 2024–2025, processed more than $30T in annual trading volume and held about 38% of global market share.