Setting the Record Straight on Binance Compliance | Co-CEO Richard Teng & CCO Noah Perlman

I'm Richard Ting, co-CE of Binance.

Before this role, I spent more than two decades as a financial services regulator. I sat on the other side of

regulator. I sat on the other side of the table and I know what real proper functioning compliance should look like and how seriously it has to be taken.

Binance has paid a heavy price for compliance shortfall in the past. We

have since expanded great care, extraordinary resources to get our compliance onto a strong footing and our efforts are evident. That's why I could not help but take the recent media

allegations about Binance to heart. We

welcome good faith scrutiny, but these claims are not there. They fundamentally

misrepresent the company and the compliance function were built up over the last few years. The irresponsible

media coverage suggested reckless indifference to or disregard of compliance and sanction obligations on our part and this is simply false and misleading. We have built a robust,

misleading. We have built a robust, responsible compliance program that serve to protect our users, our platform, and we work proactively with law enforcement agencies globally to

detect and fight illicit crimes. We need

to address these reckless claims head on. Over the last several years, Binance

on. Over the last several years, Binance has fundamentally rebuilt its compliance framework in a structural way. We invest

hundreds of millions of dollars, built global teams across sanctions, financial crime investigations and intelligence, and embedded compliance controls into

how the business operates. That work is real and measurable, and it's deeply personal for the teams who do it every day. So when speculative coverage

day. So when speculative coverage implies that this work was ignored or overridden, it disregards years of effort by people who take this

responsibility seriously. Let's talk

responsibility seriously. Let's talk through the facts. Let me be very clear about this. No one at Binance has ever

about this. No one at Binance has ever been dismissed for raising compliance concerns. Our investigations teams

concerns. Our investigations teams surface issues constantly. That is their job. Those issues are reviewed,

job. Those issues are reviewed, escalated, and acted upon in line with our framework. In cases referenced in

our framework. In cases referenced in media reporting, employee departures were tied to internal policy breaches and not the substance of investigative

findings. A healthy compliance culture

findings. A healthy compliance culture depends on trust. Trust that concerns will be heard and trust that processes will be followed. That culture exists

here. I see it every day. Another

here. I see it every day. Another

serious claim relates to alleged transfers involving Iranian linked entities and large dollar figures being cited without critical context.

Binance's internal review did not find evidence that Binance users transacted with sanctioned persons or wallets at the time of the activity. None of the

Binance users involved were sanctioned.

None of the wallets receiving funds were were designated as sanctioned at the time of the transactions. In fact, the final recipient wallets were designated as sanctioned by law enforcement only

after the activity had come to an end.

Some transactions involve multiple intermediary wallets which is not uncommon in complex onchain ecosystems.

That is why we investigate, assess risk exposure and act when risk indicators emerge. This is how an effective

emerge. This is how an effective compliance program should work. We work

with regulators and law enforcement globally. If concerns are raised,

globally. If concerns are raised, they're acted on. The insinuations that we will do otherwise run counter to everything we have built over the last several years. I'm proud of many things

several years. I'm proud of many things we built at Binance, but as a former US federal prosecutor and council to a law enforcement agency, what I'm most proud of is our relationship with law

enforcement. In 2025 alone, we responded

enforcement. In 2025 alone, we responded to more than 71,000 law enforcement requests and assisted in the confiscation of over 130 million in

illicit funds.

We've reduced exposure across major risk categories dramatically.

Sanctions related exposure fell by roughly 97% over an 18month period. So

when coverage implies indifference or non-ooperation, it simply contradicts the facts. We'll keep improving and

the facts. We'll keep improving and we'll let the work speak for itself.

>> We will not be distracted by noise.

We'll continue to do the right thing transparently and consistently.