{"text":[[{"start":0,"text":"Two Chinese companies used Binance accounts to launder $61mn in payments for black-market Iranian oil and attempted to funnel the funds back to the Iranian government, US prosecutors have alleged."}],[{"start":24.926,"text":"The justice department filed a forfeiture complaint seeking to seize the funds, which were sent through a network of digital wallets that received and distributed more than $1.5bn in proceeds from the illicit sale of Iranian oil, according to the US government. At least some of the funds were used to finance terrorism, prosecutors said."}],[{"start":44.68,"text":"The $61mn in transactions subject to the US forfeiture effort occurred in May and June last year and were frozen in the ensuing months, prosecutors said."}],[{"start":55.2,"text":"“Individuals and entities have used cryptocurrency trading accounts at Binance to conduct cryptocurrency transactions representing the proceeds of black-market sales of Iranian oil to buyers in China that were funnelled to the Government of Iran, its agents, and its proxies to finance terrorist activities,” prosecutors said in the seizure complaint."}],[{"start":74.48,"text":"In a prepared statement, a Binance spokesperson said: “This case was not filed against Binance and does not allege wrongdoing by Binance. Binance has zero tolerance for sanctions violations or illicit activity, and Binance did not permit any transactions with sanctioned individuals. We will continue to co-operate with law enforcement on this matter.”"}],[{"start":94.8,"text":"The case was filed against currency in a series of digital wallets, not against Binance or the two Chinese companies, Hexa Whale Trading and Blessed Trust. The DoJ also did not specify the terrorist activity that the funds were used to finance."}],[{"start":109.861,"text":"Binance pleaded guilty to US criminal charges in 2023 related to breach of anti-money laundering laws and paid a $4.3bn fine. The group’s founder Changpeng Zhao pleaded guilty to failing to protect against money laundering and was sentenced to four months in federal prison."}],[{"start":126.373,"text":"US President Donald Trump pardoned Zhao in October last year, as he has embraced cryptocurrencies during his second White House term and overhauled US regulatory oversight of the industry."}],[{"start":137.916,"text":"An Abu Dhabi fund purchased a $2bn Binance equity stake from Zhao last year and paid entirely using USD1, a stablecoin issued by World Liberty Financial, a crypto company controlled by Trump’s family."}],[{"start":151.426,"text":"Binance.com does not operate in the US. US customers are served by a separate entity, Binance.US. The company remains subject to a monitorship until 2028 under a plea agreement it entered with the US Treasury and justice departments."}],[{"start":170.8,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1789541835_5595.mp3"}