U.S. Senator Richard Blumenthal has launched an investigation into Binance, seeking clarification on alleged transfers of $1.7 billion from the platform to entities linked to Iran, including Yemen's Houthi rebels. Blumenthal has written to Binance's co-CEO Richard Teng, requesting records of transactions with related Hong Kong entities and information on compliance staff suspensions or dismissals. Binance has denied the allegations, stating the reports are inaccurate, asserting the platform has no Iranian users, and is conducting an internal review, the results of which will be submitted to the U.S. Department of Justice.