# Babak Zanjani, an Iranian businessman, reportedly conducted about $850 million in transactions over two years on the world's largest cryptocurrency exchange.

*fintech · news · 2026-05-22 · Moneycontrol*

## Key points

- Babak Zanjani reportedly conducted $850 million in crypto transactions on Binance over two years.
- Zanjani's associates managed multiple flagged accounts using the same devices to evade sanctions.
- Iran's central bank transferred $107 million in crypto into Binance accounts in 2023.
- Authorities tracked about $260 million in 2024-2025 Binance transactions linked to sanctioned Iranian entities.
- Iran reportedly holds a $7.7 billion crypto stash, largely from state-approved Bitcoin mining.

**Companies:** Binance
**Countries:** Iran, United States

[Read the full story on Moneycontrol](https://www.moneycontrol.com/world/iran-s-billion-dollar-crypto-stash-the-antisanction-operator-routing-funds-to-irgc-via-binance-article-13927556.html)

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