PANews reported on May 22 that Binance Co-CEO Richard Teng stated on the X platform: "The Wall Street Journal's report contains fundamental factual inaccuracies and distorts Binance's commitment to a robust compliance framework. Binance has never allowed any user on its platform to transact with sanctioned individuals. The transactions mentioned in the Wall Street Journal occurred before the individuals were placed on the sanctions list. Binance proactively investigated these issues before the Wall Street Journal contacted us and provided the findings to the newspaper, but they were not published. Binance has zero tolerance for illegal activities and has established and operates an industry-leading, continuously improving, first-class compliance system. Binance will continue to work closely with U.S. and global law enforcement agencies to combat financial crime."