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Crypto’s Role in Iran’s Global Terrorism Exposed by New Lawsuit Against Binance
The logo of cryptocurrency exchange Binance. Illustration: Reuters/Dado Ruvic
Cryptocurrency has come under increasing scrutiny for its alleged role in subverting the United States’ sanctions against Iranian state-sponsored terrorism, with the world’s top platform receiving an unwanted spotlight this week.
On Monday, lawyers in North Dakota sued Binance, the world’s largest cryptocurrency exchange, and its CEO, Changpeng Zhao, alleging the company had facilitated more than $1 billion in funding to designated terrorist groups backed by the Islamic regime in Iran. The US federal lawsuit was filed on behalf of victims of Hamas’s Oct. 7, 2023, invasion of and massacre across southern Israel.
The suit represents the latest instance of cryptocurrency allegedly playing a role in Iran’s efforts to destroy the Jewish state. Leaders of Iran and its network of terrorist groups named in the complaint, including Hamas, Hezbollah, and Palestinian Islamic Jihad (PIJ), routinely declare their goal of wiping Israel off the map.
Israel has previously clashed with Binance in its counter-terrorism efforts. In May 2023, the Jewish state seized nearly 200 accounts on the platform linked to Islamist groups, including ISIS. In November 2022, researchers at Nobitex said that since 2018, Binance had processed $7.8 billion through Iran-linked accounts.
This week’s suit adds further evidence of the recurring link between Iranian terrorism and cryptocurrency, identifying the high profit potential for those willing to attempt to dodge US sanctions against terror financing.
Binance has declined to discuss the lawsuit but told Reuters that “we comply fully with internationally recognized sanctions laws.”
Jonathan Missner, the attorney who represents the Oct. 7 victims and their families named as plaintiffs in the suit, said that Binance’s alleged facilitating of payments to terror groups “was not a compliance” but rather “a business model.”
“Our investigation shows that Binance built systems designed to evade oversight, using its off-chain network and weak controls to move enormous sums for sanctioned groups,” he said in a statement.
The lawsuit states that “by knowingly moving and concealing the movement of hundreds of millions of dollars for Hamas, the IRGC [Iran’s Islamic Revolutionary Guard Corps], Hezbollah, and PIJ, Defendants Binance Holdings Limited, Changpeng Zhao, and Guangying ‘Heina’ Chen provided pervasive and systemic assistance to these terrorist organizations.”
Chen is described in the suit as a co-founder of Binance and “de facto CFO.” The lawsuit charges that Zhao and Chen “materially contributed to the Oct. 7 attacks and to subsequent terrorist attacks perpetrated by Hamas, Hezbollah, and PIJ.”
One of the plaintiffs named in the suit is Eyal Balva, whose son Omer died in combat following the Oct. 7 atrocities while serving in the Israel Defense Forces. “Binance’s platform moved the money that helped fund the violence that destroyed our family,” he said.
Zhao and Binance — the world’s largest crypto trading platform with $300 billion in daily trades and more than 280 million users — have previously faced penalties for criminality. As part of a 2023 settlement agreement with the US Treasury Department’s Financial Crimes Enforcement Network, Binance paid $4.3 billion in fines and restitution. Zhao was previously convicted of money laundering and served four months imprisonment. US President Donald Trump pardoned Zhao, with analysts noting the decision came following a sizable investment by Binance into the Trump family Crypto exchange platform World Liberty Financial.
The lawsuit also notes a money laundering scheme involving transferring gold from Venezuela to Iran to overcome American sanctions, and that Binance “pitched itself to terrorist organizations, narcotics traffickers, and tax evaders as beyond the reach of any single country’s laws or regulations.”
On Wednesday, Iran’s Foreign Minister Abbas Araghchi put out a statement condemning the possibility of potential US military action against Venezuela, labeling the Trump administration’s posture a “bullying approach.”
The filing against Binance comes in a year in which Australian authorities have highlighted the alleged role of cryptocurrency in directing antisemitic hate crimes in Melbourne and Sydney, prompting the expulsion of Iran’s ambassador in August.
Australian Security Intelligence Organization (Asio) chief Mike Burgess said that his team had found connections “between the alleged crimes and the commanders in Iran’s Islamic Revolutionary Guard Corps, the IRGC.”
He added, “They’re just using cut-outs, including people who are criminals and members of organized crime gangs to do their bidding or direct their bidding.”
Cryptocurrency has long functioned as a tool of Iran to evade US sanctions. The high energy costs from the so-called “mining” of cryptocurrency — powerful computers must run complex programs in order to generate additional tokens for trading — has put a strain on Iran’s electrical system. Mohammad Allahdad, Iran’s deputy director of power generation, said that the business practice “represents around 5 percent of total electricity consumption” and “it accounts for up to 20 percent of the current power deficit.”
Allahdad also warned that the heat from crypto mining devices was “intense” and could cause fires. “We’ve had multiple reports from fire departments about fires linked to mining rigs, some of which spread to neighboring homes,” he noted.
Now is potentially the worst time for fires in Iran, given a persistent devastating drought and ongoing government mismanagement of the water system. The situation has reached the point that Iran’s president said last week that the country had “no choice” but to evacuate and move the capital Tehran.
“The truth is, we have no choice left — relocating the capital is now a necessity,” Iranian President Masoud Pezeshkian said in a speech.
The US State Department recently noted that Iran has provided Lebanese Hezbollah with more than $100 million each month this year. Critics of the regime have pointed out that funds spent in the war effort to destroy Israel could have gone toward improving infrastructure to better support the civilian population. Analysts at the Center for Strategic and International Studies noted that one-third of the water supply to Tehran is lost through leaks and theft.
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How New York Jews made pickles a big dill
The Pickled City: The Story of New York Pickles
By Paul van Ravestein and Monique Mulder
Chronicle Books, 224 pages, $27
“Pickles are a favorite food in Jewtown,” muckraker Jacob Riis, referring to the Lower East Side, wrote in How the Other Half Lives, his seminal exposé on poverty. “They are filling and keep the children from crying with hunger. Those who have stomachs like ostriches thrive in spite of them and grow strong — plain proof that they are good to eat.”
Other thinkers from the turn of the last century disagreed, one lamenting, of the children of New York who got their meals from pushcarts, “it speaks volumes for their digestive powers that they don’t die at once.” That was Teddy Roosevelt.
But appropriately for a preserved foodstuff, pickles have had a remarkably long cultural shelf life. The Pickled City: The Story of New York Pickles, a new coffee table book about the ubiquitous cukes, reaches deep into the barrel to chronicle the rise of the pickling industry, giving pride of place to the Jewish immigrants who sealed the business for posterity.
The book is the work of Paul van Ravestein and Monique Mulder of the Dutch branding company Mattmo, and is a successor to their previous book De Zure Stad (The Sour City) about the pickle history of the Netherlands, pioneered by a different set of Jewish immigrants who were, overwhelmingly, murdered in the Shoah.
The Pickled City is a brighter work, though in the early going its emphasis on Jews, stated early and often, is a bit of a head scratcher. Going back to Mesopotamia for early pickling practices, and outlining the largely gentile-owned pickle businesses in the U.S. (the first American pickle outfit, the William Underwood Company, trademarked devilled ham) the Jews appear to be relative latecomers. It was Dutch settlers in what was then New Amsterdam who kickstarted the process of farming and preserving cucumbers.

An earlier wave of German immigrants brought pickle culture to Manhattan before Eastern European Jews took to their pushcarts. But the Jews brought a piquant innovation to their pickles, brining them not in vinegar, but salt water with dill and garlic: the kosher pickle we all know. That variety soon became a bestseller even among the goyische operations like Heinz, a business that was early to apply for kosher certification.
The Jewish love affair with pickles was itself not novel. The Talmud mentions pickled veg as a symbol of abundance and survival and, per van Ravestein and Mulder, the “transformation through pickling — turning a simple, earthy root into a tangy, vibrant dish — was often seen as a metaphor for renewal and the endurance of the Jewish people through adversity.”
We see the enterprise, in pages of archival photos and maps of the pickle shops of yesteryear alongside long-running institutions like Russ & Daughters and Katz’s.
At times, beyond the handsome packaging of the book, the branding agency origins of the authors stick out: A primer on B&G pickles reports their $2.16 billion in net sales, and calls it a “testament to entrepreneurial spirit and innovation in the food industry.” But there are just as many colorful stories that don’t read like investor reports.
We learn, for instance, that Izzy Guss, of Guss’ pickles, beat out the competition after a neighbor in his tenement offered to hook his cart up to electricity with an extension cord, giving the cart a light and allowing Guss to sell at night. (We’re told the cord was cut when Guss refused to marry the neighbor’s daughter.)

The book also touches on the pickling history of Long Island, with a mention of a Samuel Ballton — Pickle King of Greenlawn, a formerly enslaved man and Union veteran who produced 1.5 million pickles in a single season. The industry in Syosset was dealt a major blow with a blight called the “white pickle” disease, and subsequently pivoted to potatoes.
Even with these New York histories, the book often crosses Delancey into a wider world, making a kumbaya case for pickles as a conduit for cultural exchange.
Japanese pickled plums, Indonesian atjar and Indian chutneys are given space toward the back, but their current imprint in New York, on the same streets that once held tenements and peddlers, is oddly glossed over. (I could have tipped them off to the Astoria bagel shop that serves beef bulgogi and kimchi sandwiches.)
“For Jewish families fleeing persecution, pickling was more than a way to save food — it was a way to preserve identity and heritage,” the authors write.
This is not an exclusively Jewish phenomenon. There are 8 million stories in the pickled city. This book cracks the lid, but only skims the surface.
The post How New York Jews made pickles a big dill appeared first on The Forward.
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Israeli-American soldier Moshe Katz, killed in Lebanon rocket strike, laid to rest on Mt. Herzl
(JTA) — Hundreds gathered on Sunday night at Israel’s military cemetery on Mt. Herzl for the funeral of Moshe Yitzchak Hacohen Katz, an American-born Israeli soldier who was killed by a rocket strike on Saturday in southern Lebanon.
Katz, 22, from New Haven, Connecticut, is the fifth Israeli soldier killed in Lebanon since Hezbollah, an Iranian proxy in Lebanon, resumed attacks on Israel following a 2024 ceasefire, after Israeli and U.S. strikes on Iran last month.
“With unspeakable tragedy I regret to inform you that my 22 year old son Moshe Yitzchak a*h a sergeant in the idf, fell in battle in Lebanon,” Katz’s father, Mendy, wrote in a post on Facebook on Saturday. “My oldest Son with a zest for life and jokes. Burial is tomorrow in israel. Maybe we only share good news. My heart is shattered and the wound is real.”
Mendy Katz had been in Israel when the war began and posted on March 7 about witnessing his son’s graduation from basic training with the Israel Defense Forces before returning to the United States via Egypt.
During the funeral on Sunday, Katz, who was posthumously promoted from corporal to sergeant and was affiliated with Chabad, was eulogized by a host of fellow soldiers who referred to him as a “true friend” who “always used to make sure that anyone around him was always taken care of.”
“Moshe was a brave soldier, we have proof of that, but more than that, he was a loyal friend, he was a hard-working son and a loving, caring brother,” Adina, Katz’s sister, said between tears during her eulogy. “Moshe’s body might be gone, but his legacy is not. He was a proud soldier and a proud Jew, and we are the proudest family.”
Israeli Prime Minister Benjamin Netanyahu offered condolences to Katz’s family in a post on X and wished a speedy recovery to three other soldiers moderately wounded in the attack.
“Moshe z”l immigrated to the land from the United States, enlisted in the Paratroopers Brigade, and fought bravely for the defense of our homeland,” Netanyahu wrote. “On behalf of all Israeli citizens, we embrace Moshe z”l’s family in this difficult hour and wish a swift and complete recovery to our fighters who were wounded in that incident.”
On Sunday, Netanyahu announced that he had instructed the Israeli military to further expand its operations in Lebanon in order to “finally thwart the threat of invasion and to push the anti-tank missile fire away from our border.”
Menachem Geisinsky, a photographer and friend of Katz’s, also eulogized him in a post on Facebook, writing that he “forever will be my hero” for “his bravery in coming all the way from New Haven, Connecticut to fight for what he believed was right and also for being a man who wouldn’t tolerate a frown.”
“So be like Moshe. Be a hero. Make someone’s day. Make someone giggle or smile,” wrote Geisinsky. “Step up, and be the man Moshe was, and forever will be remembered as.”
Katz is survived by his parents, Mendy and Devorah Katz; siblings Adina, Yehuda, Shua and Dubi; and grandparents.
The post Israeli-American soldier Moshe Katz, killed in Lebanon rocket strike, laid to rest on Mt. Herzl appeared first on The Forward.
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A second poll of US Jews finds the same result: Most oppose the war in Iran
(JTA) — For the second time in a day, a nonpartisan poll has found that most American Jews oppose the U.S. military campaign against Iran — even as 90% of them say they oppose the Iranian regime.
The new poll, conducted by GBAO Strategies on behalf of the liberal pro-Israel lobby J Street, found that 60% of U.S. Jews say they oppose “the US military action against Iran.”
About the same proportion, 63%, said they believed “the most effective way to address U.S. and Israeli concerns about Iran’s nuclear program and destabilizing regional actions is through diplomacy and sanctions,” not military action.
And the majority of American Jews said they believed the war will not improve Israel’s security, with a third saying they believe the war will weaken Israel’s security.
As with the previous poll released earlier on Monday, the poll found a sharp partisan and denominational split in the results, with Republicans and Orthodox Jews more likely to support the war, which the United States and Israel jointly launched on Feb. 28.
A press release from J Street touted the survey as “the first methodologically sound poll of Jewish American opinion since the conflict began,” positioning the results as an antidote to findings from the Jewish People Policy Institute, which surveys “connected” U.S. Jews and has found that a majority of them support the war, even though the proportion has fallen since the war’s start.
“This data is a wake-up call for anyone claiming to speak for the American Jewish community while beating the drums of war,” J Street President Jeremy Ben-Ami said in a statement. “Most American Jews see this war for what it is: A reckless, unforced error by a President who has no clear, achievable goals or an exit strategy. This poll proves that the ‘pro-Israel’ position is the pro-peace position – and that means stopping this war before more lives are lost.”
The survey of 800 Jewish registered voters was conducted March 24 to 26 and has a margin of error of 3.5 percentage points.
The J Street survey also asked respondents about other issues related to Israel. It found that 70% of U.S. Jewish voters said they are more sympathetic to the Israelis than the Palestinians in the Israeli-Palestinian conflict, compared to multiple polls finding an even split or slight edge for the Palestinians among Americans overall.
It also found that 70% of American Jews oppose unconditional military and financial assistance to Israel — reflecting a mounting political consensus that is at odds with the priorities of AIPAC, the traditional pro-Israel lobby.
The post A second poll of US Jews finds the same result: Most oppose the war in Iran appeared first on The Forward.
