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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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Mamdani calls AIPAC ‘monsters’ in rally ahead of NY primaries
(JTA) — New York City Mayor Zohran Mamdani on Thursday night accused the American Israel Public Affairs Committee of spending “millions in dark money” to ensure pro-Israel candidates win seats in tthe November midterms.
Mamdani made his remarks at a rally headlined by Sen. Bernie Sanders (I-VT) at Kings Theater in Brooklyn ahead of Tuesday’s Democratic primaries for progressive congressional candidates. He called on the crowd to help elect Jewish former New York City Comptroller Brad Lander, State Assembly member Claire Valdez and former Columbia encampment organizer Darializa Avila Chevalier.
In a fiery 30-minute speech, Mamdani took aim not just at AIPAC but also Israeli Prime Minister Benjamin Netanyahu and his handling of the war in Gaza. He claimed that “The monsters that we are up against, they take many different forms,” and then singled out AIPAC.
He described the major pro-Israel lobby as an organization “for whom the only thing more frightening than democracy being allowed to run its course is an end to genocide and Netanyahu’s wars.”
Mamdani continued by alleging that AIPAC moves “millions in dark money to accomplish a single goal, to preserve their power so that they can turn us against one another instead of our leaders turning towards the moral change we all know to be necessary.”
AIPAC did not respond to a request for comment about Mamdani’s remarks.
The lobby, whose endorsement was once heavily sought by politicians on both sides of the aisle, has increasingly come under fire for its campaign tactics. Pro-Israel Democrats are particularly struggling to hold onto seats as voters on the left increasingly turn against the Jewish state.
Sanders, for his part, doubled down on criticism of AIPAC when he took the stage. “The American people understand that a large part of our horrific foreign policy is impacted by AIPAC funding,” he said.
Turning to the local races, Mamdani voiced support for Valdez for her opposition to Israel. “When other Democrats chose to look the other way as Netanyahu committed war crimes, Claire didn’t just name the genocide,” he said. “She organized for a ceasefire.”
In a change of tone, Mamdani emphasized unity, including an appeal to Jewish voters.
“Whether you worship at shul, at a mosque, in a church, a gurdwara, a temple, or you don’t worship at all, we share a belief that our city deserves leaders who lead with hope and not fear,” the mayor said.
He added, “No matter where we live, how old we are, what train we take in the morning, or what bagel we order, we are New Yorkers and we want the same things,” including “a city that belongs to all of us.”
Reaction on social media was swift. One self-described mom from New York City posted on X of the rally and the Democratic Socialists of America there: “It’s pretty transparent and vile how Zohran Mamdani and the DSA are using ‘AIPAC’ as a euphemism for Jews, and how Brad Lander is going right along with it.”
Jewish writer Dovi Safier also criticized the comments, writing, “The mayor of the city with the world’s largest Jewish population is pushing conspiracy theories about ‘money men’ who ‘move millions in dark money’ to ‘turn us against one another’ — and calling them ‘monsters.’ Subtle.”
This article originally appeared on JTA.org.
The post Mamdani calls AIPAC ‘monsters’ in rally ahead of NY primaries appeared first on The Forward.
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Jewish groups push back against Trump’s Iran deal — but more quietly so far than in 2015
(JTA) — A growing number of Jewish groups are pushing back against the new memorandum of understanding brokered between President Donald Trump and Iran.
At least for now, however, their responses are more muted than when the same groups publicly opposed former President Barack Obama’s own Iran deal in 2015. And at least one major Jewish group that opposed Obama’s deal is backing Trump’s framework.
“Trust President Trump,” the Republican Jewish Coalition told its followers Thursday, becoming the most notable Jewish group to support Trump’s memorandum of understanding.
“President Trump has earned the trust of the Jewish community as he and his team work towards a final agreement,” RJC CEO Matt Brooks and chair Norm Coleman said in a statement. They praised the MOU, saying it “envisions a horizon of economic stability for the United States, the region, and the world,” and that it “provides an opportunity for potential new pathways to greater peace.”
The RJC cautioned that “a final deal must avoid the flaws that doomed Obama’s,” specifying that there should be “no sunset clauses” on Iran’s nuclear program and other proposals. In the days before its own statement, the group had been reposting praise of the MOU from other Trump allies, including Sen. Lindsey Graham.
Meanwhile, the American Jewish Committee and the pro-Israel lobbying giant AIPAC took a different tack. They became the largest Jewish organizations to voice concern with the new Iran deal on Thursday, issuing public objections following requests for comment from the Jewish Telegraphic Agency.
The MOU “raises significant questions,” AIPAC said in a lengthy statement that urged Congress to intervene ahead of “a final nuclear agreement,” claiming that the terms of the MOU don’t match “President Trump’s stated objectives for the war.”
The AJC outlined what it said were seven “concerns” it had with the MOU. Like most of the other Jewish groups that responded to JTA for this story, the AJC also expressed hope that the terms of the deal could be changed to be stricter on Iran and more favorable to Israel before it is finalized. (In 2015, in response to Obama’s Joint Comprehensive Plan of Action, the AJC said it “overwhelmingly” would “oppose this deal.”)
Trump’s MOU is not a final agreement, unlike Obama’s JCPOA. Rather, it marks the start of a 60-day negotiating period that aims to end the Iran war about to enter its fourth month. It does not yet outline any clear commitments regarding Iran’s nuclear program, which had been at the heart of the JCPOA and which is of particular concern to Jewish groups, who are roundly opposed to Iran obtaining a nuclear weapon in large part because of the risk to Israel. Many had objected to Obama’s deal in part because of its “sunset clauses” that would have phased out nuclear restrictions starting at the 10-year mark.
Regardless, many analysts across the political spectrum are concluding that Trump’s framework is a worse deal than Obama’s, in part because it provides a pathway for Iran to stage an economic recovery.
The Israeli government, which sent Prime Minister Benjamin Netanyahu to personally lobby Congress in 2015 to oppose Obama’s deal, is also strongly opposed to Trump’s — in part because it would require Israel to withdraw from fighting Hezbollah in southern Lebanon. A new poll by Israel’s Channel 12 found that 71% of Israelis don’t trust Trump to look out for their country’s interests in negotiations with Iran.
Hawkish pro-Israel think tanks, including the Foundation for Defense of Democracies and the Jewish Institute for National Security of America, issued papers knocking Trump’s deal.
“In some ways, the MOU is even weaker than President Barack Obama’s,” JINSA said. “This new deal authorizes the transfer of far more money and lifts many more sanctions on Iran than the JCPOA ever did.”
Trump and his top surrogates, including Vice President JD Vance, are increasingly signaling a lack of patience with Israel and a willingness to prioritize ending the war over stopping Iran’s nuclear program.
Some groups are waiting before weighing in. Nathan Diament, head of the Orthodox Union, declared Obama’s deal “not kosher” in 2015. On Thursday, he told JTA that the question of how to respond to Trump’s deal “will be a central topic of discussion” at the group’s leadership advocacy mission in Washington, D.C., taking place early next week. O.U. representatives are scheduled to meet with members of the Trump administration, as well as members of Congress.
JTA reached out Thursday to a wide range of Jewish groups that publicly opposed Obama’s Iran deal in 2015 to ask them their views on Trump’s. Many others, including the Anti-Defamation League and the Conservative movement’s Rabbinical Assembly, did not respond by press time.
Of those who did, only Morton Klein, head of the right-wing Zionist Organization of America, castigated the MOU outright. Klein told JTA he was “extremely upset with this deal” — and with Trump.
“I find this deal just astonishing,” Klein said. “Helping out a country that Trump himself said, if they’d gotten nukes, they’d have used them on Israel and killed millions of Jews? So that mentality, now you’re helping them rebuild?”
He added, “Trump has done many wonderful things for Israel, so we’ve praised Trump for that. But now he’s doing something very bad for Israel and America.”
Such level of forceful public opposition to the deal, though, is rare in Jewish circles at present — especially in contrast with the extent of Jewish mobilization against Obama’s deal in 2015.
Back then, in addition to the usual Jewish advocacy groups, dozens of local Jewish federations across the country pushed their communities and representatives to fight it, in a sweeping and sustained show of opposition.
“This Iran deal threatens the mission of our Federation as we exist to assure the continuity of the Jewish people, support a secure State of Israel, care for Jews in need here and abroad and mobilize on issues of concern,” one typical statement, from the Jewish Federation of Greater Los Angeles, read at the time.
Three years later, during Trump’s first term, he tore up the JCPOA, calling it “a horrible one-sided deal that should have never, ever been made.”
The lack of similar opposition today for Trump’s deal, Klein said, was glaring: “Nobody is taking issue with this agreement in the Jewish world.”
Among local Jewish groups, the initial reaction to Trump’s MOU has struck a measured tone. The Jewish Community Relations Council of Greater Washington, one of dozens of local Jewish communal groups that publicly opposed the 2015 JCPOA, told JTA it was “concerned” that Trump’s deal “has granted Iran a new leverage point to use in the future to inflict pain on the world’s economy.”
Ron Halber, the JCRC’s head, blasted the MOU for being crafted without Israel’s input, and for requiring Israel to withdraw from its offensive against Hezbollah in Lebanon. Similar to AIPAC, Halber said his organization would continue to push for “a final U.S.-Iran agreement” that is more favorable to Israel and takes harsher measures against Iran.
In its statement, the Jewish Federation of Greater Philadelphia, which also opposed the JCPOA, did not directly weigh in on the new MOU. Instead, the federation said, “Any agreement involving the Iranian regime should be judged by its ability to prevent a nuclear-armed Iran,” among other factors.
JTA reached out to six other major Jewish federations that opposed the 2015 JCPOA, including Combined Jewish Philanthropies of Greater Boston, which was the first federation to oppose that deal and whose leader wrote, in 2021, “We were right.”
CJP of Boston did not respond to a request for comment. The Jewish United Fund of Chicago declined to comment, while several other federations that opposed the JCPOA — including Los Angeles, Miami, Phoenix and Detroit — did not respond by press time.
In its own statement opposing the MOU, AIPAC did not outline an advocacy plan to combat it, in contrast to its full-court press against the JCPOA. An AIPAC spokesperson did not return a JTA request for comment on whether, or how, it planned to advocate against Trump’s MOU.
This article originally appeared on JTA.org.
The post Jewish groups push back against Trump’s Iran deal — but more quietly so far than in 2015 appeared first on The Forward.
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Who is Gadi Eisenkot, the Israeli politician who could dethrone Netanyahu?
Until recently, former Prime Minister Naftali Bennett appeared to be the opposition figure best positioned to challenge Benjamin Netanyahu in Israel’s election this fall. But a new contender has emerged: Gadi Eisenkot, a former Israel Defense Forces chief of staff, whose newly formed Yashar! (“Straight!”) party is rapidly gaining popularity.
According to Israel’s public broadcaster KAN, Eisenkot’s party currently projects to win 21 Knesset seats, trailing Netanyahu’s Likud at 23. Bennett and Yair Lapid’s joint slate, Together, the duo that managed to win the 2021 elections, is polling at 17 seats. Several other major Israeli polls reflect a similar or even stronger position for Eisenkot. As of this writing, Eisenkot and Netanyahu are neck and neck on Polymarket as the most likely politician to become the next prime minister.
Amid Trump’s Iran deal, which left Netanyahu in the lurch and has been widely unpopular among Israelis, Netanyahu’s appeal as a prime minister who can ensure Israel’s security is beginning to slip. Only 11% of Israelis feel Israel won the war, and 52% feel Netanyahu’s conduct harmed Israel’s interests in the U.S.-Iran deal. A recent Channel 12 survey found that 58% of Israelis believe the country’s next prime minister should not be Netanyahu.
After Bennett and Lapid joined forces to run together this April, their popularity has been steadily decreasing. Since they announced their joint run, Eisenkot has been gaining roughly one seat per week in Israeli polling.
This reflects an important theme in Israeli politics: combining politicians does not necessarily combine their voters. Bennett, a right-wing Orthodox nationalist who has long opposed a Palestinian state, appeals to a different constituency than Lapid, a secular centrist who has expressed support for a two-state solution.
Some right-wing voters who have supported Bennett now may view him as too left-leaning for their tastes because of his alliance with Lapid. For Bennett, who was seen as someone who could take right-wing voters from Netanyahu, this is a real problem.
Enter Eisenkot: a security-focused centrist with an untraditional background. He grew up in Eilat as the son of Moroccan immigrants. If elected, he would be the first ever Mizrahi Prime Minister in Israeli history.
He did not serve in Sayeret Matkal, the elite special reconnaissance unit in the IDF that cultivated many future Israeli politicians, including Bennett and Netanyahu. Rather, he got his start in Golani, the IDF’s oldest unit. He slowly climbed through the ranks, spending his career within the security establishment before eventually becoming the chief of staff of the IDF in 2015.
His political career is relatively new. Eisenkot entered politics in 2022 as part of Benny Gantz’s National Unity party before breaking away to launch Yashar! in 2025. His time in politics, though short, has been free of scandal or feuds — beyond, of course, his frequent disagreements with Netanyahu.
Service for all
For many Israelis, Eisenkot’s public image is inseparable from personal loss. His son, Gal, was killed fighting in Gaza in 2023, and two of his nephews also died during the war. Their deaths have given Eisenkot a unique standing in a country where military service has profoundly affected many Israeli families in the last few years, especially following the Oct. 7 attacks.
This experience also resonates amid one of the most contentious debates in Israeli politics: whether ultra-Orthodox yeshiva students should continue receiving exemptions from military service. As reservists have been called up repeatedly since Oct. 7 and the IDF has faced manpower shortages, many Israelis have argued that the burden of military service is being shared unequally. Roughly 80,000 men aged 18 to 24 who are currently exempt are eligible to serve in the IDF.
According to the Israel Democracy Institute, only 9% of the Israeli public supports exempting the ultra-Orthodox from mandatory military service. Netanyahu’s coalition, which depends on ultra-Orthodox parties, has sought to preserve some form of exemption system.
Eisenkot not only faced profound personal sacrifice for his family’s military service, but he also runs on the platform “service for all,” which hopes to reform broad military exemptions for the ultra-Orthodox.
In May 2025, he shared his thoughts for the first time on a two-state solution, telling Channel 12, “I always speak in favor of a Jewish, democratic, strong, and powerful state, and from that, we should derive our decisions. I think a Palestinian state is not relevant after October 7.” He added, “We need to be very measured, build it from the bottom up, and certainly not talk about a state and a prize after this murderous event,” he said, referring to the Oct. 7 attacks. “Instead, we should make our considerations from a position of strength, take our time, and not decide from one moment to the next, certainly not talk about it now.”
One of the most visible criticisms of Eisenkot has been his lack of command of the English language. Eisenkot speaks English, though certainly not to the level of fluent proficiency of MIT-educated Benjamin Netanyahu or Naftali Bennett. Last week, a top Netanyahu aide, Jonatan Urich, posted a viral video on X splicing clips of Einsenkot speaking heavily accented English with Nethayahu’s major speeches at the UN and Congress.
Eisenkot responded to the video on a popular Israeli podcast, stating, “Where was Netanyahu’s excellent English on October 7?” he asked. “Where is his excellent English in strengthening the relationship between Israel and the United States, which this morning is at rock bottom?”
While Eisenkot’s party continues to soar in the polls, he has a long way to go before he will be able to dethrone Netanyahu, who has won six Israeli elections since 1996.
Israel’s next prime minister will not simply be the person who secures the most votes for their party. To govern, a coalition must command at least 61 of the Knesset’s 120 seats. To do this, political parties – though often ideologically different – must come together in the hopes of securing a majority number of seats in the Knesset.
Eisenkot’s principal rival for leadership of the anti-Netanyahu camp is Bennett. Still, both Bennett and Eisenkot have emphasized that their primary goal is to take down Netanyahu. When asked whether he would step aside for Eisenkot if that were necessary to form a government, Bennett replied: “I will do anything in the world to replace this very bad government. I will not let ego be a factor.”
The post Who is Gadi Eisenkot, the Israeli politician who could dethrone Netanyahu? appeared first on The Forward.

