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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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Child Pregnancies Surge in Gaza Amid Reports of Hamas Fighters Demanding Sex From ‘Wives of Martyrs’ for Food
Hamas gunmen stand guard on the day that hostages held in Gaza since the deadly Oct. 7, 2023, attack, are handed over to the International Committee of the Red Cross (ICRC), as part of a ceasefire and hostages-prisoners swap deal between Hamas and Israel, in Khan Younis, southern Gaza Strip, Oct. 13, 2025. Photo: REUTERS/Ramadan Abed
The sexual depravity that Hamas proudly broadcast to the world during its Oct. 7, 2023, rampage across southern Israel has now show up in Gaza, with video testimonies emerging of pervasive abuse, coercion for food, and an increase in both child marriages and child pregnancies.
In a new bombshell report, the Daily Mail presented findings from both the United Nations Population Fund (UNFPA) into rising child marriages and an anonymous journalist at Jusoor News who filmed Gaza residents reporting on the exploitation of women.
According to the UNFPA, while pre-war numbers of child brides fell to 11 percent in 2022, a decrease from 26 percent in 2009, marriage records from 2025 showed that at least 400 girls between 14 and 16 had become wives. This number likely only counts a fraction of the total as many such religious ceremonies to theologically justify child abuse go unreported.
Nestor Owomuhangi, whose official title is “UNFPA Representative to Palestine,” explained that war and collapsing humanitarian conditions had exacerbated this regression.
“We are witnessing the dismantling of a generation’s future,” Owomuhangi said.
Multiple men told Jusoor News they had seen or heard of Hamas members abusing women, with one reporting that a Hamas charity organization had blackmailed his neighbor and sought to become her pimp. “They wanted her to whore herself in exchange for a food parcel, or an aid voucher, or 100 shekels,” he said.
Exchange rates on Monday placed 100 shekels as equal to $33.48.
A fighter in Hamas’s military wing, the Qassam Brigades, confirmed the sex crimes, saying that Hamas members took advantage of the “wives of martyrs” in a tent in the Gharabli area in Deir al-Balah. He was told to say nothing but chose to tear down the tent, declaring, “We told them it was an insult to our honor and dignity.”
Another anonymous man in Gaza said “we were contacted by the wife of a friend. She had asked a Qassam Brigades commander to help her, but he took advantage of her. His behavior is disgraceful. We investigated the matter and found her in a tent in the Gharabli area where a bunch of Qassam members were taking advantage of her.”
He also reported that “we informed the leadership, but we were told we had to keep silent about it.”
An unnamed woman said she had experienced sexual harassment from a man at a Hamas charity who appeared religious when she sought help. “I asked him how he could talk to me like that. And he should be ashamed,” she said. “I told him I would expose him. He said, ‘You cannot expose me; I am the government here.’”
One anonymous elderly woman said that “one charity in Gaza is unfortunately the biggest perpetrator. From its chairman all the way down to its doorman, it’s being done by all their employees and members, as though it’s an organization set up for sexual harassment, psychological abuse, and harassing young women.”
Reports of rising sexual abuse against girls and widows come as Hamas continues to resist pressure to disarm in accordance with the US-backed ceasefire and peace plan for Gaza.
On Sunday, the New York Times reported that two Hamas officials had said the Palestinian terrorist group planned to surrender thousands of automatic rifles and small weapons which belonged to Gaza police and other internal security organizations. However, this would not entail full disarmament, which according to the peace plan is a key prerequisite for beginning major reconstruction of Gaza and for Israel, whose military currently controls 53 percent of the enclave, to further withdraw its force.
According to several reports, Hamas recently rejected the Board of Peace’s eight-month phased plan for the terrorist group to disarm. US President Donald Trump proposed the Board of Peace in September to oversee his plan to end the Israel-Hamas war in Gaza, subsequently saying it would address other conflicts.
Meanwhile, Hamas is further tightening its grip on the nearly half of Gazan territory it still controls, where the vast majority of the population lives.
Since the initial ceasefire took effect in October, Hamas has imposed a brutal crackdown, sparking clashes with rival militias as it seeks to eliminate any opposition.
The Meir Amit Intelligence and Terrorism Information Center (ITIC) — an Israel-based research institute — released a report last month explaining how the US-Israeli war against the Islamic regime in Iran had disrupted the second phase of the ceasefire agreement in Gaza, which required Hamas to disarm in order for Israeli troops to withdraw.
Earlier this month, Hamas demanded that the Israel Defense Forces exit first before giving up weapons.
ITIC’s analysts warned that this delay could enable Hamas — which still controls approximately 47 percent of Gaza — to rearm. The Islamist terrorists are reportedly smuggling in guns from Egypt and creating weapons internally.
In late March, Turkey reaffirmed its longstanding support for Hamas when the terrorist group’s senior negotiator Khalil Al-Khaya and its political bureau delegation met with Turkish intelligence chief Ibrahim Kalın. Kalın had also met with senior Hamas leaders in Istanbul the previous week.
According to the Middle East Monitor, the Hamas delegation “expressed its appreciation to President Recep Tayyip Erdogan for Turkey’s efforts to achieve peace in Gaza.”
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Boy George Defends Eurovision Appearance Despite Israel Controversy, Expresses Solidarity With ‘Jewish Friends’
Boy George singing at The SSE Arena Wembley, Dec. 14, 2016. Photo: Wikimedia Commons.
British music legend Boy George said he will not turn his back on his Jewish friends in response to those criticizing his scheduled appearance at this year’s Eurovision Song Contest, amid controversy surrounding Israel’s participation in the annual competition.
“I played in Israel. I got a letter from [Pink Floyd co-founder] Roger Waters telling me not to go to Israel and I went, because I’ve got a lot of fans in Israel,” the 1980s music icon told Sky News. “Plus, in the UK, I have a lot of Jewish friends — and I know them to be beautiful, good, kind, smart, loving people. So expecting me to turn against my friends is a lunacy, and it’s not going to happen.”
He also told the Daily Mail on Sunday, outside the annual London Eurovision Party: “I have many, many Jewish friends that I’ve had since I was 15 or 16 years old. Are people asking me as a principled human being to turn my back on my Jewish friends? It’s not going to happen; it’s never going to happen.”
Boy George explained that from the start of his career, he has been wearing a Star of David. “Go back and look at pictures of Culture Club,” he added, referring to his band. “I am so affiliated with Jewish people. I am not necessarily affiliated with Israel. I don’t really have an opinion on that. But the job of music is to unite people.”
Boy George and Italian artist Senhit will represent San Marino in the Eurovision this year with their song “Superstar.” The competition will start next month and take place in Vienna, Austria. Boy George and more than 1,000 other members of the entertainment industry signed an open letter recently that expressed support for Israel’s participation in the 2026 Eurovision Song Contest.
Late last year, Ireland, Spain, the Netherlands, Iceland, and Slovenia announced they were pulling out of the 2026 Eurovision after its organizer, the European Broadcasting Union, approved Israel’s participation in the contest.
Boy George’s late mother was from Ireland. When asked how he feels participating in the Eurovision this year after Ireland withdrew from the competition, he replied: “Ireland is my mother’s home country. I hope they’re not too angry. But if they are, that’s out of my control.”
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Congress thinks my college is failing on antisemitism. My Jewish students disagree
When the House Education and Workforce Committee released its report on campus antisemitism last month, I learned about it from a news alert on my phone. That surprised me. The college at which I teach Jewish studies — Sarah Lawrence, a small liberal arts school in Bronxville, New York — is named in the report as one of five schools the committee investigated for failures to address antisemitism. Yet I never encountered anyone involved with this investigation.
I teach Jewish and non-Jewish students — bright, inquisitive young people eager to learn about Jewish history, Jewish thought and Jewish identity. I have worked with Jewish student groups. I am, professionally and personally, someone whose entire working life is oriented around Jewish life on this campus.
If this investigation was as thorough as Congress would have us believe, I probably should have heard about it at some point before it was released — or even, just possibly, been asked some questions as part of it.
That silence is not incidental. It is the heart of everything that is wrong with this report, which insists that Jewish students on campuses like mine are living under siege. The committee’s account of my institution was assembled without consulting, as far as I can tell, the faculty members best positioned to speak to Jewish life on campus or the range of Jewish students whose experiences directly contradict the report’s conclusions. What was assembled instead appears to be a file of curated incidents, selected to support a predetermined conclusion.
To be clear, antisemitism on campus is a serious problem. It takes forms both crude and subtle — casual conflations of Jewish identity with Israel, occasional slurs and social pressure on Jewish students to renounce affiliations or loyalties with Jewish groups seen as friendly to Israel. My own students have come to me with these issues, which are deeply troubling, and which campuses have yet to come up with clearly effective strategies for combatting.
But what the Education and Workforce Committee has produced is not a serious accounting of antisemitism. It is a political document dressed in the language of civil rights enforcement. It is yet more evidence that, when it comes to the federal government’s efforts against antisemitism, Jews are being spoken over, not spoken for.
Overlooked Jewish diversity
At Sarah Lawrence, I teach Jewish students who are passionate Zionists. I also teach Jewish students who are members of Jewish Voice for Peace, participate in pro-Palestinian organizing, and have complicated, evolving relationships to Israel shaped by family history, religious tradition and their own moral reasoning.
I teach students who grew up in Orthodox communities, students who grew up entirely secular, students for whom Jewishness is a daily religious practice and students for whom it is primarily an ancestral identity activated by encounters with bigotry. I teach Israeli students who came to Sarah Lawrence specifically because American higher education offered them an open intellectual environment that they value.
What these students seem to agree on — despite their many political differences — is that they do not recognize the picture of campus life being painted by this committee.
They broadly do not experience their Jewish identity as something requiring constant protection from their classmates. What many of them do experience, and what they have told me plainly, is profound discomfort at having their identity conscripted into political arguments they did not choose.
The committee’s report is such a conscription. It tells Jewish students what they are supposed to feel. It tells them who their enemies are. And it erases, wholesale, the significant portion of the Jewish campus community whose views on Israel, Palestinian rights, and the politics of campus speech do not fit the narrative the committee has advanced.
This is not how you protect Jewish students. This is how you exploit them.
The IHRA problem
The report specifically criticizes Sarah Lawrence for not adopting the IHRA definition of antisemitism, in a case study of this kind of overreach. As the single faculty member at Sarah Lawrence wholly committed to Jewish studies — making my scholarly expertise the most directly relevant to this question of anyone on my campus — I want to be unequivocal. The Jerusalem Declaration, which we have adopted instead of the IHRA definition, is the better tool.
The Jerusalem Declaration’s core definition of antisemitism — developed by an international group of scholars working in Holocaust history, Jewish studies, and Middle East studies — explains that antisemitism is discrimination, prejudice, hostility, or violence that targets Jews as Jews. It is accompanied by 15 detailed guidelines for understanding antisemitism, drawn up because the field recognized that context and nuance are not optional when identifying and addressing hatred.
This is how scholars in my discipline are trained to think, and it is the approach our students deserve.
The IHRA definition, by contrast, was drafted primarily as a data-collection instrument for European monitoring organizations. Kenneth Stern, the definition’s lead drafter, has said repeatedly that it was never intended to become part of disciplinary codes. He has even testified before Congress against legislation that would enshrine the IHRA definition as enforceable policy on campuses. Stern writes that the definition “was never intended to be weaponized to muzzle campus free speech.”
When the person who wrote the definition is sounding the alarm about how it is being used, perhaps Congress should listen.
The specific problem with the IHRA definition, as scholars in my field have documented extensively, is that seven of its 11 illustrative examples involve the state of Israel with language broad enough to characterize legitimate forms of political speech and academic inquiry about Israel as antisemitic.
I know from my own work that the chilling effect of IHRA on academic freedom is not theoretical.
One of the definition’s most contested illustrative examples declares that it may be antisemitic to draw comparisons between Israeli policy and the Nazis. I regularly teach the Israeli Orthodox scientist and philosopher Yeshayahu Leibowitz, one of the most important Jewish and Israeli thinkers of the 20th century, who warned persistently after the 1967 Six-Day War that the logic of military rule over another people would corrupt Israeli institutions and dehumanize both the occupied and the occupiers. He used the term “Judeo-Nazis” to describe what he feared that Israel risked becoming.
If Sarah Lawrence operated under the IHRA definition, my students would not have the opportunity to debate Leibowitz’s findings. Nevermind that he was eulogized by Israeli President Ezer Weizman as one of the greatest figures in the intellectual life of the Jewish people; his concern about his own country’s direction would make teaching him taboo, in turn making my students’ education in the full landscape of Jewish thought less complete.
I also couldn’t teach them about former Israeli Defense Minister Moshe Ya’alon’s 2026 claim that the ideology of Jewish supremacy now dominant in the Israeli government resembles Nazi racial theory. Or how Yair Golan, the former IDF deputy chief of staff and current leader of the Democrats party in the Knesset, has drawn parallels between trends in Israeli society and the processes that preceded the Holocaust in Europe.
These are Israeli patriots, soldiers, and statesmen engaging in exactly the kind of morally serious, historically grounded reckoning that higher education is supposed to teach students to undertake. Under the IHRA definition, my students would never have the chance to learn from them — or decide, for themselves, what they think about these arguments.
The committee’s report does not reckon with this kind of potential cost. Instead, it flatly recommends that every college across the United States adopt the IHRA definition. Conspicuously, it does not point to a single incident at any institution in its report that the IHRA definition would identify as antisemitic but the Jerusalem Declaration would not. If the committee believes IHRA is necessary rather than merely ideologically preferred, it should be able to demonstrate a gap — a real case in which alternate definitions of antisemitism failed.
The risks of chilling free speech
The absence of any such example is not a minor oversight. It speaks to the report’s failure to contend with the actual lived experience of students on campus.
In talking with students who have experienced antisemitism on my campus — American and Israeli alike — I have found they are not concerned by whether the school will adopt the IHRA definition.
They are not asking for less protection. They are asking for the right kind. What some of them have told me — and I take this seriously — is that they would find it chilling if political speech and classroom debate about Israel and Palestine were suddenly rendered even more risky.
The broader agenda behind this report is not difficult to see. Campus antisemitism is a genuine problem that has, since the Hamas attack of Oct. 7, 2023, been manipulated by the American right as part of a sustained effort to delegitimize universities.
Jewish students are not the constituency this campaign is designed to serve. They have been made instruments of a broader ideological battle against the liberal values that gain purchase when people are educated in environments that reward independent thought.
Honest intellectual engagement with Jewish experience means studying the history of persecution and survival; the philosophy of identity and belonging; the ethics of memory; and the complexity of diaspora and national identity. These are not safe or comfortable subjects. They require exactly the kind of open, contested, sometimes painful intellectual environment that the House Committee professes to be protecting while actually working to undermine.
Sarah Lawrence is not a perfect institution. No college or university is. But it is one where Jewish life is visible, valued and genuinely diverse. My Jewish students learn by arguing with each other, challenging each other, and engaging across lines of political disagreement. The truth about Jewish life is almost always more complicated than people with clear-cut political aims would have us believe. That complexity is not a problem to be managed or a weakness to be exploited. It is at the very center of what a liberal arts education is supposed to be about.
The post Congress thinks my college is failing on antisemitism. My Jewish students disagree appeared first on The Forward.
