Iranians were able to access more than 1,500 Binance accounts last year, and $1.7 billion was transferred from two of them to terrorist proxies, The New York Times reported Monday.
Crypto
Terror groups receive $1.7b. from Iran through Binance | The Jerusalem Post
That was a potential violation of global sanctions, the report said, citing company records and documents collected by internal investigators.
The cryptocurrency exchange site reportedly fired or suspended at least four employees cited in the internal investigation. The company blamed “violations of company protocol” relating to its clients’ data, the Times reported.
The report came days after The Jerusalem Post spoke with experts from blockchain intelligence platform NOMINIS.io about how the Iranian regime was evading Western sanctions through cryptocurrencies.
The regime maintains a steady income using cryptocurrency through oil sales to Russia and China, NOMINIS CEO Snir Levi said at the time.
Regarding the latest scandal, he told the Post this week: “The latest allegations about Binance come months after the lawsuit by the victims’ families of October 7 – the ongoing Balva [versus] Binance case.
The majority of the allegations can be easily confirmed by on-chain data. There are thousands of cases where money has been sent and received to and from wallets that have clear connections to Iran.”
Binance founder Changpeng Zhao is being sued by the families of American victims and hostages of the October 7 massacre. He has been accused of knowingly enabling Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran’s Islamic Revolutionary Guard Corps to transfer more than $1b. through its platform, including more than $50 million after the October 7 massacre.
Zhao pleaded guilty to anti-money-laundering violations in connection with Binance in 2023. US President Donald Trump pardoned him last October.
“They say what he did was not even a crime,” Trump told reporters last October. “It wasn’t a crime. That he was persecuted by the Biden administration, and so I gave him a pardon at the request of a lot of very good people.”
Binance representative Rachel Conlan said the accounts linked to the $1.7b. in Iranian transactions have been removed and the relevant authorities were informed.
“Any suggestion that Binance knowingly allowed sanctionable activity to continue unchecked is incorrect and defamatory,” she said, despite Zhao’s earlier admission of anti-money-laundering violations.
More than half a dozen compliance officials have left Binance, including a sanctions manager and the leader of the enterprise compliance team, over the past few months, the Times reported.
“No investigator was dismissed for raising compliance concerns or for reporting potential sanctions issues,” Conlan said in a statement to The Guardian.
Democrat senator opens inquiry into cryptocurrency company
While Conlan insisted there was no wrongdoing, US Sen. Richard Blumenthal (D-Connecticut) opened an inquiry into Binance on Tuesday, seeking records of the company’s dealings in Hong Kong , where funds have previously been transferred in a network against sanctions.
“Binance appears to have ignored warnings and recommendations to prevent Iranian money-laundering schemes on its cryptocurrency exchange,” Blumenthal wrote in a letter to Binance co-chief executive Richard Teng.
“According to documents obtained by the Times and the Journal, Binance was even warned that Hexa Whale was financing terrorist organizations such as the Yemeni Houthis, and internal investigators found cryptocurrency transfers to wallets associated with Iran’s Islamic Revolutionary Guards Corps and payments to crew members of Russia’s sanctions-evading shadow fleet of oil tankers,” he wrote.
“Instead of actually preventing illicit use, Binance has sought to evade accountability and influence the White House through lobbying and a financial partnership with World Liberty Financial (WLFI), the cryptocurrency firm owned by the sons of President Trump and his special envoy Steve Witkoff… This influence campaign has worked: In May 2025, the Securities and Exchange Commission announced that it was dismissing a lawsuit against Binance for lying to regulators and mishandling funds, followed in October by the stunning Presidential pardon of founder Changpeng Zhao.”
“The scale of the newly revealed illicit transfers – uncaught until nearly $2 billion flowed to sanctioned entities – and the unexplained firing of internal investigators call into question Binance’s compliance with American sanctions and banking laws, and its 2023 agreement to resolve the previous federal investigation,” Blumenthal wrote.
Crypto
Senate Urged to Vote on CLARITY Act Before August Recess as Lawmakers Return July 13
Key Takeaways
- Supporters are warning that failure to schedule a CLARITY Act vote before the window closes could stall the bill for an extended period.
- Backers argue the legislation is critical to resolving oversight gaps, establishing registration pathways, and enforcing consumer protections and compliance standards.
- Analysts caution that without a scheduled Senate vote, procedural movement, or unified committee text, the bill faces growing legislative and political risk.
Limited July Schedule Raises Urgency for Floor Vote
Efforts to pass a federal crypto market-structure bill have entered a critical phase as the Senate remains in recess until July 13. The advocacy group Stand With Crypto on July 1 urged supporters to contact Senators and push for a floor vote on the Digital Asset Market Clarity Act, or CLARITY Act, before lawmakers leave for the August recess.
The timeline leaves a narrow window for action following months of committee work and industry lobbying. Supporters say the bill would reduce regulatory uncertainty by establishing clearer federal rules for digital asset issuers, trading platforms, developers, and market participants.
“The Senate is in recess. The clock on Clarity is running,” Stand With Crypto noted on X, adding:
“The window before the August recess is short, and when Senators return on July 13, they can vote on the Clarity Act to end years of regulatory guesswork. Don’t let the window close. Call your Senators to schedule a vote on Clarity.”
The legislation advanced in June when the Senate Banking Committee approved H.R. 3633 in a bipartisan 15-9 vote. The bill outlines agency oversight, registration pathways for crypto firms, consumer protections, and compliance standards across digital asset markets.
Lawmakers return to Washington on July 13 after the Independence Day recess, leaving Congress with just eight legislative business days before the planned August recess. The compressed schedule gives lawmakers limited time to consider the CLARITY Act alongside annual defense and government funding legislation.
Industry Groups Increase Pressure on Senate Leadership
Industry advocacy has intensified as the legislative calendar tightens ahead of the 2026 midterm elections. More than 200 organizations, including Coinbase, Ripple, Kraken, Circle, Binance.US, Uniswap Labs, Paradigm, Andreessen Horowitz, and Stand With Crypto chapters, have urged Senate leaders to bring the bill to the floor.
Mason Lynaugh, policy director at Stand With Crypto, said:
“There’s a limited window to get this done, with few remaining days left in the current Congress before the midterm elections. If Senate leaders don’t schedule a CLARITY Act vote in the coming weeks, an enormous amount of bipartisan work, compromise, and progress, could be wasted.”
Ripple has also promoted the effort in Washington, D.C., including a branded CLARITY truck near Capitol Hill to raise visibility as lawmakers consider crypto legislation.
Stand With Crypto cited polling showing nearly three-quarters of surveyed crypto owners in Senate battleground states are more likely to support candidates who favor clearer cryptocurrency rules. The group also reported that more than one-third of respondents use digital assets for personal transfers, while 21% use them for monthly expenses.
Despite the momentum, analysts remain cautious. Galaxy Research lowered its 2026 passage estimate for the CLARITY Act to 50-50 from 60%, citing the absence of a scheduled Senate floor vote, no motion to proceed, and no unified text between Senate committees.
Crypto
Trump denies conflict of interest over crypto. And, Vatican excommunicates rebel group
Good morning. You’re reading the Up First newsletter. Subscribe here to get it delivered to your inbox, and listen to the Up First podcast for all the news you need to start your day.
Today’s top stories
President Trump’s financial disclosures reveal that he and his family earned more than $1 billion through cryptocurrency ventures and other businesses last year, according to a 927-page report filed with the Office of Government Ethics. The report shows that more than $500 million came from the cryptocurrency venture “World Liberty Financial,” which was co-founded by Trump family members. The sale of souvenir “meme” coins featuring Trump’s image generated more than $600 million. Other income included more than $50 million from settlements with media companies and millions in profits from Trump-branded products like Bibles, sneakers and watches. These earnings, which have outpaced his real estate business, have sparked concerns about potential conflicts of interest. The White House released a statement denying any conflicts of interest, and spokesperson Anna Kelly applauded Trump for making the U.S. “the crypto capital of the world.”
President Trump walks to board Air Force One as he departs Bismarck Municipal Airport on July 1, 2026, in Bismarck, North Dakota. Trump traveled to North Dakota to attend the Theodore Roosevelt Presidential Library dedication.
Andrew Harnik/Getty Images
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Andrew Harnik/Getty Images
- 🎧 Democrats have had a lot to say regarding the president’s earnings, NPR’s Linda Kenyon tells Up First. Sen. Adam Schiff of California suggested Trump has earned more money in the first year of his current term than in the rest of his life combined. Rep. Jason Crow of Colorado referred to the president’s cryptocurrency earnings as another example of what he described as “grift and corruption.” Crow also highlighted that the president took his first flight yesterday on a brand-new Air Force One, a gift from a foreign government valued at roughly $400 million.
The Vatican this morning formalized the excommunications of the bishops and priests of the conservative group known as the Society of St. Pius X, declaring that it has entered schism and broken communion with the pope and the Catholic Church. The group, known as SSPX, celebrates the traditional Latin Mass and opposes some modern church reforms. In the Catholic Church, the appointment of new bishops is the responsibility of the pope. But yesterday, the group defied Pope Leo XIV by consecrating four bishops without his approval. The Society framed its actions as a defense of Catholic tradition. During the ceremony, the Rev. Davide Pagliarani, head of the Society of St. Pius X, described the consecrations as an act of service rather than rebellion. Two of the excommunicated men teach in the U.S., where the group’s membership has been growing, according to the society.
A little over a week has passed since rare double earthquakes struck Venezuela. Thousands of people are feared dead as the official death toll continues to rise and hope diminishes for finding survivors in the rubble. Yesterday, the number of people killed by the quakes reached 2,295, and more than 11,200 people were injured, said Jorge Rodríguez, the president of Venezuela’s National Assembly. Tens of thousands of people remain unaccounted for. The number of people left homeless could be staggering. An analysis of satellite data by Corey Scher and Jamon Van Den Hoek from Oregon State University estimated that 58,870 buildings were likely damaged or destroyed by the earthquakes. The U.N.’s International Organization for Migration has reported that up to 6.8 million people could be affected by the disaster, needing shelter, water, sanitation, healthcare and other relief items. Here are the most significant developments since the tragedy occurred.
The U.S. men’s national team defeated Bosnia-Herzegovina 2-0, marking its first FIFA World Cup knockout round victory since 2002. With this win, the U.S. advances to the Round of 16, where it will face Belgium on July 6. The team will have to play without U.S. forward Folarin Balogun, who will be suspended after receiving a red card for a cleat-first challenge on Bosnian defender Tarik Muharemović. Balogun has scored three goals in three World Cup matches, including the first goal of yesterday’s game. Balogun is currently the top goalscorer for the U.S. team in the 2026 World Cup.
- 🎧 NPR’s Becky Sullivan says it’s hard to know how the U.S. will fare against Belgium next week. The Belgian team easily beat the U.S. 5-2 in a friendly back in March, but Sullivan says Belgium also looks like one of the most beatable “good teams” in the tournament so far. So the U.S. has a good chance, even without Balogun. A win would bring the American men to the quarterfinals, the furthest they’ve ever advanced in a modern World Cup.
Life advice
Got a fridge full of half-eaten food like this rotisserie chicken and not sure what to do with it? Chefs share creative cooking tricks and storage techniques to motivate you to use it all up.
Pulse/Getty Images/Corbis RF Stills
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Pulse/Getty Images/Corbis RF Stills
Don’t let your leftovers go to waste. According to the nonprofit ReFED, about a quarter of all food products are wasted nationally. Life Kit spoke with chefs who shared clever storage techniques and cooking tips to help you make the most of your food scraps.
- 🍽️ Start with a mindset shift. Consider cooking with leftovers as a creative and experimental exercise rather than a guilt-driven one.
- 🍽️ Develop a collection of flexible, go-to recipes that can use up a variety of ingredients. For example, if you have leftover rice, you can cook it with other ingredients, such as rotisserie chicken and older vegetables, to make fried rice.
- 🍽️ Save yourself the guessing game of wondering what is in your fridge by labeling and dating your leftovers.
- 🍽️ Never throw away herb stems, as they still have the same herby flavor as the leaves. If you blend them with a clove of garlic and olive oil, you can create a base sauce. You can do the same thing with vegetables like broccoli to make soups.
For additional guidance on creative ways to use your leftover odds and ends, listen to this episode of NPR’s Life Kit. Subscribe to the Life Kit newsletter for expert advice on love, money, relationships and more.
Picture show
Garland Jones, recreational therapist and senior program director of the YMCA of South Florida’s special needs program, teaches Mackenzie Wesley, 5, to breathe safely in water by using a ping pong ball as a visual aid.
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LA Johnson/NPR
Children with autism are 160 times more likely to die from drowning compared to their peers, according to a 2017 study from Columbia University. This is largely because about half of autistic children have a tendency to wander away from safe environments. That fact, combined with an attraction to water, can be very dangerous. High-quality swim lessons can be a vital preventative measure to combat this issue. Florida, which has one of the highest childhood drowning rates in the nation, expanded a voucher program this month that puts children ages 1-7 who have autism at the front of the line for subsidized swim lessons. The YMCA of South Florida’s low-cost Swim Buddies program is one of the largest programs specifically designed for children with disabilities in the area. One of its key features is its focus on individualization and one-on-one instruction, rather than traditional group lessons. Staff members assess each child’s needs and tailor the lessons accordingly. Take a look at how this program is helping children with autism.
3 things to know before you go
Photo Illustration of the new Wegovy 1.5 mg and 4 mg semaglutide tablets with injectable prescription weight loss pens on a white background. Its a prescription medicine used with a reduced calorie diet and physical activity. (Photo by: Michael Siluk/UCG/Universal Images Group via Getty Images)
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Universal Images Group/Getty Images
- A Medicare pilot program for GLP-1 drugs launched yesterday, allowing beneficiaries to get a weight loss prescription for $50 a month.
- Kroger is set to acquire the Pittsburgh-based Giant Eagle grocery store chain for $1.65 billion. (via WESA)
- Dozens of states might be responsible for millions of dollars next year to help feed low-income families through the federal Supplemental Nutrition Assistance Program (SNAP). Under the One Big Beautiful Bill Act, states with error rates of 6% or higher will be required to cover 5%, 10% or 15% of SNAP benefits in the coming years. (via KCUR)
This newsletter was edited by Suzanne Nuyen.
Crypto
Robert Kiyosaki Says Spiritual Mission Led Him to Financial Education
Key Takeaways
- Robert Kiyosaki says a guru’s advice pushed him to question whether making money was his real mission.
- He says teaching financial education became his purpose despite failing in school and hating school.
- His unanswered challenge to readers is direct: “What is your spirit’s mission?”
The Question That Changed Robert Kiyosaki’s Path
Robert Kiyosaki, author of the best-selling personal finance book Rich Dad Poor Dad, said the turning point began years ago while listening to an Indian guru. The guru told him, “Your body’s mission is to fulfill your spirit’s mission,” Kiyosaki wrote on X on July 1. He added that the sentence forced him to examine whether his work matched a deeper purpose.
“His words shook me. At the time my body was busy making money,” Kiyosaki said. That conflict became the central issue in his reflection: whether financial success alone could define a life’s work.
Why Teaching Became the Mission
Kiyosaki said the answer took years to understand. “It finally came to me that my spirit’s mission was to teach what my body was to do was to be a teacher… which was the last thing I thought I would ever become… just because I failed in school and hated school.”
He said the realization prompted him to leave manufacturing more than 50 years ago and begin teaching lessons he learned from his “rich dad,” shifting his career from manufacturing to financial education. Instead of focusing on producing goods, he redirected his energy toward sharing financial principles he believed were missing from traditional education.
The acclaimed author said he was ridiculed for years for teaching ideas such as “Savers are losers” and “Debt can make you rich.” Despite the criticism, he said he continued teaching because he believed traditional schools failed to educate people about money.
“My life changed.”
What Question Does Kiyosaki Leave Open
Kiyosaki said one way to find purpose is to ask, “What does my heart want to do to serve humanity?” He said he began teaching for free before the work became commercial.
“That free education turned into a multimillion-dollar business and expanded throughout the world,” he wrote. He closes by encouraging readers to reflect on their own purpose, asking:
“What is your spirit’s mission?”
Beyond discussing purpose, Kiyosaki’s recent posts have continued to focus on economic risks. He has warned of a possible market downturn, advocated owning assets such as gold, silver, bitcoin, and ethereum, and said he is waiting for lower prices before making additional purchases.
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