Marketplace Morning Report Hamas victims sue Binance
Nov 25, 2025
Join Nick Marsh, a BBC business correspondent based in Singapore, as he delves into the shocking lawsuit against Binance and its founder, Changpeng Zhao. Victims of the October 2023 attack in Israel accuse the cryptocurrency giant of facilitating over $1 billion for groups like Hamas. The discussion includes allegations surrounding Zhao's previous money-laundering plea, the potential outcomes of the lawsuit, and Binance's claims of compliance with sanctions. Marsh also touches on geopolitical implications and the wider financial landscape.
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Binance Accused Of Enabling Terror Funding
- Victims and relatives of the October 7 attacks are suing Binance and Changpeng Zhao for allegedly enabling Hamas, Hezbollah and Iran's Revolutionary Guard to move over $1 billion.
- The plaintiffs claim Binance funneled another $50 million to Hamas after Zhao's guilty plea, seeking large damages.
Pardon Clouds Questions About Enforcement
- Changpeng Zhao previously pleaded guilty to money laundering and served four months in jail before receiving a presidential pardon from Donald Trump.
- Binance maintains it complies with international sanctions while remaining the world's largest crypto platform handling billions in transactions.
Political Links Amplify Scrutiny
- The Trump pardon raised questions because of reported business ties between Zhao's companies and firms linked to Donald Trump's sons and wider crypto investments.
- Critics note the tension between Trump's strong pro-Israel stance and pardoning someone accused of enabling Hamas funding.