A Reuters investigation found that Iran’s largest crypto exchange, Nobitex, relied heavily on two major blockchain networks, Tron and $BNB Chain, to move billions of dollars.
Since 2023, Nobitex has processed at least $2.3 billion through the two blockchains, according to blockchain data reviewed by Reuters. Tron was founded by crypto billionaire Justin Sun, while $BNB Chain originated from Binance, the exchange created by Changpeng Zhao.
Both Sun and Binance later came out as important backers of World Liberty Financial, the Trump family’s flagship crypto venture. According to Reuters, there is no evidence Trump or his relatives knew Nobitex was using those systems.
The situation nevertheless creates a striking contradiction. While the US government confronts Iran and maintains sanctions against Iranian institutions, blockchain networks connected to Trump’s business allies have continued to facilitate crypto flows tied to Iran’s financial system.
Nobitex has become a major tool for sanctions evasion in Iran. The exchange has allegedly handled transactions involving Iran’s central bank and the Islamic Revolutionary Guard Corps, both under Western sanctions.
Analysts estimated more than $2 billion of Nobitex activity passed through Tron and another $317 million through $BNB Chain. Experts believe the real total could be much larger because the exchange frequently changes wallet addresses to avoid detection.
The companies involved defended themselves by arguing that blockchains are decentralized public infrastructure. Tron said it could not police every transaction but cooperated with law enforcement.
Binance and $BNB Chain said the blockchain operates independently from the exchange itself. World Liberty said it has no operational relationship with either Nobitex or Tron.