Changpeng Zhao claims the rumor was started by a competitor of the cryptocurrency exchange
Binance co-founder Changpeng Zhao has dismissed speculation that the cryptocurrency exchange is up for sale. The former CEO addressed the rumors on social media, labeling them as misinformation spread by a competitor. He stated that as a shareholder, Binance is not for sale and suggested that the claims were an attempt to create uncertainty about the platform.
4. Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale.😂
As a shareholder, Binance is not for sale.
Top investors have always been interested in Binance. Over time, we may allow some investments in the single-digit percentage range.🤷♂️
— CZ 🔶 BNB (@cz_binance) February 17, 2025
Co-founder Yi He also pushed back against the rumors, suggesting they were part of a public relations move by a rival exchange. Instead of selling, she indicated that Binance remains interested in acquiring other platforms, inviting any exchange considering a sale to reach out.
The speculation emerged after reports surfaced regarding significant shifts in Binance’s asset holdings. A user on social media pointed out a sharp drop in Bitcoin holdings, leading some to question whether the company was offloading assets in preparation for a sale. Binance denied any connection, explaining that the changes were part of an internal treasury adjustment rather than a sign of financial trouble.
Binance frequently faces scrutiny from regulators and industry observers. The company has been under pressure following legal issues involving Zhao, who recently completed a prison sentence in the US for violations of anti-money laundering regulations. His successor, Richard Teng, has emphasized Binance’s commitment to compliance as it continues to address legal challenges.
Authorities in France have launched an investigation into Binance over alleged money laundering and tax fraud, probing the exchange’s activities over a five-year period. Binance has denied any wrongdoing. Meanwhile, in the US, the exchange and the Securities and Exchange Commission have agreed to temporarily pause legal proceedings, signaling potential progress in their case.
