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Binance denies sale rumours
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Amid the storm of rumors about the sale, Binance has voiced claims that the information is completely false, while criticizing rivals for deliberately destabilizing the market.
Binance, the world's largest cryptocurrency exchange by trading volume, is facing a wave of rumors about being put up for sale. However, the company was quick to speak out about this information.
On social network X, Binance co-founder He Yi dismissed rumors that the exchange was up for sale.
She insisted that Binance's business model remained strong and criticized the spread of misinformation, arguing that rivals were using crisis PR strategies to distract attention from their own problems.
He Yi also said Binance has always received interest from institutional investors who are looking for cooperation and investment opportunities. While not ruling out the possibility of partnering with strategic partners or acquiring other exchanges, she stressed that Binance is not for sale.
If there are any other exchanges planning to sell, please feel free to contact us.
Changpeng Zhao, co-founder and former CEO of Binance, also denied rumors of a sale of the exchange. On his personal page, Zhao wrote: “Some self-described competitors in Asia are spreading false rumors about Binance (CEX) being put up for sale. As a shareholder, I affirm that Binance is not for sale.”
Rumors of Binance being put up for sale came after some Twitter users discovered massive volatility in Binance's holdings, including Bitcoin. This has raised speculation about the company's financial situation and the possibility that Binance is struggling.
However, Binance has denied that these fluctuations are related to asset sales. The company said it was “simply an adjustment in Binance's treasury accounting process.”
As the world's largest cryptocurrency exchange, Binance has always been the focus of attention of market regulators and analysts. The company is facing numerous legal challenges in many countries, including the US and France.
Zhao recently completed a four-month prison sentence after pleading guilty to violating the U.S. Anti-Money Laundering Act. Following his departure, Richard Teng took over as CEO, prioritizing compliance as Binance was addressing ongoing legal challenges.
Binance is under investigation in France over allegations of money laundering and tax fraud. The Paris Prosecutor's Office is looking into Binance's activities between 2019 and 2024, investigating the exchange's links to money laundering related to drug trafficking. Binance has denied all allegations.
In the US, Binance's legal prospects may be improving. On February 10, the U.S. Securities and Exchange Commission (SEC) and Binance filed a joint motion to suspend their legal action for 60 days, a request that was approved.
At the end of the pause period, the SEC and Binance will file a joint report assessing whether an extension is needed or whether legal proceedings should be continued.
