Changpeng Zhao, co-founder and former CEO of Binance, has dismissed speculation that the cryptocurrency exchange is up for sale.
“Some self-proclaimed competitor in Asia spreading FUD about Binance (CEX) being for sale,” Zhao stated on X on Feb. 17. “As a shareholder, Binance is not for sale.”
Binance co-founder Yi He echoed his remarks, suggesting the rumors were part of a competitor’s PR strategy. She further implied that Binance would be more interested in acquisitions, encouraging exchanges considering a sale to get in touch.
The speculation gained traction after notable asset movements from Binance. On Feb. 11, X user AB Kuai.Dong highlighted a significant drop in Binance’s asset holdings, including Bitcoin, sparking concerns about the company’s financial stability.
Binance, however, refuted claims that these movements indicated a sale of assets, stating that they were merely part of an internal treasury adjustment.
Binance remains under regulatory scrutiny
As the largest cryptocurrency exchange by trading volume, Binance frequently faces regulatory and market scrutiny.
Zhao recently completed a four-month prison term after admitting to violating U.S. anti-money laundering laws. Since his departure, Richard Teng has taken over as CEO, with a strong focus on regulatory compliance as Binance navigates ongoing legal challenges.
One of its latest regulatory battles is unfolding in France, where authorities are investigating Binance for alleged money laundering and tax fraud. The Paris Public Prosecutor’s Office is reviewing Binance’s operations from 2019 to 2024, probing potential links to illicit activities. Binance has denied all allegations.
Meanwhile, Binance’s legal situation in the U.S. may be improving.
On Feb. 10, Binance and the U.S. Securities and Exchange Commission (SEC) filed a joint motion to pause their case for 60 days, which was approved.
At the end of this period, Binance and the SEC will determine whether an extension is necessary or if legal proceedings should continue.
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