The cryptocurrency world is abuzz with rumours that Binance, one of the largest crypto exchanges globally, might be up for sale. However, co-founders Changpeng Zhao (CZ) and Yi He have firmly refuted these claims, calling them misinformation spread by competitors. While the exchange remains open to strategic partnerships and mergers, the idea of a full sale has been dismissed as baseless.
Competitor Misinformation
On February 17, CZ took to X (formerly Twitter) to address the rumours directly. He accused “lowly self-perceived competitors in Asia” of spreading false claims about Binance being for sale. “As a shareholder, Binance is not for sale,” he stated emphatically. Earlier that day, Yi He also denied the rumours, attributing them to a public relations strategy by rivals. She suggested that competitors were attempting to divert attention from Binance’s market achievements, particularly as Bitcoin reached new highs.
Both co-founders clarified that while Binance is not for sale, the company remains open to strategic partnerships, mergers, and acquisitions. Yi He emphasised that the exchange regularly receives enquiries from institutions about potential investments. “We do not rule out the introduction of strategic partners and are open to mergers and acquisitions,” she said.
Speculation Follows Significant Asset Transfers
The rumors gained traction after reports of significant asset movements within Binance. On February 11, X user AB Kuai.Dong highlighted a notable reduction in the platform’s Bitcoin holdings. However, Binance quickly clarified that these changes were part of an internal treasury accounting adjustment, not asset sales.
CZ, who recently completed a four-month prison sentence for violating U.S. anti-money laundering laws, revealed in a Bloomberg interview that he had received offers to sell his controlling stake in Binance. While he did not disclose the identities of the interested parties, he confirmed that he had not acted on any offers.
Regulatory Challenges Continue to Loom
Despite the denials, Binance continues to face regulatory challenges. In France, authorities are investigating allegations of money laundering and tax fraud. The Paris Public Prosecutor’s Office is examining Binance’s activities between 2019 and 2024, including potential links to drug trafficking-related money laundering. Binance has denied all allegations.
In the United States, however, there appears to be some progress. On February 10, Binance and the U.S. Securities and Exchange Commission (SEC) filed a joint motion to pause their ongoing legal case for 60 days. The pause aims to allow the SEC’s Crypto Task Force to assist in resolving the case. A U.S. judge has since approved the request, signaling a potential shift in the legal landscape for Binance.
Binance’s Commitment to Compliance
Amid the rumours and regulatory scrutiny, Binance has emphasised its commitment to compliance. Yi He revealed that the exchange had conducted over 120 internal audits in collaboration with U.S. law enforcement agencies. As a result, 60 employees were fired for violating company policies. She also mentioned that at least two lawsuits and ongoing prosecutions are in progress, underscoring Binance’s efforts to maintain transparency and adhere to legal standards.
What’s Next for Binance?
While the rumours of a sale have been firmly denied, Binance’s openness to strategic partnerships and mergers suggests that the exchange is exploring ways to strengthen its position in the market. As the crypto industry continues to evolve, Binance remains a key player, navigating regulatory challenges and market speculation with resilience.
For now, the message from Binance’s leadership is clear: the exchange is not for sale. However, the possibility of future collaborations or investments remains on the table, keeping the crypto community watching closely.
