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Binance co-founder and chief customer service officer Yi He also said Binance isn’t for sale and implied it’s open to buying out its rivals.
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Binance co-founder and former CEO Changpeng Zhao denied rumors that the cryptocurrency exchange is up for sale.
“Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale,” Zhao said on Feb. 17 on X. “As a shareholder, Binance is not for sale.”
Source: Changpeng Zhao
Co-founder Yi He made a similar comment earlier in the day. She said that the rumors of the exchange’s sale originated from the PR strategy of a competitor and implied that Binance would prefer to buy by asking that exchanges reach out if they’re considering selling.
The rumors followed some major movements of Binance assets. X user AB Kuai.Dong on Feb. 11 flagged a sharp reduction in Binance’s asset holdings, including Bitcoin (BTC), prompting speculation about the company’s financial position.
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Binance has denied that the movements were related to the sale of assets and said they were “simply an adjustment in the Binance treasury’s accounting process.”
Binance remains under the microscope
Binance is the world’s largest cryptocurrency exchange by trading volume, a position that brings constant scrutiny from regulators and market analysts.
Zhao recently completed a four-month prison sentence after pleading guilty to violating US Anti-Money Laundering laws. Following his departure, Richard Teng assumed the role of CEO, prioritizing regulatory compliance as Binance navigates ongoing legal challenges.
The latest of Binance’s regulatory battles is unfolding in France, where authorities have reportedly launched an investigation into the exchange over allegations of money laundering and tax fraud. The Paris Public Prosecutor’s Office is examining Binance’s activities between 2019 and 2024, probing its ties to money laundering linked to drug trafficking. Binance has denied all allegations.
In the US, Binance’s legal outlook may be improving.
On Feb. 10, the US Securities and Exchange Commission (SEC) and Binance filed a joint motion to pause their legal case for 60 days, a request that was granted.
At the end of the stay, the SEC and Binance will submit a joint report assessing whether an extension is warranted or if legal proceedings should resume.
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This article first appeared at Cointelegraph.com News
