CZ and Yi He Deny Rumors of Binance for Sale
Former CEO Changpeng Zhao (CZ) and co-founder Yi He have denied rumors of Binance being sold, claiming that the exchange is still going strong and ready to expand.
As reported, on February 11, 2025, the crypto community was abuzz with the massive decline in Binance's assets, "losing" $8 billion compared to the reserve data published in early 2025.
(@_FORAB) after reporting a sharp decline of more than 90% of the assets on Binance. At the same time, some unconfirmed sources also said that Binance was about to "become" the hands of a DEX exchange, citing the reason that "the exchange cannot continue its growth trend".
By the afternoon of February 17, this rumor reappeared along with information that the leading crypto exchange Binance was dumping a series of assets it held, including Bitcoin (BTC), to prepare for the transfer of shares to a new owner!
However, former Binance CEO Changpeng Zhao (CZ) and co-founder Yi He denied this rumor. CZ affirmed that "Binance is not for sale," and criticized this rumor as a FUD tactic from an Asian competitor.
At the same time, the Binance co-founder also revealed that the exchange still receives investment and cooperation offers every month, not excluding the possibility of introducing strategic partners or participating in M&A deals if appropriate.
Explaining the sharp decline in assets held, the exchange's support team affirmed that "Binance is not selling assets. This is just an internal adjustment in the exchange's treasury audit process. User funds are still SAFU."
Binance is the world's largest cryptocurrency exchange by trading volume, a position that is always closely monitored by regulators and market analysts.
Legally, Binance is still facing many challenges. The lawsuit between Binance and the SEC was temporarily suspended for 60 days according to the court's decision, creating an opportunity for the parties to find a solution.
Previously in June 2023, the SEC filed a lawsuit against Binance and its CEO Changpeng Zhao for allegedly acting as an unlicensed securities broker and trading service provider. The lawsuit also listed a long list of cryptocurrencies that the SEC considered securities, with many coins in the top 30 capitalizations on the crypto market.
Binance reached a settlement agreement with the US Department of Justice and the Commodity Futures Trading Commission (CFTC) in November 2023 to end the investigation by these two units. Accordingly, the exchange agreed to pay a record fine of $ 4.3 billion, as well as forcing Mr. CZ to resign as CEO of Binance and serve a 4-month prison sentence for negligence in management, allowing money laundering to occur on the exchange.
