- Rumors that Binance, the world’s largest cryptocurrency exchange by trading volume, is for sale are unfounded.
- This clarification comes from recent comments by Binance co-founder Changpeng Zhao, known as “CZ.”
Binance “is not for sale”
Changpeng Zhao, the former CEO of Binance who now leads YZi Labs, said speculation about the exchange being sold stemmed from fears voiced by “a competitor who perceives itself as a weak rival in Asia.”
“As a shareholder, Binance is not for sale,” CZ posted on X on Monday, February 17. His remarks echoed comments from Binance co-founder Yi He, who also dismissed the circulating claims as originating from a competitor.
He noted that Binance regularly receives investment and partnership inquiries from across the industry. Yi He, Binance co-founder and head of customer service, said the company could not rule out strategic partners in the future.
Yi added that Binance remains open to mergers and acquisitions as part of its broader corporate strategy.
“Top-tier investors have always expressed interest in Binance. Over time, we might permit certain investments in the low single-digit percentage range,” Zhao said.
CZ’s statements follow notable market speculation about a potential sale of the major centralized exchange. Zhao stepped down as CEO of Binance in 2023.
He served a four-month prison sentence as part of a plea agreement with U.S. authorities, under which the exchange agreed to a $4.3 billion settlement.
Binance also continues to face legal challenges from the U.S. Securities and Exchange Commission (SEC). In the wake of the recent rumors, Binance’s native token BNB — which had surged last week — gave up some of its gains.
Still, with CZ—who remains a shareholder—reinforcing Yi He’s comments, the token could see renewed upward momentum. BNB currently trades around $673, roughly flat over the past 24 hours and up about 10% over the last week.