Binance Co-Founder and former CEO Changpeng Zhao has denied
rumors that the cryptocurrency alternate is on the market.
Co-founder Yi He additionally addressed the rumors. She claimed they
have been a part of a PR technique by a competitor and advised that Binance would
relatively purchase exchanges than promote, Cointelegraph reported.
Sale Hypothesis Follows Binance Asset Strikes
“Some lowly self-perceived competitor in Asia fudding
about Binance (CEX) on the market,” Zhao stated on Feb. 17 on X. “As a
shareholder, Binance isn’t on the market.”
4. Some lowly self-perceived competitor in Asia fudding about Binance (CEX) on the market.😂As a shareholder, Binance isn’t on the market.Prime traders have all the time been enthusiastic about Binance. Over time, we could enable some investments within the single-digit share vary.🤷♂️
— CZ 🔶 BNB (@cz_binance) February 17, 2025
The hypothesis adopted actions of Binance’s belongings. On
Feb. 11, X consumer AB Kuai.Dong highlighted a major discount within the
alternate’s holdings, together with Bitcoin. Binance has denied that the modifications
have been linked to asset gross sales, stating that they have been “merely an adjustment
within the Binance treasury’s accounting course of.”
BINANCE AND CZ DISMISS SALE RUMORS- Former Binance CEO Changpeng ‘CZ’ Zhao and co-founder Yi He have denied circulating rumors that @Binance is being bought to a different firm.- They assert that these rumors are false and originate from opponents making an attempt to divert market… pic.twitter.com/za5jS6KC3w
— BSCN (@BSCNews) February 17, 2025
Zhao Receives Provides for Binance Shares
Zhao lately accomplished a four-month jail sentence after
pleading responsible to violating US Anti-Cash Laundering legal guidelines. Following his
exit, Richard Teng turned CEO and has targeted on regulatory compliance as
Binance faces authorized challenges.
Zhao advised Bloomberg in a latest interview that he
has obtained affords to promote his controlling stake in Binance. He didn’t,
nevertheless, disclose the identities of these enthusiastic about buying shares of
the alternate.
“I’m not saying that I’m going to carry onto the fairness
perpetually or not,” Zhao stated in his first interview after his launch. “I’m glad
to assessment each supply, however to date I haven’t executed something. I’m only a common
shareholder at this level.”
Zhao holds a 90% stake in Binance, which he based in 2017.
His internet value is estimated at $61 billion.
This text was written by Tareq Sikder at www.financemagnates.com.
