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
had been a part of a PR technique by a competitor and instructed that Binance would
quite 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 mentioned on Feb. 17 on X. “As a
shareholder, Binance just isn’t on the market.”
4. Some lowly self-perceived competitor in Asia fudding about Binance (CEX) on the market.😂As a shareholder, Binance just isn’t on the market.Prime buyers have at all times been fascinated about Binance. Over time, we might 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 big discount within the
alternate’s holdings, together with Bitcoin. Binance has denied that the adjustments
had been linked to asset gross sales, stating that they had 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 offered 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 Presents for Binance Shares
Zhao not too long ago accomplished a four-month jail sentence after
pleading responsible to violating US Anti-Cash Laundering legal guidelines. Following his
exit, Richard Teng grew to become CEO and has centered on regulatory compliance as
Binance faces authorized challenges.
Zhao informed Bloomberg in a current interview that he
has obtained provides to promote his controlling stake in Binance. He didn’t,
nonetheless, disclose the identities of these fascinated about buying shares of
the alternate.
“I’m not saying that I’m going to carry onto the fairness
perpetually or not,” Zhao mentioned in his first interview after his launch. “I’m blissful
to evaluation each supply, however to this point I haven’t performed something. I’m only a common
shareholder at this level.”
Zhao holds a 90% stake in Binance, which he based in 2017.
His web value is estimated at $61 billion.
This text was written by Tareq Sikder at www.financemagnates.com.