Key Notes

Key Notes:

Despite denying sale rumors, CZ revealed he has received offers and is open to reviewing potential buyout proposals for his stake in Binance.Binance demonstrates continued growth with over 250 million registered users and net inflows of $21.6 billion from user deposits in 2024 alone.The exchange faces ongoing regulatory challenges, including a recent French investigation into allegations of money laundering and tax fraud between 2019-2024.

Changpeng Zhao (CZ), the co-founder and former CEO of Binance, has addressed recent rumours suggesting that the cryptocurrency exchange, valued at approximately $9.2 billion, according to PitchBook is up for sale.

In a social media post on X, Zhao who stepped down from Binance last year, disclosed that the company is not for sale. He also claimed that the speculation arose from a competitor in Asia.

4. Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale.😂

As a shareholder, Binance is not for sale.

Top investors have always been interested in Binance. Over time, we may allow some investments in the single-digit percentage range.🤷‍♂️

— CZ 🔶 BNB (@cz_binance) February 17, 2025

The so-called sale rumour started circulating on X last week after AB Kuai.Dong, told his followers that Binance had reduced its asset holdings which includes Bitcoin (BTC) and other cryptocurrencies on February 11.

This observation led to conjecture about the company’s financial health and potential sale. However, Binance clarified that these asset movements were merely “an adjustment in the Binance treasury’s accounting process,” dismissing any notions of liquidation or sale.

Co-founder Yi He also weighed in on the matter, suggesting that the rumors were part of a competitor’s public relations strategy to divert attention. She emphasized that since Bitcoin’s price reached new highs, numerous institutions have inquired about investing in or collaborating with Binance.

She further noted that while Binance remains open to strategic partnerships and acquisitions, the company is also open to potential acquisitions, with Yi He inviting other exchanges considering a sale to initiate discussions.

Despite refuting rumours of potential Binance sale, CZ had earlier disclosed in an interview with Bloomberg that he has received offers from individuals and companies seeking to buyout his stake on Binance. He clarified at the time that at some point he would consider selling the shares.

“I’m not saying that I’m going to hold onto the equity forever or not. I’m happy to review every offer, but so far I haven’t done anything. I’m just a regular shareholder at this point,” he told Bloomberg.

Binance is currently the world’s largest crypto exchange in the industry. As of the end of 2024, Binance had over 250 million registered users, adding approximately 50 million in just six months of Richard Teng’s leadership.

Coinspeaker previously reported that the platform also saw net inflows of $21.6 billion from user deposits in 2024, leading the centralized exchange market. These figures highlight Binance’s continued dominance and the growing global adoption of digital assets.

Despite its successes, Binance has faced regulatory challenges. In November 2023, CZ stepped down as CEO and served a four-month prison sentence after pleading guilty to violating the US Anti-Money Laundering laws.

Following his departure, Teng assumed the role of CEO, focusing on enhancing regulatory compliance and steering the company through ongoing legal matters.

More recently, French authorities have initiated an investigation into Binance over allegations of money laundering and tax fraud. The Paris Public Prosecutor’s Office is examining the exchange’s activities between 2019 and 2024, particularly its connections to money laundering associated with drug trafficking.

Binance, however, has denied these allegations and continues to cooperate with regulatory bodies to resolve the issues.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.

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