Binance Co-Founder Confirms Company Is Not for Sale Amid Speculation
Changpeng Zhao (CZ), co-founder and former CEO of Binance, has refuted rumors about the exchange being for sale, stating it is not up for sale. The speculation originated from a competitor in Asia.
- Binance valued at approximately $9.2 billion.
- Recent asset movements misinterpreted as signs of financial distress were clarified as accounting adjustments.
- Co-founder Yi He suggested rumors aimed to distract from Binance’s performance; interest from institutions for investment remains high.
- CZ acknowledged receiving buyout offers for his stake but stated he hasn't acted on them yet.
- Binance retains the title of the world’s largest crypto exchange, with over 250 million registered users and net inflows of $21.6 billion in 2024.
- Regulatory challenges persist, including an ongoing investigation by French authorities over alleged money laundering and tax fraud.
Binance continues to cooperate with regulators while maintaining its market position amidst these challenges.