Binance “not for sale”

The former Binance CEO, and currently at the helm of YZi Labs, said speculation that the exchange was headed for sale are a result of FUD from “some lowly self-perceived competitor in Asia.”

“As a shareholder, Binance is not for sale,” CZ posted on X on Monday, Feb. 17. 

The remarks echo those of co-founder Yi He, who has also dismissed the circulating claims as started by a competitor. He added that as a company, Binance continually receives investment and cooperation requests from players across the industry.

Yi, a co-founder of Binance and chief customer service, said the company cannot rule out potential strategic partners. Binance is open to mergers and acquisitions, she noted.

“Top investors have always been interested in Binance. Over time, we may allow some investments in the single-digit percentage range,” Zhao added.

CZ’s comments follow notable speculation regarding the potential sale of the top CEX platform.

Zhao himself stepped down as Binance CEO in 2023. He served a four-month prison sentence after a plea deal with US authorities, that saw the exchange agree a $4.3 billion settlement. The exchange is also still in a legal tussle with the SEC.

Afte the latest rumours, the native BNB token that surged in the past week pared gains. However, with CZ, who is a shareholder at the company, adding to comments by He, price could see an upside.

BNB price hovers around $673, flat in the past 24 hours and about 10% up over the past week.

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Binance is not for sale: CZ

Source: https://coinjournal.net/news/binance-is-not-for-sale-cz/