CZ and Yi He respond to ‘Binance being sold’ rumors

Former Binance CEO Changpeng ‘CZ’ Zhao and co-founder Yi He denies circulating rumors that Binance will be sold to another company, stating that they were made up by competitors.

In a recent post, Yi addressed rumors in the crypto community that a cryptocurrency exchange was negotiating a sale to buy Binance.

She said that those rumors are untrue and are simply “public relations strategy of our competitors” who pay news outlets to write baseless rumors about Binance to divert market attention, especially after Bitcoin (BTC) hit a new high.

“Following the principle of leading investment, every month there will be institutions asking Binance whether it accepts investment and cooperation. We do not rule out the introduction of strategic partners and are open to mergers and acquisitions,” Yi clarified in her post.

Shortly after Yi’s post, CZ weighed into the conversation, saying that some small-scale competitors in Asia were making a fuss about Binance going on sale, when in fact “Binance is not for sale”

On the other hand, Yi also used the opportunity to state that Binance is open to mergers and acquisitions of other trading platforms who wish to sell their firms.

In the article excerpt shared by one of the users, though the source is unclear, it is stated that Binance is going to be sold to a decentralized crypto exchange as it claims the exchange “cannot maintain its upward trend.” However, traders on X are still unable to deduce which DEX the article refers to.

“If there are other trading platforms with sales plans, please feel free to contact us,” Yi added.

On Feb. 11, U.S. Judge Amy Berman Jackson of the District of Columbia approved a joint motion for a 60-day pause filed by the SEC, Binance and former CEO Changpeng “CZ” Zhao. According to the documents filed in court, the SEC’s Crypto Task Force could aid “the potential resolution of this case.”

Earlier this month, Yi He said that the crypto exchange has conducted over 120 internal audit investigations with U.S. law coordinators which have resulted in 60 employees getting fired for violating company policies. The Binance co-founder revealed that there are at least two ongoing lawsuits and prosecutions.