Zhao Denies Binance Sale amid Asset Strikes and Calls It a "Treasury Adjustment"

Binance Co-Founder and former CEO Changpeng Zhao has denied
rumors that the cryptocurrency change 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 advised that Binance would
relatively 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 shouldn’t be on the market.”

4. Some lowly self-perceived competitor in Asia fudding about Binance (CEX) on the market.As a shareholder, Binance shouldn’t be on the market.High buyers have at all times been concerned about Binance. Over time, we could permit some investments within the single-digit proportion 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 major discount within the
change’s holdings, together with Bitcoin. Binance has denied that the modifications
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 bought to a different firm.- They assert that these rumors are false and originate from rivals trying to divert market… pic.twitter.com/za5jS6KC3w

— BSCN (@BSCNews) February 17, 2025

Zhao Receives Presents for Binance Shares

Zhao lately accomplished a four-month jail sentence after
pleading responsible to violating US Anti-Money Laundering legal guidelines. Following his
exit, Richard Teng turned CEO and has centered on regulatory compliance as
Binance faces authorized challenges.

Zhao instructed Bloomberg in a latest interview that he
has received offers to sell his controlling stake in Binance. He didn’t,
nonetheless, disclose the identities of these concerned about buying shares of
the change.

“I’m not saying that I’m going to carry onto the fairness
ceaselessly or not,” Zhao mentioned in his first interview after his launch. “I’m blissful
to overview each supply, however to this point I haven’t carried out 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.

Source link –