Amid rumors regarding the sale of the world’s largest centralized cryptocurrency exchange, Binance’s founder, Changpeng Zhao (CZ), has asserted that the platform is not for sale. Recent reports suggested that Binance was potentially being sold to a decentralized exchange (DEX) due to purported operational issues, but these claims have been strongly denied by Zhao and co-founder Yi He.

Binance’s Market Position

Binance continues to dominate the cryptocurrency market, outpacing competitors such as Coinbase and Bitget. The exchange onboarded over 50 million users in a six-month span last year, contributing to a total user base of over 250 million. In 2024 alone, the platform saw inflows exceeding $30 billion.

The Response to Rumors

The speculation began on February 17, with reports indicating that Binance was being sold due to alleged “operational malfunction.” Both Zhao and He quickly dismissed these rumors, clarifying that they regularly discuss potential investments with institutional investors but have no interest in selling the company. Zhao specifically pointed to the rumors as being spread by smaller competitors in Asia.

Notable Statements

“Some self-perceived competitor in Asia is trying to create false narratives about Binance being for sale. As a shareholder, Binance is not for sale. We’ve always had interest from investors. We may consider allowing minor investments over time.”
— Changpeng Zhao (CZ)

Zhao’s past commentary suggests that while he is open to potential minority investments, a complete sale is off the table. As Binance continues to navigate the challenges of the crypto exchange landscape, it reaffirms its commitment to maintaining its leadership position without sale intentions.