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A flurry of activity unfolded on social media as Changpeng Zhao, CEO and founder of Binance, addressed rumors about the potential sale of the cryptocurrency exchange.
Zhao, also known as CZ, firmly denied claims that Binance was selling off assets. His response came amid speculation suggesting the exchange might be for sale, which he dismissed as falsehoods spread by what he described as "some lowly self-perceived competitor in Asia."
Zhao, who has recently completed a prison sentence in the United States, clarified the situation surrounding Binance. While he denied that the company is selling off parts of its operations, he did not rule out the possibility of Binance taking on minority shareholders in the future. "Top investors have always been interested in Binance," Zhao commented. "Over time, we may allow some investments in the single-digit percentage range."
The Binance co-founder, Yi He, also joined the conversation on social media, indicating that the company often receives inquiries from potential investors. He additionally hinted that Binance might be considering mergers and acquisitions, suggesting a strategic openness to expanding its business through such deals.
Changpeng Zhao's involvement in the investment sphere has been reinforced following his release, as he has taken an "active role" at YZi Labs, once known as Binance Labs.
This move signals his continued commitment to the industry and the company he established, which remains the largest cryptocurrency exchange in the world by trading volume.
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