Changpeng Zhao and Yi He, co-founders of the world’s largest crypto exchange, Binance, have dismissed rumors of a potential sale. Their recent statement reaffirms commitment to the platform’s long-term vision despite regulatory hurdles and leadership changes.
Yi He Denies Binance Sale
The rumors gained He’s attention when a user on X (formerly Twitter) questioned whether Binance was planning to sell. The user posted an image that suggested the exchange was struggling to maintain its upward trajectory due to regulatory challenges and Western skepticism toward an Eastern-led exchange.
The Binance executive responded directly to the claims, dismissing them as misinformation spread by competitors to divert attention from their issues. She further clarified that the platform frequently receives investment and partnership inquiries but has no plans to sell. She said:
“Since the price of Bitcoin hit a new high … Every month, there will be institutions asking Binance whether it accepts investment and cooperation. If there are other trading platforms with sales plans, please feel free to contact us.”
Notably, the reply aligns with CZ’s tweet addressing the rumors a few hours later. He clarified that the exchange may consider allowing investments from top investors in the “single-digit percentage range in the future.”
Binance Acquires Other Crypto Platforms
The statement from Yi He, where she said, “If any other exchanges are looking to sell, they are welcome to reach out,” is not without weight. Since its inception in 2017, Binance has aggressively expanded its ecosystem through acquisitions, strengthening its dominance in the crypto industry.
One of its most notable purchases was CoinMarketCap in 2020, which was acquired for an estimated $400 million. This gave Binance control over the most visited crypto aggregator website. The exchange also acquired Trust Wallet in 2018, integrating it into its ecosystem to provide users with a decentralized, non-custodial crypto wallet.
Other crypto exchanges have also followed this trend. Last month, Coinbase, one of the largest exchanges in the U.S., expanded its European presence by acquiring the Cyprus-based division of BUX, a Dutch brokerage firm. Kraken also purchased Coin Meester, another Netherlands-based crypto broker.
Meanwhile, following CZ’s departure from Binance amid a $4.3 billion settlement with U.S. authorities over compliance violations, Binance has been under close watch. The exchange’s new CEO, Richard Teng, has been steering the exchange through legal reforms and adjustments.
