YEREVAN (CoinChapter.com) — Changpeng Zhao (CZ), Binance’s co-founder, denied hypothesis that the cryptocurrency alternate is up on the market. The assertion adopted on-line discussions about Binance asset transfers and potential investor curiosity in buying a stake within the firm.

On Feb. 17, Zhao addressed the claims on X, stating,

“Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale. As a shareholder, Binance is not for sale.”

Earlier the identical day, co-founder Yi He additionally refuted the rumors. She described them as a public relations tactic utilized by rivals to shift market focus. Yi confirmed that Binance stays open to mergers, acquisitions, and strategic partnerships however shouldn’t be promoting the alternate.

Binance Asset Transfers Elevate Questions

Hypothesis about Binance’s standing elevated after stories of enormous asset actions on the alternate. On Feb. 11, X consumer AB Kuai.Dong identified a major drop in Binance’s Bitcoin holdings, fueling questions on a doable sale.

Binance later addressed the problem, explaining that the transfers had been inside treasury accounting changes somewhat than asset liquidation. The corporate denied any connection between these actions and an possession change.

Though CZ dismissed sale rumors, he acknowledged in a Bloomberg interview after his four-month jail sentence that he had obtained affords for his controlling stake. He didn’t title the patrons and stated that he had not acted on any proposals.

Regulatory Challenges in France and the U.S.

Binance is dealing with regulatory investigations in a number of jurisdictions. In France, authorities are analyzing the alternate’s actions for potential cash laundering and tax violations.

In keeping with a Reuters report, the Paris Public Prosecutor’s Workplace is investigating Binance’s operations between 2019 and 2024. The inquiry focuses on whether or not the alternate had hyperlinks to cash laundering networks tied to drug trafficking. Binance has denied all allegations.

In the US, Binance’s authorized scenario modified on Feb. 10 when the alternate and the U.S. Securities and Trade Fee (SEC) filed a joint movement to pause their ongoing authorized case for 60 days.

Notably, each events said {that a} lately fashioned crypto process pressure might affect the case. A U.S. court docket authorized the movement, quickly halting proceedings. The choice represents a shift in Binance’s regulatory dealings within the nation.