Binance Co-Founder and former CEO Changpeng Zhao has denied rumors that the cryptocurrency exchange is for sale.

Co-founder Yi He also addressed the rumors. She claimed they were part of a PR strategy by a competitor and suggested that Binance would rather acquire exchanges than sell, Cointelegraph reported.

Sale Speculation Follows Binance Asset Moves

"Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale," Zhao said on Feb. 17 on X. "As a shareholder, Binance is not for sale."

4. Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale.😂

As a shareholder, Binance is not for sale.

Top investors have always been interested in Binance. Over time, we may allow some investments in the single-digit percentage range.🤷‍♂️

— CZ 🔶 BNB (@cz_binance) February 17, 2025

The speculation followed movements of Binance’s assets. On Feb. 11, X user AB Kuai.Dong highlighted a significant reduction in the exchange’s holdings, including Bitcoin. Binance has denied that the changes were linked to asset sales, stating that they were "simply an adjustment in the Binance treasury’s accounting process."

Zhao recently completed a four-month prison sentence after pleading guilty to violating US Anti-Money Laundering laws. Following his exit, Richard Teng became CEO and has focused on regulatory compliance as Binance faces legal challenges.