Binance Co-Founder Refutes Speculation on Sale, Attributes Misinformation to Competitors

Binance co-founder Yi He has refuted speculation regarding the potential acquisition of the cryptocurrency exchange, labeling the assertions as a calculated distraction orchestrated by competitors.

The theory gained momentum following a viral post that suggested Binance was considering a sale.

“The information from a couple of months ago was accurate—Binance is indeed going to be sold,” a screenshot shared by crypto commentator Cloak M stated. “Eventually, it will belong to DEX, and Binance has already lost its ability to maintain an upward trajectory (largely due to regulatory issues).”

The post did not disclose the identity of the alleged buyer of Binance.

Yi He Refutes Sale Speculation

In a response on X, Yi He dismissed the rumors, asserting that Binance’s business model remains robust.

She condemned the dissemination of false information, accusing competitors of employing crisis public relations tactics to divert attention from their own challenges.

She further clarified that Binance is consistently approached by institutional investors interested in potential partnerships and investments.

While she did not dismiss the possibility of bringing in strategic partners or acquiring other exchanges, she stressed that Binance is not for sale.

“If there are other trading platforms with sale intentions, please feel free to reach out to us,” she stated.

所以友商的危机公关策略就是批量买稿造币安的谣转移注意力？
自比特币价格突破新高，交易平台作为生态验证成立的商业模型，按照投资的头部原则，每个月都会有机构来问币安是否接受投资和合作，我们不排除引入战略合作伙伴，也开放并购，如果有其他交易平台有出售计划欢迎联系。

— Yi He (@heyibinance) February 17, 2025

Rumors of a Binance sale arise as the exchange has liquidated over 24 million XRP from its corporate holdings as part of a broader selloff that included 94.1% of its Bitcoin (BTC), nearly all of its Ethereum (ETH) and USDT, and 99% of its Solana (SOL) since January 2025, amounting to over $8 billion.

Despite the significant reductions, Binance’s BNB holdings only decreased by 16.6%, and user reserves increased by $4 billion, with the exchange assuring that customer balances remain unaffected.

The latest Proof of Reserve (PoR) report indicated that Binance’s XRP holdings fell from 115 million to 90.4 million tokens while maintaining a reserve ratio of 103.29% to ensure fund security.

In addition to the XRP sale, Binance sold billions in BTC, ETH, SOL, and USDT but increased its USDC holdings, indicating asset conversions rather than complete liquidations.

The specific reasons behind the sales remain unclear, although Binance’s customer support attributed them to a treasury accounting adjustment rather than direct market sales.

Binance shouldn’t be selling assets. This was merely an adjustment in the Binance treasury’s accounting process. User funds are SAFU, as always.

— Binance Customer Support (@BinanceHelpDesk) February 11, 2025

Binance Maintains Market Dominance in 2024

Binance upheld its status as the leading crypto exchange in 2024, capturing nearly 40% of the total market with $7.35 trillion in trading volume. Bybit followed in second place with a 9.3% share.

Crypto.com experienced the highest growth among exchanges, with trading volume surging 970% from $120.6 billion in 2023 to $1.29 trillion in 2024.

Bybit and Gate.io also witnessed significant growth, with increases of 398% and 242%, respectively.

In another development, the U.S. Securities and Exchange Commission (SEC) and Binance filed a joint motion on February 10, 2025, to pause their legal proceedings for 60 days.

The “60-Day Pause” motion was submitted to the U.S. District Court for the District of Columbia, with both parties citing the SEC’s recently established crypto task force as a key factor in their decision.

The post Binance Co-Founder Dismisses Sale Rumors, Blames Rivals for Misinformation appeared first on Cryptonews.