Binance Co-Founder Slams Sale Rumors, Points to Competitor Misinformation

Binance’s Market Position Remains Strong Despite Speculation

Binance co-founder Yi He has dismissed growing speculation that the exchange is being sold, calling it a deliberate misinformation campaign orchestrated by competitors. The rumors intensified after a widely circulated post suggested Binance had lost its ability to sustain growth due to regulatory challenges and was preparing to transition into a decentralized exchange (DEX). Crypto commentator Cloak M shared a screenshot claiming Binance had already committed to a sale, though the post did not specify a buyer.

Yi He responded on X, calling the rumors baseless and accusing industry rivals of spreading false narratives to divert attention from their own issues. She reaffirmed Binance’s strong business model and clarified that while institutional investors frequently explore potential partnerships, the exchange itself is not for sale. 

She went further, inviting other platforms considering a sale to approach Binance instead. The firm’s stance remains unchanged—Binance is open to strategic partnerships and acquisitions but has no plans to offload its operations.

The controversy comes as Binance’s corporate treasury has significantly reshuffled its holdings, selling over $8 billion worth of crypto assets since January 2025. The exchange liquidated 94.1% of its Bitcoin (BTC), nearly all of its Ethereum (ETH) and USDT, and 99% of its Solana (SOL). 

Despite the massive selloff, Binance’s BNB holdings only dropped by 16.6%, and user reserves increased by $4 billion, reinforcing its commitment to protecting customer funds. The latest Proof of Reserve (PoR) report confirmed that Binance’s XRP holdings declined from 115 million to 90.4 million tokens, though the exchange maintained a 103.29% reserve ratio. 

Binance also increased its USDC reserves, suggesting strategic asset conversions rather than outright liquidation. Customer support later attributed the sales to treasury accounting adjustments rather than direct market sell-offs.

Even with the ongoing speculation, Binance continues to dominate the market, maintaining its position as the leading crypto exchange with a 40% market share and $7.35 trillion in trading volume in 2024. Bybit secured the second spot with a 9.3% share, while Crypto.com recorded the fastest growth, surging 970% year-over-year to $1.29 trillion. Bybit and Gate.io also saw impressive gains of 398% and 242%, respectively. 

Meanwhile, Binance and the U.S. Securities and Exchange Commission (SEC) have jointly requested a 60-day pause in their legal battle. The motion, filed on February 10, 2025, in the U.S. District Court for the District of Columbia, cited the SEC’s newly formed crypto task force as a key factor in their decision.

This article has been refined and enhanced by ChatGPT.