Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the news of the Binance co-founder dismissing rumours of a potential sale.
Binance Co-Founder Dismisses Sale Rumours
The co-founder of Binance has dismissed the growing speculation regarding a potential sale following a viral post suggesting as much. Yi He denied the rumours that the cryptocurrency exchange is being sold, calling the claims a deliberate distraction created by competitors. Speculation grew after a post went viral, where the post noted:
“The news from a few months ago was accurate—Binance is indeed going to be sold. In the future, it will belong to DEX, and Binance has already lost its ability to maintain an upward trajectory (mostly due to regulatory issues).”
While the post gained plenty of attention, it did not mention who was potentially purchasing the crypto exchange. Yi He was quick to respond on social media platform 'X' where she criticised the spread of misinformation, accusing rivals of using crisis PR strategies to shift attention away from their own problems. She also stated that Binance’s business model remains strong while noting that Binance is constantly approached by institutional investors exploring potential partnerships and investments.
She did not rule out the possibility of bringing in strategic partners or acquiring other exchanges but did make it clear Binance is not for sale. She stated:
“If there are other trading platforms with sales plans, please feel free to contact us.”
The sale rumours also came after the exchange liquidated over 24 million XRP from its corporate holdings as part of a broader selloff that included 94.1% of its Bitcoin, almost all of its Ethereum (ETH) and USDT, and 99% of its Solana (SOL) since January 2025. This total amounted to over $8 billion. While all of these sales happened Binance's BNB holdings dropped by 16.6%, and user reserves increased by $4 billion. The exchange assured customers that their balances remain unimpacted.
The latest Proof of Reserve (PoR) report confirmed Binance’s XRP holdings declined from 115 million to 90.4 million tokens while maintaining a reserve ratio of 103.29% to ensure fund security. The exact reasons behind the sales remain unclear but Binance’s customer support attributed them to a treasury accounting adjustment rather than direct market sales.
During 2024 Binance remained the leading crypto exchange as they had almost 40% of the total market. This accounted for $7.35 trillion in trading volume. Bybit followed in second place with a 9.3% share.
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.
Have a great day.
Peace. CryptoGod-1.
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