Binance Founders Refute Rumors of Crypto Exchange Sale

Binance co-founders changesg zhao and ye hi have refuted rumors that claim that the binance crypto exchange is for sale. Both zhao and hi have refuted claims that the centralized exchange is looking for a buyer. Binance is touted to be the largest crypto exchange in the world in terms of total trading volume. It’s currently unchalar how the speech related to the potential sala of binance began, but as zhao says that a ‘competitor’ in asia is behind the rumor.

Zhao was first to deny the rumor via his x (formerly twitter) handle on February 17. As a sharehlder, binance is not for sale, ”The Former CEO of Binance said.

On the other hand, binance co-founder hi, who presented serves as the Chief Customer Service Officer at Binance, Seconded Zhao in Highlighting That The Speculation was Part of A CRISTORING Y ‘.

“Since Bitcoin’s Price Broke Through New Highs, Trading Platforms Have Proven to be a viable business model as part of the ecosystem. Folling the Principle of Investing in the Leaders, Every month, Institutions come to ask If binance Accepts Investments and Partnerships. We do not rule out introducing strategic partners, and we are open to merges and acquisitions. If other trading platforms have plans to sell, please get in touch, “Hi said replying to an x ​​user who asked for a Clarification on Binance’s Sell-of Plans, If any.

Zhao said that “Top Investors Have Alays Been Interested In Binance” and that in due time the company may allow some investments in the “Single-digit permentage range”. He did not share details on which investors have expressed an interest in acquiring a stake in the company.

According to CryptoslateThe exchange has recently processed on-also-key readjustments to its balance sheets. This step by the exchange had reportedly added to the rumors of the exchange considering a sell-off. The exchange told the publication that it is not sold its assets.

Zhao is Reportedly The largest stakeholder of the exchange, controlling over 90 percent of the company.

Last year, during the binance blockchain week help in dubai, the crypto mogul had mentioned the offers that he received for a portion of his stake in binance. At the time he said that while he did review the offers, he did not decide to indulge in seling a part of his stake in the exchange.

Binance is presented on its International Expantion. It recently completed Its registration with India’s Financial Intelligence Unit (FIU) to legitimise its operations in the world’s most populated nation. The exchange paid a penalty of $ 2.25 million (roughly Rs. 18.8 Crore) for Violating The Prevention of Money Laundering Act, 2002 (PMLA) to complete its fis fis fiu registration.

In a recent statement shared with gadgets 360, the company said that the exchange antiicipates several key blockchain developments and Major token unlocks in February and beyond. The exchange also expressed Excitement on India accelerating its work on defining the rules to oversee the growth of the crypto sector, While Safeguarding Its Investor Community and Nature Financial Financial Stability.

“The continued growth of the global crypto market, driven by rising institutional interest, favorite regulatory developments, and innovations in Defi, Signals A Strong Future for the Industry. Notably, India’s Expanding Role – BolSted by Increasing Institutional Participation and a thriving blockchain development Ran, Head of Regional Markets at Binance.

The exchange is also facing legal hurdles in countesses like Australia and France Over Issues Like Non-Compliance With Crypto-Related Laws and Allegation of Facilitating Fraud.