Binance co-founder Yi He has denied rumors that the cryptocurrency exchange is being sold, calling the claims a deliberate distraction created by competitors.
The speculation gained traction after a viral post suggested Binance was planning a sale.
“The news from a few months ago was accurate—Binance is indeed going to be sold,” a screenshot shared by crypto commentator Cloak M said. “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).”
The post did not mention the identity of the supposed Binance buyer.
Yi He Dismisses Sale Rumors
Responding on X, Yi He dismissed the rumors, stating that Binance’s business model remains strong,.
She criticized the spread of misinformation, accusing rivals of using crisis PR strategies to shift attention away from their own problems.
She further clarified that Binance is always approached by institutional investors exploring potential partnerships and investments.
While she did not rule out the possibility of bringing in strategic partners or acquiring other exchanges, she emphasized that Binance is not for sale.
“If there are other trading platforms with sales plans, please feel free to contact us,” she said.
Binance sale rumors come 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, totaling over $8 billion.
Despite the significant reduction, Binance’s BNB holdings only dropped 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 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.
In addition to the XRP sale, Binance offloaded billions in BTC, ETH, SOL, and USDT but increased its USDC holdings, suggesting asset conversions rather than full liquidations.
The exact reasons behind the sales remain unclear, though Binance’s customer support attributed them to a treasury accounting adjustment rather than direct market sales.
Binance Maintains Market Lead in 2024
Binance retained its position 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 recorded the highest growth among exchanges, with trading volume increasing 970% from $120.6 billion in 2023 to $1.29 trillion in 2024.
Bybit and Gate.io also saw major expansion, 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.
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