Many believe that Binance, the firm behind BNB coin is up for sale, a rumor now dispelled by Changpeng Zhao, the biggest shareholder in the trading platform
Amid speculation of a memecoin issuance from Changpeng ‘CZ’ Zhao, former CEO and major shareholder of Binance, another rumor is circulating in the broader cryptocurrency space. This time, it is about a possible sale of the crypto exchange, Binance.
Binance Remains Intact Despite Speculation
However, in a swift reaction to the rumor, Zhao shared an update with the community. Zhao maintained that the crypto exchange he co-founded was not up for sale.
He alleged that the sales rumors were being peddled by a competitor in Asia who sees themselves as of less significance to Binance.
Zhao denied the insinuations outright, stating that as a major shareholder in Binance, he would know if a sale were in the works. The former Binance CEO however acknowledged that Binance has remained of interest to top investors in the crypto exchange.
Zhao hinted that over time, Binance might consider small-scale investments in the exchange. However, such investments would only allow for a single-digit percentage range. This implies there would be no threat to the ownership structure.
Interestingly, when a user, Spiggy, suggested that anyone interested in buying Binance should offer $4 trillion, Zhao’s reply was telling.
“Who said it’s not for sale?” Zhao asked, with a laughing emoji to indicate the humorous banter.
BNB Surges Amid Broader Market Dynamics
In the broader crypto market, Binance is experiencing some level of bullish sentiments towards its coin, BNB. In a notable move, Bhutan, a country in South Asia with over $1.1 billion in Bitcoin has also signaled interest in BNB.
Bhutan in its expansionary move of its crypto asset reserve has listed Binance Coin as one of the assets it intends to HODL. The country aims not only to stabilize its reserves but also diversify it beyond traditional assets like gold and foreign fiat.
In another notable development, Binance Coin has witnessed a bullish rally recently. This rally saw BNB edge out Solana to become the fifth-largest cryptocurrency by market capitalization.
Notably, BNB now has a market capitalization of $96.14 billion as against Solana which currently stands at $88.31 billion.
The growth of BNB has been attributed to the upcoming improvements as revealed in the BNB Chain 2025 roadmap. Additionally, the speculation of a possible memecoin issuance has supported the ecosystem’s growth.
Meanwhile, in late January, Zhao predicted a future where Artificial Intelligence (AI) and crypto would merge. It is however unclear if Binance is already exploring this integration.
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