# Binance has not sold either bitcoin or Binance Coin, CEO says
Author: Pal sinha, Barnali
Author URL: https://startupobserver.com/author/pal-sinha-barnali/
Published: 2023-06-14
Category: Headlines
Category URL: https://startupobserver.com/category/headlines/
Meta Title: Binance CEO confirms no selling of bitcoin or Binance Coin
Meta Description: Binance CEO Changpeng Zhao tweeted that the company has not sold its holdings in Bitcoin or Binance Coin amidst a lawsuit by the SEC, leading to a drop in Binance Coin's value.
URL: https://startupobserver.com/binance-has-not-sold-either-bitcoin-or-binance-coin-ceo-says/

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(Reuters) -Cryptocurrency exchange Binance has not sold either bitcoin or Binance Coin, its native token, the company’s CEO Changpeng Zhao tweeted on Tuesday.

Last week, [Binance](https://startupobserver.com/exclusive-binance-moved-346-million-for-seized-crypto-exchange-bitzlato-data-show/) was sued by the U.S. Securities and Exchange Commission, which listed 13 charges against the [company,](https://startupobserver.com/nestle-divests-peanut-allergy-business-palforzia/) Zhao and the operator of its purportedly independent U.S. exchange.

The lawsuits against Binance and Coinbase Global have increased fears the crypto market’s ordeal could be prolonged further after the sector was battered by a string of meltdowns including the bankruptcy of FTX, Binance’s biggest competitor, last year.

Binance [Coin](https://startupobserver.com/artist-swaps-british-museum-coin-with-fake/) has lost more than 20% in value since the SEC’s action.

(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)


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