Binance founder and former CEO Changpeng Zhao (CZ) has publicly denied allegations that he sold his BNB holdings, stating in a social media post on X that he never sold any BNB except for personal spending purposes. In his statement, made on October 30, 2025, CZ emphasized, "I never sold BNB; I only used it for spending," and clarified that he purchased all his BNB tokens with his own money during the early stages of the project, rather than receiving them for free through airdrops.
This declaration directly addresses long-standing market rumors accusing CZ of insider selling or "dumping" BNB during periods of price volatility. BNB, as the core utility token of the Binance ecosystem, is designed for transaction fee discounts and use across various products, and CZ has historically described it as "the backbone of Binance." His comments come amid a steady rise in BNB's price, with experts suggesting that the clarification could boost investor confidence and reinforce positive sentiment toward the token.
Supporting this, a recent report from YZi Labs revealed that CZ personally holds less than 1% of the total BNB supply, which stands at 100 million tokens. The report detailed that public investors hold approximately 66-67% of BNB, while the BNB Foundation allocates about 27% for programmatic token burns, and Binance's treasury holds 4-5%. This transparency underscores BNB's role in powering the BNB Chain and the broader Web3 ecosystem.
Community reactions to CZ's statement have been mixed, with supporters praising his transparency and long-term commitment, while skeptics questioned the necessity of the public clarification. Despite this, the move is seen as reinforcing CZ's legacy as a builder who prioritizes holding over trading, potentially calming investor nerves in a shifting market landscape.
MIM
LTC
BTC
ETH
ZK