CZ Says He Never Said He Planned to Sell Binance's SPCX Shares

CZ said Saturday he never said he planned to sell Binance’s SPCX shares, clarifying that he had cited the holding to show the exchange owns assets beyond cryptocurrency.

In a post on X, CZ said he mentioned the shares after posts compared Binance with FTX. He said the discussion could leave the impression that Binance lacked funds, and that he wanted to show the exchange held assets beyond crypto.

CZ previously said Binance’s SPCX stake came from a $500 million investment in Elon Musk’s acquisition of Twitter and was worth more than $1 billion.

CZ also said Binance’s relevant assets were too small to pose a threat to the other side, which he did not identify. He said SPCX would remain a quality stock worth holding for a long time and urged people not to frame the discussion as a confrontation.