Binance’s CEO, Changpeng Zhao has notified the cryptocurrency community that the 15th BNB coin will be burned within a month or so. CZ provided an estimate of the time of the next coin burning based on a Twitter query. The following is his response and his first tweet asking about the next coin brand.
News of the CFTC’s investigation on Binance
Yesterday, the cryptocurrency community was shaken by the news that the US CFTC was investigating whether the exchange wanted to enable Americans to trade on the platform. Prior to the news of the investigation, the BNB’s transaction price was $288, down 14% to $247 when the information was released.
Binance Not Accused of Any Wrongdoing
It should be noted that the CFTC has not alleged wrongdoing, and the information about the investigation may have been exaggerated by major news outlets. CZ was quick to point out that cryptocurrency investors will soon find out that this is FUD, as shown in the following tweet.
Binance Coin Increased 42 times since March last year
At the time of writing, Binance Coin has bounced back from yesterday’s decline and is currently trading at $268. The resilience of BinanceCoin can be traced back to the fact that Binance quickly ameliorated such CFTC investigations by launching Binance.US. Meet US users’ needs in compliance with US regulations.
It’s worth noting that on March 12, the NBB fell to a low of $6.40 due to the coronavirus pandemic announcement. If you compare the low of $6.40 with the current BNB price of $268, it shows that Binance Coin’s value has risen 41.875 times in one year.
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