Binance: Team’s Entire Supply of Binance Coin (BNB) Will be Burned – Finance and Funding

Binance, the biggest crypto exchange in the world, has completed the eight quarterly “burn” of Binance coin (BNB) tokens. Furthermore, Binance revealed plans to relinquish the BNB tokens owned by its core team. 

In a blogpost on Friday, Binance announced that is has completed its 8th quarterly BNB token burn of 808,888 BNB (roughly $23.8 MM USD equivalent). In addition, Binance announced that it will also destroy all BNB tokens that are currently in the possession of the core team at Binance.

The number of Binance Coin tokens that are allocated to the Binance core team, currently equates to 40% of the total BNB supply — 80,000,000 BNB, with a total worth of about $2,400,000,000.

Binance stated:

“Starting with this burn, Binance will relinquish the BNB tokens allocated to the…

What do you think?

0 points
Upvote Downvote

Cardano (ADA) Primed For Bull Run After It Hits The $0.07 Level, Hold or Sell?

Was my Yoroi wallet hacked?