One of the largest exchange in the world has recently concluded their quarterly token burn in which they have sent 808,888 BNB (currently worth around 23,838,000 USD) to an unrecoverable address in an effort to reduce the total token supply periodically.
At the same time Binance’s founder and CEO Changpeng CZ Zhao has announced that it will be relinquishing the entire BNB allocation of the team in an effort to promote the growth of the ecosystem.
During a recent ask-me-anything event, CZ, emphasized Binance’s commitment to burn over $2.5 billion worth of BN which belongs to the Binance Team, making the digital asset more scarce and perhaps make it more valuable in the future.
Binance really knows how to play its card proven by the fact that they have already reached the 6th spot in the crypto ranking, and they were able to formulate a win-win business strategy that enabled them to become the world’s top exchange by trading volume.
Headlines for the world of Cryptocurrencies - July 12, 2019
- PwC Reports Token Sales In Q1 Raised $3.3 Billion
- Crypto Too Disruptive To Ignore
- Binance Suggest Merge Mining To Mitigate Halving Shocks
- First Consumer-Facing Blockchain Token Approved By SEC
- Another Bitcoin Derivatives Soon To Hit The U.S.
Headlines for the world of Cryptocurrencies - July 11, 2019
- Blockstack Token Offering Approved By SEC
- Shell Invested In Blockchain Start Up For Energy Tracking
- Registration With Financial Watchdog A Requirement In Canada For Crypto Exchanges
- Bitcoin Core Developers Gets $60,000 Grant From Bitmex
- Gemini Eying Libra Association Membership
Headlines for the world of Cryptocurrencies - July 10, 2019
- Samsung Releases SDK For Ethereum Developers
- Ban On USD Creates Massive Interest On BTC In Zimbabwe
- The Hashrate Growth Of Bitcoins Continues To Accelerate Reaching New Highs
- Coinbase And Aon Launching Regulated Insurance
- Election Authority In The U.S. Set To Decide On Member’s Ethereum Token Initiative
