Exchanges that pair Binance Coin and Tether include: Some investors look for trading pairs, where a cryptocurrency token like Binance Coin is paired with a stablecoin like Tether. Even popular exchanges like Kraken and Gemini don’t offer BNB trading.Ĭryptocurrency exchanges that allow users to buy and sell BNB with either fiat currency or other cryptocurrencies include:īinance.US users also receive a 25% discount on trading costs when using BNB to pay fees. Where Can I Buy Binance Coin?ĭespite Binance’s popularity, Binance Coin is not available on all exchanges. It can also be used to trade for other cryptocurrencies, such as Bitcoin, Dogecoin or Litecoin. This strategy is designed to make the supply of BNB more exclusive and valuable.īinance Coin holders can use the tokens to receive discounts on Binance crypto exchange transaction fees. Every quarter, Binance uses 20% of its profits to buy back and burn Binance Coins, removing them from circulation and permanently destroying them.īinance will continue this process every quarter until it destroys 100 million Binance Coins-approximately 50% of the supply. BNB was launched in 2017-initially on the Ethereum blockchain-with an initial coin offering, or ICO, of 100 million tokens at 15 cents per token.Ī unique feature of Binance Coin is coin burning. According to Binance, the cryptocurrency exchange is the largest in the world based on trading volume.īinance Coin is the cryptocurrency coin that powers the Binance ecosystem. Securities and Exchange Commission logo and representations of cryptocurrency with Binance's logo are seen in this illustration taken June 6, 2023.On 's Website What Is Binance Coin (BNB)?īinance has launched a decentralized crypto exchange, a peer-to-peer crypto trading platform and two parallel blockchains: Binance Smart Chain (BSC) and Binance Chain. The collapse of crypto prices last year as well as the demise of several notable crypto companies - including FTX - exposed investors to billions of dollars in losses. In August 2021, SEC chair Gary Gensler said investors weren’t adequately protected in crypto markets, calling them more like the “ Wild West.” READ MORE: Amid value drops and increased regulation, what’s the future of cryptocurrency? regulators believe cryptocurrency has no room in the traditional financial system. Industry leaders say the SEC crackdown signals that U.S. The cryptocurrency industry has been marred by scandals and market meltdowns. customers and transfer assets to them within two weeks. The consent order obliges Binance to create new digital wallets for U.S. It also requires SEC oversight on any spending and prohibits the defendants from destroying records, the agency said in a statement. federal judge Amy Berman Jackson prevents the defendants from spending corporate assets other than for ordinary business expenses. It filed similar charges against the world’s other top cryptocurrency exchange, Coinbase, nearly simultaneously.īut Binance and its CEO, Changpeng Zhao, face additional charges of diverting customer funds – concealing the fact that it was commingling billions of dollars in investor assets and sending them to a third party that Zhao also owned.Īs a result, the SEC asked that the assets of Binance’s U.S. law by operating as an unregistered securities exchange. Under a consent order filed Saturday, the defendants in the June 5 lawsuit agreed to repatriate all assets held for the benefit of Binance’s U.S. Securities and Exchange Commission and Binance have reached an agreement in court that lets the world’s largest cryptocurrency exchange continue to operate in the United States as it battles SEC fraud charges.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |