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Binance destroys $595 million worth of BNB tokens in its largest-ever burn

Binance destroys $595 million worth of BNB tokens in its largest-ever burn



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29 Comments

  1. Was it largest ever by volume, or was it the largest by value, because these tokens are worth more than 10x as much as they were just a few months ago. As always, I’m a true redditor and I didn’t read the article.

  2. tldr; Binance has burned over 1 million BNB tokens, worth about $595 million, in its latest quarterly burn. The price of BNB jumped more than 16 times during the quarter, from around $35 to around $600. “Burning” refers to the process of permanently removing a crypto token from circulation.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. It’s crazy to think it’s becoming normal for companies in this industry to destroy HALF A BILLION DOLLARS. Imagine JPMorgan setting fire to $595B USD because they want to keep inflation low. Holy shit!

  4. Keeping the burning and the pyramid scheme alive to drive the price up. The CEO shilling it in every interview…

    Out of every coin in this space. I hate everything about it. It really is a genuine scam coin.

  5. I understand BUSD, centralized stablecoin, just like other centralized stablecoins, they have the purpose.

    What I don’t understand is BNB and people hyping around it. It’s an eth clone which sacrificed decentralization and security in order to keep the fees low.

    It is everything the opposite of what crypto is trying to resolve. No point for it to exist.

    Just my opinion from the tech side, if people are in it for earning the money – fair enough, up to a certain extent we all are. 🙂

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