Binance CEO Changpeng Zhao announced that the exchange team was allocated 40% of the 200 million BNB printed during the 2017 ICO.
In a Twitter post, Zhao stated that the exchange team will eventually burn all allocated BNB tokens. The amount is almost equal to 80 million BNB and 37 Billion $. It will be burned instead of selling it at a profit.
Crypto exchange Binance completed its first token offer (ICO) of 100 million BNB on July 21, 2017. All BNB tokens were created before the ICO and sold within 20 days.
At the time of writing, BNB is trading at $ 474, down 10.20% in the last 24 hours.
Binance “BNB Financial is used across multiple DeFi platforms built on BSC providing payment solutions. “With the growth of BSC, more and more people are using BNB and the more it has, the more value it gains.”
Specifically, the DeFi sector has been rising in the past few months and the industry may further increase the price of BNB tokens.