Binance to Report On New BNB Coin Burn

2 220 314 BNB tokens ( approx. $30 000 000 ) were destroyed
16 April 2018   586

The Binance Exchange has reported on the successful third quarterly burning of its own Binance Coin tokens.

Binance
BNB Burn

2,220,314 BNBs were destroye for a total of about $ 30 million, representing 20% ​​of the company's revenue for the last quarter.

As noted by the CEO of Binance Changpeng Zhao, in dollar terms the amount was less significant than last quarter, in Binance Coin - more. He explained this: the volume of trading on the market of crypto-currency, including Binance, has recently declined, which is why the stock exchange collected fewer fees in Fiat. However, the price of Binance Coin also decreased.

At the same time, Zhao notes that Binance Coin's price has been quite good for the other crypto currency, which caused many market participants to view their own exchange token as a tool to protect assets in the period of high volatility.

Binance to Start New Fiat Exchange Beta Test

As reported, CEO of the exchange had announced the new platform at event in Singapore
17 September 2018   168

On Tuesday, September 18, Binance will launch closed beta testing of a new trading platform with support for Fiat in Singapore.

The corresponding statement of the head of Binance Changpeng Zhao made on Twitter.

I just slipped that we will begin Binance Singapore fiat exchange live money closed beta testing on Sept 18th, in 3 days. Invitation only first. Exciting!
 

Changpeng Zhao

Founder, Binance

Other details of the new Binance initiative have not yet been disclosed, but it can be assumed that the new exchange will support the Singapore dollar.

As Finance Magnates clarifies, Changpeng Zhao also reported on the launch of the new platform at the blockchaain conference in Singapore, where co-founder and CEO of the Gemini exchange Tyler Winklewoss also attended.

Last week Binance signed a memorandum of understanding with the Stock Exchange of Malta, under which a platform will be launched to trade tokens with the properties of securities.