$38 Mln in BNB Destroyed in Token Burn – CZ of Binance Spreads Word

Another quarterly token burn has been conducted by the Binance crypto behemoth. This time, 2.2 mln BNB was incinerated (that’s equal to $38.8 mln).

The people laughed till she said “Burn!”

This is the tenth coin burn Binance has conducted on a quarterly basis, having taken another large portion of BNB out of circulation and reducing the current supply – this is supposed to increase the coin’s value.

The head of Binance, CZ, has spread the word about it, taking to his Twitter page.

The BNB token has been widely used by Binance, including IEOs on its LaunchPad, on which several big token sales were conducted throughout 2019, starting with BitTorrent and MATIC.

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Criminal money laundered in banks and via Binance

Binance remains the crypto exchange with the largest trading volume. However, a recent research made by Chainalysis says that such major exchanges as Huobi and Binance assist criminals in laundering their funds.

In a recent tweet the Weiss Ratings agency reminded the audience that last year criminals sent around $2.8 bln in Bitcoin to crypto exchanges, as per the study from Chainalysis. The company stated that half of that amount went to Binance and Huobi.

However, Weiss Ratings suggests that much more money is laundered via traditional banks and that this study by Chainalysis should not be taken as prejudice against Bitcoin and crypto overall.

"In 2019, criminal entities moved a total of $2.8 billion in #BTC to #crypto exchanges, according to a study from #Chainalysis. #Binance and #Huobi together received over 52% of that total. Numbers sound big until you realize criminals launder TRILLIONS every year - using banks."