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Binance Unlocks Its Team’s 32 Mln BNB Stock to Hold Long Term, Tron to Unfreeze Its TRX Next Year
Several positive pieces of news have been broken by Binance on Wednesday, June 26. The world’s leading crypto exchange has launched a major platform upgrade Binance 2.0 with margin trading open on it.
While #bitcoin is on a tear on price, @Binance have rolled out Binance 2.0, with margin access to everyone.
— CZ Binance (@cz_binance) June 26, 2019
In bear and bull markets, we #BUIDL! pic.twitter.com/N2aA7vSWxF
Also, Changpeng Zhao has tweeted that the team has unlocked its BNB stock and is storing it on four accounts. No BNBs have been spent yet, the team are holding it long term, as per the tweet. The total amount of BNB that has been unfrozen is 32 mln.
There are now 4 addresses holding 8m $BNB each, totaling 32m $BNB unlocked for the team, but not a single BNB has been spent. We #HODL for the long term. https://t.co/RAHVv7YeII
— CZ Binance (@cz_binance) June 26, 2019
Binance unlocks its BNB, Tron is to follow suit
Several crypto platforms that have native currencies have sent only part of the pre-issued stock to circulation, having kept the rest for the needs of the project. From time to time, some of them, such as Ripple, unfreeze a certain amount from that stock to finance themselves or sponsor other projects.
Ripple regularly unlocks from several million to a billion XRP from their escrow account. XRP is not mineable and for these two reasons many consider the project centralized unlike Bitcoin, Ethereum and other projects.
As per CZ’s Binance, the team is not going to spend the unlocked BNB but hold the coins long term.
Yuri MolchanTron to unlock their TRX
During the live stream that took place a couple of days ago, Justin Sun said that as 2020 starts, Tron will also unlock their TRX coins, however, the team has not yet planned how to use them.
Earlier, it was reported that some of Binance’s staff have chosen to receive their salary in BNB.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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