Binance’s Coin Burn Happened Yesterday

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On April 14, Bitcoinist reported that Binance, one of the most well-known cryptocurrency exchanges in the world, would likely be executing its quarterly coin burn sometime yesterday, April 15. And it did happen.

The Binance team announced yesterday the results of its Q2 2018 coin burn in an official post, writing:

“Fellow Binancians,

In accordance with our whitepaper, we have now completed the burn of 2,220,314 BNB (roughly $30M USD equivalent) for the 3rd quarter.

Thanks for the support!”

 

Immediately after the announcement, the valuation of BNB took a hit when traders decided to sell the news. Though Binance’s token fell almost 9% today, it’s USD losses were largely relieved.

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