BNB token rises by 15% since the beginning of the year

The rise was accompanied by FUD against the Binance exchange

09.01.2023 - 08:40

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2 min

What’s new? The native token of the Binance cryptocurrency exchange, BNB, has moved to steady growth despite interest in the platform from US regulators. The asset has added 15,76% since January 1, 2023, and as of this writing (January 9, 08:00 UTC) is trading at $279,24. The token has a market capitalization of $44,53 billion, and the asset ranks fourth in the CoinMarketCap rating.

BNB chart

Situation with Binance. The investigation against the exchange began in 2018. A money laundering and sanctions violation case was opened against it. Currently, the final decision is delayed due to the collection of additional evidence and disagreements among the US Justice Department’s prosecutors. In January 2023, the media reported that Binance and US hedge fund transactions were being investigated by the New York State Attorney’s Office. According to WSJ sources, investment firms received subpoenas demanding that they turn over correspondence with the exchange to prosecutors.

Binance representatives note that they regularly cooperate with regulators around the world. And in December, the company joined the executive committee of the Chamber of Digital Commerce, a US lobbying group for the blockchain industry.

In December, crypto exchange OKX announced the listing of BNB and the opening of spot trading of the asset in pairs with Tether and USD Coin stablecoins.

For the extent of Binance’s impact on the crypto market, read GetBlock Magazine’s article.

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