Binance «сожгла» 1.3 million BNB worth $640 million – Bits Media

Binance cryptocurrency exchange has conducted a quarterly “burning” of BNB tokens. This time it was burned 1.3 million tokens, And their cost became record - almost $640 million.

Recall, that the previous time tokens were burned in July - then it was destroyed 1.2 Milln BNB for the amount $390 million. The exchange plans to destroy tokens every quarter, Until it is burned 50% released BNB. It was originally released 200 million tokens, Therefore, in the end, only on the market should only remain 100 million. Now approximately approximately 166.8 million BNB.

The article on the company's blog notes, that in the period from June to August this year, the share of Binance on the market increased. If, according to The Block, the exchange is about 70% market, then, according to analysts of Binance itself, Its share is approximately 50% market. The fact, that the analysts The Block take into account the data only from large and “reliable” sites, While Binance has access to more extensive data.

Most of the article is devoted to regulation issues. As the authors emphasize, For a wider adoption of the cryptocurrency industry, more clear regulation is necessary. And to work with regulators of various countries, Binance continues to change. for instance, If the beginning was originally created as a “decentralized company” without headquarters, then Binance now opens representative offices in various countries, to achieve more trust in negotiations with regulators.

The site also continues to accept in their ranks of advisers to interact with regulators. for instance, Recently, Binance was hired by Mark Mcginness (Mark McGinness), former employee of the Dubai regulator, as a head of interaction with regulatory authorities.