According to the official announcement by Binance cryptocurrency exchange, the platform burned 1,643,986 BNB, roughly valued at the U.S. dollar equivalent of $17 million in accordance with its whitepaper.
Burn completed. Fastest way to spend money. https://t.co/JcWekT1bHf
— CZ Binance (@cz_binance) October 17, 2018
The burn of platform cryptocurrency occurred with the Binance’s buyback policy, the aim of which is to purchase back platforms in-house digital asset (BNB) at market values in an apparent bid to please the investors.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.