Binance completes sixteenth quarterly burn of BNB worth nearly $394 million

The cryptocurrency exchange Binance carried out the sixteenth quarterly burn of Binance Coin (BNB).

#Binance Completes 16th Quarterly #BNB Burn

🔥🔥 $393.6M USD has been burned! 🔥🔥

➡️ https://t.co/Qpkwg7dU4U pic.twitter.com/DbAiVJtKYB

— Binance (@binance) July 18, 2021

A total of 1,296,728 BNB was burned, including 5,163 BNB under the Pioneer Burn programme. The total value of the burned tokens was $393.6 million at the time of the operation.

Binance CEO Changpeng Zhao emphasised that the team ‘never used or sold BNB, only burned them’.

In summary: 1,296,728 #BNB (390,855,150 USD) burned by @Binance.

The remaining 16 million BNB unlocked, and moved to a team address, according to the schedule in the white paper.#Binance team has never used or sold a single team #BNB thus far, only burned them.

— CZ 🔶 Binance (@cz_binance) July 18, 2021

In April Binance burned 1,099,888 BNB worth $595 million at the time of the operation.

In January 2021 the exchange burned 3,619,888 BNB, worth $165.8 million in fiat terms. Previous record was set in October at 2,253,888 BNB.

Follow ForkLog news on Facebook!