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BNB prices have skyrocketed 300 times and have a market capitalization of over $ 18 billion. The large rally was helped by the significant rise in both Bitcoin and Ethereum prices from late 2020, but recently crypto because of the strong fear of the spread of the new “Cryptocurrency Winter”. It collapsed with the expansion of the currency market.
It is now reported to be subject to the Securities and Exchange Commission (SEC) investigating whether Binance broke securities rules by selling BNB after the emergence of BNB. One Bitcoin and cryptocurrency exchange expert is Binance.
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Ethereum’s rival Bitcoin and Binance’s BNB are priced .. .. [+]
“The Binance BNB, which is exactly the subject of the SEC investigation, is a prime example of potential conflicts of interest and market equity issues,” said Zoltan Kormanyos, general counsel of the international broker comparison website Broker Chooser. I mentioned in the comments in the email and added the SEC probe. A comparison site identified in the “Trend” Bitcoin and Cryptographic Exchange Research.
Kormanyos argues that crypto exchanges use funding and trading products similar to traditional finance, and that regulators need to treat them differently. Since the 2017 Initial Coin Offering (ICO) boom, where many companies are trying to raise money by issuing cryptocurrencies, the SEC has brought dozens of enforcement measures against ICOs.
Binance and BNB’s research is likely to be months ahead of the conclusion, people familiar with the matter said. Bloomberg.. The news of the survey caused a 10% drop in BNB prices, and it has rebounded slightly since then.
According to Binance’s BNB white paper published before launch, 85% of the funds raised by the ICO will be used to build and promote the Binance platform. Binance traders who pay commissions using BNB can get discounts on the exchange.
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BNB prices have been with Bitcoin since its launch in 2017 .. .. [+]
“While the SEC is investigating Binance, it’s unclear how Binance is related to other brands under the same umbrella, so it’s all about the brands themselves that appear to lack transparency between the entities. “The eyes are on,” said Kormanyos, a myriad of legal and regulatory challenges faced by Binance last year, and its relationship with Binance and its US affiliate Binance US.
BNB prices have plummeted in recent months, along with Bitcoin, Ethereum and other major cryptocurrencies, and have lost more than half of their value since the end of last year.
In late 2020, the SEC sued crypto firm Ripple, claiming it violated securities rules when it sold XRP.
XRP
This week, Binance was also accused of being a means of laundering fraudulent funds of at least $ 2.35 billion.
Reuters Analyzing court records, discussing with law enforcement agencies, working with blockchain analysis firms Chainalysis and Crystal Blockchain to track Binance’s illegal funds, and the exchange being a “hacker, scammer, drug trafficker hub” We have released a report claiming that it has become.
Binance pushes back various claims in the report, Forbes This report is a “terribly misleading, informed editorial using old information and unconfirmed personal evidence of 2019.”
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