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Benzinga
Benzinga
Business
Adrian Zmudzinski

BNB's Blockchain Burns Almost $742M Of BNB In One Go: Automated Token Burning In Action

BNB Binance

The blockchain launched by the world's top cryptocurrency exchange Binance has burned (cryptospeak for permanently destroying an asset) about 1.84 million Binance Coins (CRYPTO: BNB) this quarter, equivalent to nearly $742 million as of press time.

What Happened: BNB burn tracker BNBBurn shows that the burn was successfully processed by the blockchain on Tuesday. Binance CEO Changpeng Zhao commented on the burn, tweeting that "BNB is deflationary. If you don't know what that means, you lack basic financial knowledge to get lucky in this world."

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