• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Binance's profitability prompts doubts about wealth assessments

Binance's profitability prompts doubts about wealth assessments

user avatar

by Diego Alvarez

9 hours ago


Binance, one of the leading cryptocurrency exchanges, has just wrapped up its 33rd quarterly BNB burn, a process that significantly impacts the supply of its native token. This latest burn has seen the destruction of around 209 million BNB, highlighting the exchange's robust financial performance over the past quarter. The source reports that this event is part of Binance's ongoing strategy to enhance the value of BNB for its users.

BNB Burn Highlights Binance's Profitability

The recent BNB burn not only reflects Binance's strong profitability but also raises eyebrows regarding the valuation of its CEO, Changpeng Zhao, as reported by Hurun.

Analysts Question Zhao's Wealth Valuation

Given the scale of the quarterly profit indicated by the burn, some analysts are questioning whether Zhao's wealth has been undervalued, suggesting that the figures may not fully capture the financial success of the exchange.

Implications for Token Value and Zhao's Financial Standing

As Binance continues to thrive in the competitive crypto market, the implications of this burn could have far-reaching effects on both the token's value and Zhao's financial standing.

The recent BNB burn by Binance underscores the exchange's strong performance, while investor interest in the BullZilla presale is also surging, nearing $1 million raised. For more details, see BullZilla presale.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Ripple Consolidates Below Key Resistance Level

chest

Ripple is currently consolidating below a critical supply zone after reclaiming the 200-day moving average, indicating potential for a bullish reversal.

user avatarAndrew Smith

XRP Price Analysis Indicates Potential Breakout

chest

XRP has completed a bullish breakout from a symmetrical triangle formation and is currently testing new support levels.

user avatarJacob Williams

Everstake and Colossus Digital Join Forces to Enhance Institutional Staking

chest

Everstake and Colossus Digital have partnered to provide custody-controlled staking solutions for financial institutions, enabling them to stake digital assets while maintaining compliance and control.

user avatarZainab Kamara

Major Financial Institutions Back Securitize's $469 Million Deal

chest

Securitize's merger is supported by major financial institutions, including BlackRock and ARK Invest, raising about $469 million in total proceeds.

user avatarMaria Fernandez

Bubblemaps Unveils IntelDesk Alongside Binance Partnership

chest

Bubblemaps has launched IntelDesk, a public platform for crowdsourced onchain investigations, coinciding with its integration into Binance's Web3 Wallet.

user avatarAyman Ben Youssef

Binance Enhances Web3 Wallet with Bubblemaps Integration

chest

Binance has integrated Bubblemaps into its Web3 Wallet, enhancing user access to onchain analytics.

user avatarTando Nkube

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.