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The BNB rate has reached a new high since June after the SEC's lawsuit against Binance
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The BNB rate has reached a new high since June after the SEC's lawsuit against Binance

Dec 26, 2023

The BNB token has returned to growth after the June decline, caused by legal actions by the SEC against Binance and its founder Changpeng Zhao. As of December 26th, the price of the native BNB coin reached $287.

At 14:40 Moscow time, BNB was trading at around $286, with an asset increase of 8% over the last day and 22.3% over the month, according to CoinGecko data. The total market capitalization of the coin reached $44.8 billion.

In June, the SEC filed charges of sanctions violations against Binance and Zhao. Following a court hearing in late November, the exchange agreed to pay a fine of $4.3 billion for violating legal requirements. The founder and CEO of Binance, having admitted the company's and his own guilt, announced his resignation from the position he had held since its founding in 2017.

During the legal proceedings, the price of BNB dropped to $205. Despite this, the token held the fourth position among cryptocurrencies with the largest market capitalization for a long time. Currently, it is in the fifth position after the cryptocurrency Solana (SOL) surpassed it in early December.

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