BNB’s Price Skyrockets
Binance Coin (BNB) recently hit an all-time high, boosting its market capitalization to over $109 billion. This surge has mirrored the rise of Binance, the world’s largest crypto exchange.
BNB’s Utility and Benefits
BNB holders enjoy trading fee discounts on Binance and can use the token to pay fees on Binance Smart Chain. The recent demand for BNB has been driven by increased spot trading activity.
CZ’s Wealth Surpasses $38 Billion
Binance founder CZ (Chagpeng Zhao) is now the richest person ever to serve time in a US federal prison. His net worth is estimated at $38.5 billion, largely in BNB.
Binance’s Legal Challenges
Binance has faced allegations of anti-money laundering and sanctions breaches. CZ agreed to pay a $50 million fine as part of a settlement.
BNB’s Future
Despite the legal challenges, the surge in BNB’s value indicates continued interest and confidence in the token and its ecosystem.
