General World News

Only one cryptocurrency is outperforming bitcoin this year — and its exchange has pioneered the practice of destroying coins every quarter

bitcoin accepted here cryptocurrency

  • Binance Coin, or BNB, is the only major cryptocurrency outperforming bitcoin this year, but its namesake exchange is facing new concerns around increased competition, police raid rumors, and its “burning” practice.
  • The Binance exchange faced new scrutiny after it said in November it has no “fixed offices in Shanghai or China” following reports of a police raid in the country, Bloomberg first reported.
  • The exchange also destroys, or “burns,” a portion of BNB coins in circulation each quarter as part of a plan to slash supply in half.
  • Though Binance buys the coins off investors before destroying them, the read more >>>

    Source:: BusinessInsider.Com