BNB Plunges to Lowest Price Following FTX’s Bankruptcy
Investors’ concerns about Bianance have still not subsided even after a month has passed since the collapse of FTX. Binance’s lovely coin, BNB, has dropped 15% over the past week and 6% in just the last 24 hours. Binance CEO, Changpeng Zhao, has dismissed any concerns that investors will pull their money out from Binance and has said that his company is financially sound. Withdrawals are another area of concern. Customers withdrew about $1.14 billion on December 13, 2022. But Zhao said that this was not a cause for concern as customers have withdrawn even higher amounts in the past. Out of a maximum supply of 200 million, 160 million BNB are in circulation. The SEC is investigating whether the token sale is covered by the security registered with the regulators.