Token

Billion

<ul class="news-points">
 <li>Forbes investigation reveals Binance allegedly controls 76% of BNB supply.</li>
 <li>Binance likely raised less than $5 million in its ICO versus the $15 million it claimed.</li>
 <li>Binance and its CEO CZ have yet to respond to the accusations.</li>
</ul>
The largest <a href="https://coinedition.com/tag/binance-news/" rel="noopener noreferrer nofollow">crypto exchange, Binance</a>, has come under scrutiny again amid claims that the exchange holds the overwhelming majority of the supply of its native token, BNB.
In a recent tweet, Javier Paz, director of data and analytics at Forbes, claimed to have conducted a six-month-long investigation about Binance operations since its debut. The result of the investigation led to a two-part article titled “How Binance Turned Its Failed Token ICO Into A Billion Dollar Windfall.”
Based on his extensive investigation, Paz concluded that Binance owns an estimated 76% of the total BNB coins in circulation. In the tweet, he tagged prominent <a href="https://coinedition.com/data-shows-promoter-of-binance-fud-adam-cochran-is-an-ftx-affiliate/" rel="noopener noreferrer nofollow">Binance critics</a> such as&nbsp; Adam Cochran.
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 Today's <a href="https://twitter.com/ForbesCrypto?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ForbesCrypto</a> report following my 6-mo investigation points to Binance now owning an estimated 76% of all BNB. It all started with a failed 2017 ICO. <a href="https://twitter.com/adamscochran?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@adamscochran</a> <a href="https://twitter.com/Travis_Kling?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Travis_Kling</a> <a href="https://twitter.com/CryptoDefiLord?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@CryptoDefiLord</a> <a href="https://twitter.com/JW100x?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@JW100x</a> <a href="https://twitter.com/ChainArgos?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ChainArgos</a> <a href="https://twitter.com/NotChaseColeman?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@NotChaseColeman</a> <a href="https://twitter.com/ArkhamIntel?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ArkhamIntel</a> <a href="https://t.co/4tU5Bqn2mH" target="_blank" rel="noopener noreferrer nofollow">https:/…</a>
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The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/forbes-likens-binance-to-ftx-argues-it-is-in-an-existential-crisis/">Forbes Likens Binance to FTX, Argues It Is in an “Existential Crisis”</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Forbes Likens Binance to FTX, Argues It Is in an “Existential Crisis”

Coin Edition

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