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<ul class="news-points"> 
 <li><strong>Binance CEO CZ announces the completion of the quarterly BNB burn.</strong></li> 
 <li><strong>CZ hints at on-chain transactions to further distribute and spread BNB.</strong></li> 
 <li><strong>Binance transfers over $5.3 billion worth of BNB to unknown destinations.</strong></li> 
</ul> 
<p><a href="https://coinedition.com/tag/changpeng-Zhao/" rel="noopener noreferrer nofollow">Changpeng Zhao (CZ)</a>, the CEO of Binance, took to Twitter to announce the successful completion of the quarterly BNB burn, estimated to be worth over half a billion dollars. According to the information he shared, the burn was executed following a public algorithm.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">The quarterly <a href="https://twitter.com/hashtag/BNB?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BNB</a> burn is done, according to the public algorithm. <br><br>I was told there will be some more on-chain (large) transactions shortly, to further distribute/spread the coins to more addresses. Nothing to be alarmed about. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64f.png" alt="🙏" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>— CZ 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f536.png" alt="🔶" class="wp-smiley" style="height: 1em; max-height: 1em;"> Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1681534160257658880?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 19, 2023</a> 
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<p>However, he also hinted at additional on-chain transactions that would take place to further distribute and spread the coins to multiple addresses. In a reassuring tone, Zhao emphasized that there was no need for alarm among the community.</p> 
<p>Notably, the BNB burn is a quarterly event in which Binance destroys some BNB tokens to reduce its circulating supply, which can theoretically increase the token’s price. According…</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/cz-says-no-cause-for-alarm-amid-5-3b-bnb-movement-to-unknown-wallet/">CZ Says No Cause for Alarm Amid $5.3B BNB Movement to Unknown Wallet</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

CZ Says No Cause for Alarm Amid $5.3B BNB Movement to Unknown Wallet

Coin Edition

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