{"id":302372,"date":"2021-07-19T10:34:16","date_gmt":"2021-07-19T07:34:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-burns-390m-worth-of-bnb-tokens\/"},"modified":"2021-07-19T10:34:16","modified_gmt":"2021-07-19T07:34:16","slug":"binance-burns-390m-worth-of-bnb-tokens","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-burns-390m-worth-of-bnb-tokens\/","title":{"rendered":"# Binance burns $390M worth of BNB tokens"},"content":{"rendered":"

“# Binance burns $390M worth of BNB tokens <\/strong>”
\n<\/p>\n

Major cryptocurrency exchange Binance has completed its 16th quarterly Binance Coin (BNB) burn, destroying over $390 million worth of BNB.<\/p>\n

On July 18, Binance reported that it had destroyed 1,296,728 BNB tokens valued at just under $400 million at the time.<\/p>\n

The exchange noted an additional 5,163 BNB that were destroyed through its Pioneer Burn Program \u2014 an\u00a0incentive<\/a>\u00a0that aims to help users who have lost tokens through honestly mistaken transactions to smart contracts.<\/p>\n

Binance covers the losses, returning the tokens to users under specific circumstances. These token numbers are then deducted from the quarterly burn totals by the exchange.<\/p>\n

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In summary: 1,296,728 #BNB<\/a> (390,855,150 USD) burned by @Binance<\/a>.<\/p>\n

The remaining 16m BNB unlocked, and moved to a team address, according to the schedule in the white paper.#Binance<\/a> team has never used or sold a single team #BNB<\/a> thus far, only burned them.<\/p>\n

\u2014 CZ Binance (@cz_binance) July 18, 2021<\/a><\/p><\/blockquote>\n