BNB Price Bleeds As CZ Charged Guilty! Is This A Crucial Time To Sell Binance Tokens?

The crypto market has witnessed a significant correction of over 2.5% in value within the past day. Bitcoin records a loss of 2.8%, with Ethereum's price back below the resistance level of $2,000. The drop comes following the news of Changpeng Zhao (CZ) officially stepping down as the CEO after pleading guilty to money laundering.

Timeline of Bnb

Another bombshell could strike the crypto space, as another major collapse is on the horizon. The crypto space was slaughtered hard soon after one of the major exchanges collapsed in 2022. History may repeat itself as another major and bigger exchange, Binance, is in play at the moment.

What Happened To CZ? In breaking news, CZ steps down as the CEO of Binance and pleads guilty to violating anti-money laundering requirements in Seattle. With this, Binance will now officially pay $4.3 Billion in criminal charges, one of the biggest in US history.

Binance Coin (BNB) price has tumbled 10% from $267 to $240 as markets Binance Founder Changpeng Zhao's exit. Derivative Market analysis provides vital insights into possible BNB price action for the days ahead.

In a recent report by Messari, the analysis sheds light on the developments and challenges faced by Binance Chain (BNB), the blockchain created by Binance, the world's largest cryptocurrency exchange regarding trading volume. The report highlights the separation of BNB Chain from Binance and various events and allegations that have impacted Binance and its associated entities throughout the third quarter of 2023.

Binance, one of the world's leading cryptocurrency exchanges, has successfully completed its 25th quarterly burn of BNB (Binance Coin). This burn represents a key step in Binance's strategy to gradually reduce the total supply of BNB, thereby contributing to maintaining the health of the BNB Chain ecosystem.

Binance Coin (BNB) has turned green after a brief bear market after Biannce announced the completion of the 25th quarterly BNB Burn. The burn is part of Binance's Auto-Burn Protocol.

Binance CEO Changpeng “CZ” Zhao celebrated the 25th quarterly token burn with the crypto community. Binance, the world's largest crypto exchange, burned 2.14 million BNB tokens valued at $453 million on October 16, as reported by the BNB burn portal.

Binance CEO Changpeng “CZ” Zhao took to X to celebrate the 25th quarterly burn with the crypto community. The world's largest crypto exchange Binance burned 2.14 million BNB tokens worth $453 million in the 25th quarterly burn mechanism on October 16, according to the BNB burn portal.

Following recent weekly lows, Bitcoin and prominent alternative cryptocurrencies are observing a slight retraction, suggesting that investors might be capitalizing on the decline. In a recent assembly on September 20, the Federal Reserve chose against elevating interest rates.

BNB still managed to achieve its highest weekly volume in the last 24 hours. This may explain why the price continued to rally although the lack of enthusiasm suggests that BNB bulls are pulling their punches.