Binance quarterly burn
Just recently, Binance acted in full compliance with its periodic commitment to burn a sizeable share of its BNB and foster the growth of the ecosystem.
On the 11th of July this year, CEO CZ announced that the giant cryptocurrency exchange firm had burned over 808,000 BNBs which translate to a whopping $23,000,000 in its bid to take an active part in the ongoing periodic token cycle. In fact, Binance reiterated its desire to burn the entire $2.4 billion worth of BNB tokens and promote freedom of money.
CZ further revealed that they’d still burn the remaining 89,000,000 BNBs in quarterly phases until the company achieves the desired results. In hindsight, burning BNB coins is viewed as a tool to limit their supply hence distribute the earnings equitably to holders of accounts.