Binance Coin faces pressures from a rumored November police raid in China and new firms entering the initial exchange offering market.
Binance Coin, or BNB, is the only major cryptocurrency outperforming bitcoin this year, but its namesake exchange is facing new concerns around increased competition, police raid rumors, and its"burning" practice. The Binance exchange faced new scrutiny after it said in November it has no"fixed offices in Shanghai or China" following reports of a police raid in the country, Bloomberg first reported.
Binance Coin, or BNB, is the only major cryptocurrency outperforming bitcoin this year, but its namesake exchange is facing new concerns around increased competition, police raid rumors, and its"burning" practice. The Binance exchange faced new scrutiny after it said in November it has no"fixed offices in Shanghai or China" following reports of a police raid in the country, Bloomberg first reported.
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