![]() ![]() If the CMC BNB token count is accurate, it also means that a great portion of the Binance’s wealth comes from IOUs of its making sprinkled with crypto pixie dust. ![]() But this 57 million BNB is of questionable reliability because it contrasts sharply with the 22-40 million BNB identified by three data firms and the 16 million BNB Forbes identified using the publicly available etherscan tool. ![]() This BNB percentage is higher than any other data firm and Binance’s November statement. The CoinMarketCap January 4 BNB figure attributed to Binance represents 57 million BNB tokens and is equivalent to 31% of the exchange’s total assets. But CMC says that it supplements Binance data with that of Nansen and Defillama. The closest that an independent observer gets to the exchange’s official view on the BNB tokens on its balance sheet these days conceivably comes from CoinMarketCap (CMC), which is the largest crypto website in the world and is owned by Binance. At that time, the firm did include $17 billion denominated in BNB, which represented nearly a quarter of its assets.įast forward to today, BNB’s priced at $262 is a third lower than on November 4. If it can, data firms disagree on how much value to attribute to those holdings.īreaking with its habit of not disclosing sensitive financial information, Binance issued a public transparency statement almost two months ago, listing select crypto holdings. There’s substantial controversy about whether Binance’s BNB–a token whose minting and supply the exchange controls–represents a genuine asset that can meet external obligations in times of distress. ![]()
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