Per a Bloomberg report, the U.S. Securities and Exchange Commission launched a probe against crypto exchange Binance’s native token Binance Coin (BNB). The Commission is investigating Binance Holdings Ltd., the report claims, for potentially breaking U.S. securities law.
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Binance was launched in 2017, and in July that year, it deployed its native token via an Initial Coin Offering (ICO). Binance Coin (BNB) was distributed amongst early backers and angel investors and the exchange’s core team.
The token was sold for 15 cents at its public sale, and it help Binance to raise around $15 million in funds. The money was used to improve the platform, growth, marketing, education, and more.
Citing people familiar with the …
Source : bitcoinist.com
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