According to a recent tweet by the CEO of Binance, Changpeng Zhao the benefits of getting involved with Binance Coin are very much real. Whereas such a tweet could seem harmless to many, it could also have an impact on the price of BNB. When you consider that Zhao has a big grip of influence on the space, this whole situation is slightly questionable.
In the past, we’ve seen CEO’s of big companies get scrutinised and even sued for bolstering the value of their companies, but how long will it be until the crypto industry we similarly punished in such a way.
Binance coin has seen better days, that’s for sure. Over the summer, the token has lost more than half of its value, dropping from it's all-time high of $40 in June to just $21.
The overall ecosystem of binance is doing all sorts though! There are plenty of developments for Binance and its platform but for investors, this means nothing. Something similar is happening with XRP as the firm is making waves throughout the world but the community couldn’t care less.
Now before we go any further, it’s worth noting that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
Despite the backlash, CZ sent out a tweet over the weekend stating:
“I asked this on Dec 8, 2018, when #BNB reached a low of $4.22. We kept on building, never doubted it. Launchpad released in Jan.
And now, we continue to #buidl, more ferocious than ever. I want to ask this question again.
In the future, don't say I didn't tell you.”
It will be interesting to see how this plays out and whether CZ will face any backlash for the tweet but for more news on this and other crypto updates, keep it with CryptoDaily!