Amid Speculation and Rumors Surrounding Binance, Exchange Token BNB Suffers Losses From the Alleged FUD

Following the FTX collapse, the largest cryptocurrency speech by commercialized volume, Binance, has been surrounded by rumors and speculation successful caller times. On Dec. 12, 2022, Reuters reported that U.S. Department of Justice prosecutors person been investigating Binance, according to 4 radical acquainted with the matter. Moreover, portion a fig of crypto assets person risen successful worth this past week, Binance’s speech token has slid astir 6.9% against the U.S. dollar implicit the past 7 days.

Binance’s BNB Takes a Hit from the Speculation Surrounding the World’s Largest Crypto Exchange

This week, Binance is dealing with a batch of rumors, speculation, and FUD (fear, uncertainty, and doubt) pursuing the aftermath of the caller FTX collapse. Across societal media, there’s been speculation concerning Binance’s proof-of-reserves (POR) and criticism against the company’s POR efforts.

In a Dec. 13 Twitter post, Binance CEO Changpeng Zhao (CZ) retweeted a station from 2019 that says helium seeks and provides affirmative energy. “I artifact negativity/annoyance, I beryllium myself, a mean guy, thing fancy, [and] I interact with our supportive community,” CZ wrote connected Twitter connected March 16, 2019.

On Dec. 13, Changpeng Zhao, commonly known arsenic CZ, addressed the FUD connected Twitter. “FUD helps america grow, adjacent though they are thoroughly annoying,” CZ tweeted. “You tin FUD astir idiosyncratic without explicitly mentioning their name, which spreads awareness. It besides helps unite their supporters due to the fact that it forms a communal defence alliance.”

CZ insisted that since time one, Binance was relentlessly targeted with FUD — immoderate of which was allegedly sponsored by a ample exchange. “Since then, determination has hardly been a week going by without immoderate FUD. We learned the quality to disregard them and support building,” CZ added successful his Twitter thread.

CZ’s commentary follows the Reuters report published connected Dec. 12, which claims the U.S. Department of Justice (DOJ) has been investigating Binance. Reuters reported connected Monday that 4 radical acquainted with the substance explained that DOJ prosecutors are astatine likelihood astir the alleged investigation. The reported divided betwixt DOJ prosecutors is “delaying the decision of a long-running criminal investigation” into Binance, Reuters newsman Angus Berwick wrote.

Meanwhile, Binance’s speech token BNB has taken a large deed from the speculation and FUD surrounding the world’s largest crypto exchange. The crypto speech token BNB has mislaid 8.5% successful worth during the past 2 weeks.

Seven-day stats amusement BNB shed much than 8% against the greenback but since the caller U.S. ostentation information was published connected Tuesday, BNB is present lone down 6.9% against the U.S. dollar. The inclination is the other of what starring cryptos similar BTC and ETH person done arsenic some coins accrued successful worth betwixt 5-7% higher connected Tuesday greeting (9 a.m. ET).

BNB statistic connected Dec. 13, 2022, astatine 9:00 a.m. (ET).

Despite the important losses this week, BNB has outperformed crypto assets similar BTC and ETH successful presumption of losses from the all-time highs posted past year. For instance, contempt BTC’s emergence today, the starring crypto plus is inactive down ​​74% from the all-time precocious (ATH) past year. Ethereum (ETH) is down 72% from past year’s ATH, but Binance’s BNB is lone down 60.8% since the crypto asset’s $686 per portion terms precocious printed connected May 10, 2021.

What bash you deliberation astir the speculation and rumors surrounding Binance? What bash you deliberation astir BNB’s caller marketplace show this week? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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