Binance burns $24 million worth of BNB tokens allocated to team

Top cryptocurrency exchange Binance has just completed an eighth quarterly burn of its native token Binance Coin (BNB), according to a blog post on Friday.

The burn involves 808,888 BNB tokens (worth nearly $23.8 million) allocated to the Binance team. The team was allocated 40% of the total BNB original supply (i.e. 80 million tokens, worth about $4.2 billion), all of which will eventually be burned.

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