Binance Coin Whale Awakens After 2-Year Hiatus, Cashes Out $2.3M Profits After SEC Classifies BNB As A 'Security'
Portfolio Pulse from Mehab Qureshi
A Binance Coin (BNB) whale has sold 10,000 BNB tokens at $230 each, earning $2.3 million in profits after a 2-year hiatus. The sale comes amid regulatory scrutiny of Binance and the SEC classifying BNB as a security.
June 13, 2023 | 10:48 am
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A Binance Coin whale sold 10,000 BNB tokens, earning $2.3 million in profits. The sale comes amid regulatory scrutiny and BNB being classified as a security by the SEC.
The sale of 10,000 BNB tokens by a whale indicates a potential lack of confidence in the asset due to the ongoing regulatory scrutiny by the SEC. The classification of BNB as a security may lead to further regulatory actions, which could negatively impact the price of BNB in the short term.
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