Finst

BNB whale gets paid US$2.3 million

The BNB share price fell sharply after the lawsuit from the SEC.

By Finst News
• 3 min read
BNB whale, gets paid US$2.3 million

The BNB share price fell sharply after the lawsuit from the SEC. Some large investors are withdrawing their investments and selling the Binance token.

After two years of showing no activity, a whale address has sold BNB tokens worth US$2.3 million. The BNB is the native token of the crypto exchange Binance. On-chain analysts at Lookonchain View post on X June 12. In the process, the holder sold 10,000 BNB at a price of US$230.

The wallet address still contains 15,000 BNB.

The investor was able to build the asset by 2021, Lookonchain reports. At that time, he exchanged 10 BNB for a whole 100 trillion SafeMoon tokens. He exchanged these back into BNB after a price explosion and received 110,000 BNB that were worth US$47.5 million at the time.

The token sale came a week after the U.S. Securities and Exchange Commission (SEC) sued crypto exchange Binance. Investors have since been alarmed. As a result, the price of Binance tokens fell sharply after the lawsuit, trading at US$247 per coin.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.