- The Binance team has never sold any BNB from the team allocation
- This is despite their Binance Coin (BNB) being unlocked
- The funds are now valued at approximately $2.192 Billion
- The funds can be view via publicly viewable addresses on the Binance Chain
- Such commitment is proof that the team is in it for the long haul
The CEO of Binance, Changpeng Zhao, has notified the crypto community that the Binance team has never sold a single BNB from the amount allocated during the project’s ICO phase in 2017. CZ went on to explain that the funds were actually unfrozen and transferred to publicly viewable addresses on the Binance chain. The team funds have never moved since other than during the quarterly coin burn.
CZ shared this information via the following statement on Twitter.
In case if you wondering, Binance team has never sold a single #BNB from the Team Allocation ever.
There were unfrozen, and transferred to publicly viewable addresses, never moved beyond that, other than being burned.
He also shared the following 4 addresses of the team funds on the Binance Smart Chain.
Such Team Commitment is One Reason to Be Bullish on Binance Coin
Further doing the math, the four Binance Chain addresses shared by CZ hold roughly 53.47 Million BNB worth approximately $2.192 Billion. This is using the whole number value of BNB at the current level of $41. Taking two steps back and checking the amount reveals that this is a huge sum that has not been touched by the team at Binance.
The ability of the team to keep holding means that they are in it for the long haul and are committed to the vision of Binance. This commitment was also showcased by the announcement of the accelerated BNB coin burn program that would reduce the total supply of BNB to 100 Million in 5 to 8 years.
Such fundamentals are also reasons that Binance Coin holders are optimistic on the long term value of the coin. This can be seen in the following screenshot of a tweet by a BNB hodler.