{"id":15431,"date":"2022-12-13T18:36:32","date_gmt":"2022-12-13T18:36:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/amid-speculation-and-rumors-surrounding-binance-exchange-token-bnb-suffers-losses-from-the-alleged-fud-market-updates-bitcoin-news\/"},"modified":"2022-12-13T18:36:32","modified_gmt":"2022-12-13T18:36:32","slug":"amid-speculation-and-rumors-surrounding-binance-exchange-token-bnb-suffers-losses-from-the-alleged-fud-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/amid-speculation-and-rumors-surrounding-binance-exchange-token-bnb-suffers-losses-from-the-alleged-fud-market-updates-bitcoin-news\/","title":{"rendered":"Amid Speculation and Rumors Surrounding Binance, Exchange Token BNB Suffers Losses From the Alleged FUD \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Following the FTX collapse, the largest cryptocurrency exchange by trade volume, Binance, has been surrounded by rumors and speculation in recent times. On Dec. 12, 2022, Reuters reported that U.S. Department of Justice prosecutors have been investigating Binance, according to four people familiar with the matter. Moreover, while a number of crypto assets have risen in value this past week, Binance\u2019s exchange token has slid roughly 6.9% against the U.S. dollar over the last seven days.<\/strong><\/p>\n

Binance\u2019s BNB<\/a> Takes a Hit from the Speculation Surrounding the World\u2019s Largest Crypto Exchange<\/h2>\n

This week, Binance is dealing with a lot of rumors, speculation, and FUD (fear, uncertainty, and doubt) following the aftermath of the recent FTX collapse. Across social media, there\u2019s been speculation concerning Binance\u2019s proof-of-reserves (POR) and criticism<\/a> against the company\u2019s POR efforts.<\/p>\n

\"Amid
In a Dec. 13 Twitter post, Binance CEO Changpeng Zhao (CZ) retweeted a post from 2019 that says he seeks and provides positive energy. \u201cI block negativity\/annoyance, I be myself, a normal guy, nothing fancy, [and] I interact with our supportive community,\u201d CZ wrote on Twitter on March 16, 2019.<\/figcaption><\/figure>\n

On Dec. 13, Changpeng Zhao, commonly known as CZ, addressed<\/a> the FUD on Twitter. \u201cFUD helps us grow, even though they are thoroughly annoying,\u201d CZ tweeted. \u201cYou can FUD about someone without explicitly mentioning their name, which spreads awareness. It also helps unite their supporters because it forms a common defense alliance.\u201d<\/p>\n

CZ insisted<\/a> that since day one, Binance was relentlessly targeted with FUD \u2014 some of which was allegedly sponsored by a large exchange. \u201cSince then, there has hardly been a week going by without some FUD. We learned the ability to ignore them and keep building,\u201d CZ added in his Twitter thread.<\/p>\n

\"Amid<\/p>\n

CZ\u2019s commentary follows the Reuters report<\/a> published on Dec. 12, which claims the U.S. Department of Justice (DOJ) has been investigating Binance. Reuters reported on Monday that four people familiar with the matter explained that DOJ prosecutors are at odds about the alleged investigation. The reported split between DOJ prosecutors is \u201cdelaying the conclusion of a long-running criminal investigation<\/a>\u201d into Binance, Reuters reporter Angus Berwick wrote.<\/p>\n

Meanwhile, Binance\u2019s exchange token BNB<\/a> has taken a big hit from the speculation and FUD surrounding the world\u2019s largest crypto exchange. The crypto exchange token BNB<\/a> has lost 8.5% in value during the last two weeks.<\/p>\n

Seven-day stats show BNB<\/a> shed more than 8% against the greenback but since the recent U.S. inflation data was published on Tuesday, BNB<\/a> is now only down 6.9% against the U.S. dollar. The trend is the opposite of what leading cryptos like BTC<\/a> and ETH<\/a> have done as both coins increased in value between 5-7% higher on Tuesday morning (9 a.m. ET).<\/p>\n

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BNB<\/a> statistics on Dec. 13, 2022, at 9:00 a.m. (ET).<\/figcaption><\/figure>\n

Despite the significant losses this week, BNB<\/a> has outperformed crypto assets like BTC<\/a> and ETH<\/a> in terms of losses from the all-time highs posted last year. For instance, despite BTC<\/a>\u2019s rise today, the leading crypto asset is still down \u200b\u200b74% from the all-time high (ATH) last year. Ethereum (ETH<\/a>) is down 72% from last year\u2019s ATH, but Binance\u2019s BNB<\/a> is only down 60.8% since the crypto asset\u2019s $686 per unit price high printed on May 10, 2021.<\/p>\n

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\nTags in this story
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Allegations<\/a>, Binance CEO<\/a>, bnb<\/a>, BNB Market Value<\/a>, BNB Markets<\/a>, BNB Price<\/a>, BNB Token<\/a>, Changpeng Zhao<\/a>, CZ<\/a>, CZ Tweets<\/a>, department of justice<\/a>, DOJ Investigation<\/a>, FTX collapse<\/a>, FUD<\/a>, FUD surrounding Binance<\/a>, Market Update<\/a>, PoR<\/a>, POR critique<\/a>, Proof of Reserves<\/a>, Reuters<\/a>, rumors<\/a>, Speculation<\/a><\/div>\n<\/div>\n

What do you think about the speculation and rumors surrounding Binance? What do you think about BNB<\/a>\u2019s recent market performance this week? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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