BNB Price Could Drop 40% Folllowing SEC’s Investigation

Jun 7, 2022

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BNB Price Could Drop 40% Folllowing SEC’s Investigation

Originally posted here.
By: Stephanie Bédard-Châteauneuf

Overview

On June 7, the price of Binance Coin (BNB) price fell 7.3% to drop below $275, hitting its lowest level in three weeks.

In addition, the price of BNB could fall another 25-40% in 2022 as its parent company, Binance, faces allegations of breaching securities rules and laundering billions of dollars in illicit funds for criminals.

Binance Is in Hot Water

In 2017, Binance raised $15 million in 16 days as part of an initial coin offering (ICO) during which it issued Binance coin (BNB) for $0.15 each to the public as an ERC-20 …

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