Binance Coin (BNB), the native cryptocurrency of the Binance ecosystem, has had a transformative year in 2024. Recently, Binance and its CEO, Changpeng Zhao, faced significant legal challenges, including a $4.3 billion settlement for money laundering charges. Despite these setbacks, Binance continues to operate and BNB remains a key player in the crypto world.
BNB is widely used for transaction fees, payments, and investment on the Binance exchange and Binance Smart Chain. It has grown substantially in value since its launch, trading at over $689 USD as of December 2024. Binance also continues its quarterly "burns," reducing supply to potentially increase scarcity.
Amid regulatory scrutiny, including a lawsuit from the U.S. SEC, Binance has made adjustments to its leadership and operations. Despite these challenges, BNB’s strong utility and market presence suggest it will remain a leading asset in the crypto space.