Arrington Announce Binance Employees Prefer BNB Token Salary
According to recent updates, Michael Arrington, the founder of TechCrunch, has stated that ninety percent of employees at Binance are paid with the platform’s native token, BNB.
The leading exchange’s Chief Executive Officer, Changpeng Zhao reportedly shared this information with Arrington while attending the latest Lichtenstein Cryptoassed Exchange event. In addition, the digital currency exchange collaborated with LCX in hopes of providing a solution for the direct exchange of fiat to crypto in the region.
Arrington also explained that in his opinion, the majority of Binance employees are in fact smart to accept their salaries in the form of BNB tokens. This falls in line with his affiliation and high hopes for the currency, and the Binance platform in general.
Strategy for Success
Since the initial ICO held by Binance, holders are offered significantly reduced prices for general fees associated with the platform. As part of the company’s success strategy, twenty percent of all profits are directly used to repurchase tokens to be destroyed quarterly. This strategy is set to continue until fifty percent of the total 200M overall supply has been repurchased.
This foresight allows for the reduction of BNB in circulation, which in turn helps raise the value of the token itself, feeding into the supply and demand. In addition, the exchange boosted rewards for referrals to a whopping forty percent commision for traders owning over five hundred tokens.
Binance’s tokens will soon be utilized on the exchange’s DEX and lending platform called Nexo launching soon. With great collaborations and investment strategies, BNB is on its way to counteracting any influence linked to a bearish trend.
The Future of BNB
According to Fundstrat Global Advisors newly launched crypto report entitled Benchmark Crypto Performance, BNB was marked as first place among reviewed digital currencies. Binance as an exchange currently ranks first according to transaction volumes having already traded cryptocurrencies worth more than a billion US dollars over the past twenty-four hours alone.
In response, Arrington released a Tweet describing Zhao as a business titan and stands among the best in history. He also announced the release of a detailed post regarding Binance’s CEO later this week. Responding to this rush in spotlight, Zhao stated that the exchange plans to boost the liquidity of their token for traders, providing the conversion of fiat assets to crypto with a collaboration of an exchange based in Malta within 2018. In return, he aims to reserve Binance for a purely crypto-based trading network.
Currently, the token trades for $9.94 dollars with a 3% dip this last twenty-four hours.