What is BNB?
BNB is the utility token of Binance, the world’s largest crypto exchange by trading , according to CoinMarketCap. Founded in China in 2017 by Changpeng “” Zhao, Binance remains privately held.
Zhao reportedly retains around 86 percent of the exchange, according to Bloomberg’s billionaire index, which still ranks him among the world’s 30 richest people. On 6 October he disputed those figures on X, writing “I don't belive [sic] this is accurate (way too high). I also don't think it matters. What matters is how many people we can help, and by how much.”
In February 2025, Zhao said roughly 98 percent of his crypto holdings were in BNB, a level of concentration that ties his net worth, and much of Binance’s credibility, directly to the token’s fortunes.
BNB runs on the BNB Chain and works under a Proof-of-Stake mechanism similar to ’s. The chain buys back and BNB coins using revenue from Binance operations, a model designed to reduce supply and support long-term value.
Regulatory shadow
Binance’s rise has not come without scrutiny. The exchange pleaded guilty in 2023 to violating the Bank Secrecy Act and failing to comply with standards. Zhao served a four-month prison sentence and stepped down as CEO.
He remains a central figure in crypto discourse, regularly commenting on market issues and Binance initiatives on X. Observers say Zhao is quietly hoping for a US presidential pardon if political winds shift, though neither he nor Binance has confirmed any such expectation.
The exchange is now led by Richard Teng, formerly of the Monetary Authority of Singapore, the Singapore Exchange, and the Abu Dhabi Global Market, who is based in Dubai.
Despite its regulatory setbacks, Binance’s activity has expanded sharply.
Blockchain activity
BNB Chain has recently overtaken and NEAR Protocol in monthly active , becoming the world’s most-used .
The increase in activity followed strong price performance: BNB was already up 23 percent year-to-date before the surge, then added another 35 percent over the following month. The move coincided with a broader crypto market rally, which lifted total market capitalization by more than 10 percent amid US fiscal uncertainty and speculation of another interest-rate cut.
Partnership with Chainlink
On 6 October Binance announced a partnership with to bring official US economic data , including and inflation proxies. The data, supplied by the Department of Commerce via Chainlink and Pyth, will be accessible to BNB chain developers for building financial applications.
Chainlink said on X that its feeds deliver macroeconomic data directly from the Bureau of Economic Analysis to the BNB Chain. BNB itself added that the integration “opens the door for innovative applications and strengthens the between traditional markets and .”
The announcement sent BNB up 16 percent to an all-time high of $1,335, with the value of the daily volume traded reaching $124.5 billion on 7 Oct on Binance, the highest since December 2024.
The bigger picture
BNB’s momentum underscores how Binance has rebuilt credibility since its legal reckoning. Yet the same centralization that fuels its dominance – one exchange, one founder, one token – remains its largest vulnerability.
As Binance extends its reach from consumer trading to government data pipelines, BNB’s climb to fourth place signals both recovery and risk: the stronger Binance becomes, the harder it is to separate regulation from relevance in crypto.
