BNB price risks 40% drop as SEC launches probe against Binance

Cointelegraph

Published Jun 07, 2022 09:53AM ET

Updated Jun 07, 2022 11:40AM ET

Binance Coin (BNB) price dropped by nearly 7.3% on June 7 to below $275, its lowest level in three weeks.

What's more, BNB price could drop by another 25%-40% in 2022 as its parent firm, Binance, faces allegations of breaking securities rules and laundering billions of dollars in illicit funds for criminals.

BNB market capitalization was $45.42 billion as of June 7. Source: CoinMarketCap
BNB/USD weekly price chart. Source: TradingView

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