Know Why Binance’s native BNB token falls to lowest since July.
By The Exchange Team
After more than a month since the collapse of FTX, investor concern over the crypto exchange Binance has not faded.
Binance's native token, BNB, has dropped 15% in the last week, with a drop of more than 6% in the last 24 hours.
With a market cap of $39 billion, BNB, coined in 2017, is the fifth most valuable cryptocurrency.
It is only second to bitcoin, ethereum, tether, and USD Coin.
FTX's bankruptcy is Binance's latest concern. Binance was FTX's first outside investment.
Binance received a payment of approximately $2.1 billion when it sold its equity stake in the company last year.
Crypto investors have grown wary of comments from top executives about their companies' financial health.