-The Binance Coin exchange rate has soared above th
e $700 mark for the first time in history.The native token of the world's largest cryptocurrency exchange was somewhat missed during the bull run in 2024, but ended up being one of the best performers, reaching a new all-time high of over $BTC Its market capitalization also exceeds 1,000 billion yen, surpassing the likes of UBS, Dell and Starbucks.
#Binance has filed lawsuits in several jurisdictions, the latest being an active standoff with Nigerian authorities. Local executives of the company have been detained and the company is trying to get them released, but so far it hasn't worked.
But the biggest blow to Binance came late last year, when the exchange agreed to pay $4.3 billion as part of a settlement with the U. S. Department of Justice without admitting guilt for failing to comply with relevant anti-money laundering rules.
In addition, founder and then CEO Changpeng Zhao was forced to resign, was later convicted and spent several months in a U. S. prison.
Amid these regulatory issues, #Binance Coin continued to fluctuate and failed to take the lead as #BTC surpassed its all-time high of 3 percent in May 2021, or as ETH did weeks before the U. S. Securities and Exchange Commission approved the #StartInvestingInCrypto spot Etf.
Furthermore, the focus was far from #StartInvestingInCrypto , as the current bullish trend is dominated by old and new meme coins.
However, things have started to change over the past 24 hours, with the fourth largest cryptocurrency soaring from today's $100 to today's $625, hitting new all-time highs in the market at nearly $BTC Despite the slight downturn since then, BNB is still above $7,700 and its market value is approaching 11,100 billion.
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