Exchange-issued token. This coin was created by, and remains closely tied to, a specific company rather than a fully decentralised network. Its value depends heavily on that company's continued operation and regulatory standing, not just on broader market demand. Do your own research on the issuer as well as the token before deciding to hold or trade it.
Binance Coin (BNB) is a cryptocurrency created by the global crypto platform Binance. It is mainly used within Binance’s own blockchain ecosystem and related services.
BNB is the native coin of the BNB Chain, where it’s used to pay transaction fees and interact with other crypto network applications, such as sending crypto or using smart contracts. Originally, BNB was launched on the Ethereum blockchain, before moving to Binance’s own blockchain. It plays a central role in keeping the network running and is also used on some Binance services, including paying certain trading fees and unlocking specific platform features, making interacting with the Binance ecosystem cheaper, faster, and more convenient.
Who created Binance Coin (BNB)?
BNB was created by Binance, a cryptocurrency exchange founded in 2017 by Changpeng Zhao. The cryptocurrency was introduced during Binance’s early growth phase to support exchange activity. As Binance developed its own blockchain network, BNB became integrated into the BNB Chain and took on a broader technical role within the ecosystem.
Why does Binance Coin (BNB) matter?
It is required for the operation of the BNB Chain and for interacting with applications built on that network. Without BNB, users cannot process transactions or use smart contracts on the chain.
Its relevance is tied to the continued use of the BNB Chain and Binance’s platforms, rather than to widespread use as a standalone currency. It’s why many investors buy BNB as a way to gain exposure to the growth of the BNB Chain and the activity built on it, rather than to the Binance company itself.
Security incidents
BSC Token Hub bridge exploit (6 October 2022)
An attacker exploited a proof-verification bug in BSC Token Hub, the native cross-chain bridge between BNB Beacon Chain and BNB Smart Chain, forging a Merkle proof to mint 2,000,000 BNB out of thin air, worth roughly $566–570 million at the time. Only a portion, reported between roughly $100–137 million, actually made it off-chain before validators were contacted individually and coordinated to halt block production across the entire chain, freezing the rest. BNB Chain has stated the loss fell on the chain itself rather than on user balances, since the BNB involved was newly minted rather than taken from holders. The exploited bridge has since been retired through BNB Chain Fusion, and a separate bridge-verification weakness was closed under the August 2026 Pasteur upgrade (BEP-682). No incident of this kind has recurred since 2022. Source: Halborn, Nansen
The above may not be an exhaustive list of incidents. As always, it's important that you do your own research to ensure you're comfortable with an asset's associated risks before investing in it.
Third-party security audits
CertiK has directly audited the BNB token contract (BNB.sol) on BNB Smart Chain, with the most recent of two available reports delivered on 17 July 2023 using manual review and static analysis. That audit raised 9 findings in total, none critical or medium severity, one major finding relating to centralisation and privilege risk (acknowledged by the team), and the rest minor or informational issues around coding style. CertiK's tracker also confirms a third-party bug bounty programme is in place, though it isn't run by CertiK itself. No separate penetration-testing report or SOC 2 report specific to BNB Chain, opBNB, or the remaining bridge infrastructure has been publicly located. Source: CertiK Skynet
Token supply and concentration
BNB has no ongoing issuance, so its supply only ever falls. It has declined from 200 million at its 2017 token sale to roughly 133.17 million as of the 36th quarterly burn on 15 July 2026, through three mechanisms: a price-linked quarterly Auto-Burn, a real-time burn tied to gas fees (BEP-95), and a small Pioneer Burn that offsets provably lost tokens. The quarterly programme is designed to continue until total supply reaches 100 million, which public estimates place around 2027–2028, though the pace depends on price and network activity.
Visit BscScan or CertiK Skynet to see the distribution among BNB's top token holders.
Tip
Keen to learn more about Binance Coin? Learn more about what makes BNB unique and read all of the latest cryptocurrency news on Luno Discover.
Want to know how to buy, sell, send and receive BNB? We’ve got answers in these help articles:
This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.