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Binance continues to expand: will the BNB price explode soon?

 


The largest crypto exchange Binance continues to work on its top position. After the registration in France, announcements about further sponsorship contracts with well-known clubs follow.


A few days ago it became known that Binance had registered in France as a “Virtual Assets Service Provider”. In the days that followed, it all happened in quick succession, as Changpeng Zhao summarizes:



Zhao is the CEO of Binance and mostly appears under the acronym “CZ”. The same CZ that also issued Elon Musk a “blank check” for 500 million US dollars a few days ago. “We heard from friends that Musk is looking for other investors to buy Twitter. Our interest was piqued immediately. He doesn't have a business plan – there were never any direct discussions about that,” says CZ. With a check of 500 million without a business plan, you could call the Binance CEO a fan of Elon Musk.


"After the investment, Elon will figure out what to do with the money."


However, Twitter is not the investment CZ spends its money on. Like the trading exchanges FTX or Crypto.com before it, Binance now also took on the marketing machinery in the sports sector. Binance is considered to be the official sponsor of the Argentina national football team for the next 5 years.


“For several years now we have been expanding globally and increasing our sales. This partnership with an innovative, multinational company validates this strategy.”


Claudio Tapia, President of the Argentine Football Organization, says he is extremely pleased with this partnership. But that's not all, Binance enters into another 3-year sponsorship with the Brazilian professional soccer league. Brazilians will see the company's name on advertisements from the four biggest Brazilian leagues in the future. The company will also be entrusted with issuing its own fan token. It is not yet clear when this will come.


Binance faces regulation in Europe – BNB still weak

First of all, it became known that Binance will conduct part of the business from France. Thus, the exchange is also subject to the French know-your-customer and money laundering regulations that apply to cryptocurrencies. According to the French regulator, Binance is in place to meet compliance requirements for its customers.


This is particularly important given the fact that the MiCa regulation will come into force in the EU next year. This allows crypto companies to acquire services across the EU under the supervision of a single member state. Thus, the crypto giant is free to operate in all European countries. Binance had already secured the operating license from the regulatory authorities in Dubai and Abu Dhabi in March and April.


Whether the BNB coin could explode soon is difficult to predict under the current market situation . Usually, crypto tokens pick up after a bunch of good news - unfortunately, given the current situation, that hasn't happened. What is good about it, however, is that Binance will in all likelihood soon be running its marketing campaigns worldwide and is already laying the foundation for this.


The token is prepared for the coming bull market. Since the all-time high exactly a year ago, the BNB coin is down a good 50% and is now at $320. CZ takes a humorous view of the bear market:

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