Post
Topic
Board Altcoin Discussion
Re: Binance owns 82.69% of BNB
by
blatchcorn
on 26/10/2021, 18:06:27 UTC
Probably it's just a cold wallet of the Binance exchange. But yeah, this coin is centralized as the name suggests.
I can understand if 82% of token resides in the exchange, because you can take part in various launchpad, staking, etc. and when the exchange got busted, the token will be rekt alongside it.

Anyway, I'd be more cautious of the recent warnings from various countries instead of this address centralization stuff.

I have no idea that how much BNB is held by Binance but yes its a centralized type of digital currency just like XRP and such coins must not be mixed with decentralized crypto currencies like BTC, ETH etc. Once you identify something as centralized then any manipulation can be done with that thing whether its BNB or USD.
Worrying part is that we must

should i be worried of this?

No you don't need to worry about that part. Understand the underlying ideology of every coin first. If its centralized then its 100% under one entity control .