What is BNB?
BNB (BNB) fact sheet with live price · reviewed November 4, 2026
BNB is the coin of BNB Chain, a blockchain created by the Binance exchange, and of the wider Binance ecosystem. It pays transaction fees on BNB Chain and gives discounts and perks on Binance. It started as "Binance Coin" in 2017.
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Key facts
| Launched | 2017 (initial coin offering) |
|---|---|
| Created by | Binance (founded by Changpeng Zhao) |
| How it's secured | BNB Chain validators (proof of staked authority) |
| Supply | Started at 200 million; burns have cut it below 140 million, toward a 100 million target |
| Block time | Under one second since mid-2025 upgrades |
| Used for | Network fees on BNB Chain; discounts and services on Binance |
Who runs it
BNB Chain is run by a limited set of validators elected by BNB staking, with development led by teams closely tied to Binance. Binance, the world's largest crypto exchange by trading volume, created BNB and still shapes its direction, so BNB is much more centralized than Bitcoin or Ethereum.
What it's used for
Paying fees on BNB Chain (an Ethereum-compatible network with low fees), trading-fee discounts on Binance, joining Binance token-sale and airdrop programs, and as collateral in BNB Chain apps.
How it works
Validators take turns producing blocks; users stake BNB with them. Every quarter, BNB is permanently destroyed ("burned") under a formula based on BNB's price and blocks produced, and part of every gas fee is also burned, steadily shrinking supply.
Binance and the law
In November 2023 Binance pleaded guilty in the US to anti-money-laundering and sanctions violations and agreed to pay about $4.3 billion; Changpeng Zhao pleaded guilty, stepped down as CEO and served four months in prison in 2024. President Trump pardoned him in October 2025.
Where things stand (November 2026)
Upgrades in 2025 cut BNB Chain's block time to under a second. BNB's fortunes remain tied to Binance's regulatory standing in each country.
Risks to know
- BNB's value is closely tied to one company, Binance, and its regulatory standing.
- BNB Chain has a relatively small set of validators, so it's more centralized than Bitcoin or Ethereum.
- Many low-quality and scam tokens launch on BNB Chain.
Buying and storing it
If you decide to buy, use a regulated exchange you reach directly, check fees with the true cost calculator, and store long-term holdings in a wallet you control, with the seed phrase written down offline. Read how to buy crypto safely. This page isn't a recommendation to buy.
Questions
Is BNB the same as Binance?
No. Binance is the exchange company; BNB is the coin it created, now the native coin of BNB Chain.
Is BNB Chain the same as Binance Smart Chain?
Yes. Binance Smart Chain (BSC) was renamed BNB Smart Chain in 2022, part of BNB Chain.
Do I need BNB to use BNB Chain?
Yes. Fees on BNB Chain are paid in BNB, so you need a little in your wallet to move tokens there.
Compare BNB
See it side by side, with live data: BNB vs. Ethereum. Track it in the private portfolio tracker.
Where to next
Sources
- BNB Chain documentation
- Binance and CEO plead guilty (US Department of Justice, 2023)
- Trump pardons Binance founder Changpeng Zhao (PBS)
- BNB Auto-Burn (bnbburn.info)
Facts checked against the sources listed, as of November 4, 2026. Live price data by CoinGecko. Educational only; not financial advice. How we write and check pages.