Binance Coin (BNB) was added for margin trading on Binance on July 18 of this year. Although the CEO of the exchange, Changpeng Zhao (CZ), warned users not to short it, they would have been better off counter-trading his advice.
Once a safe haven during the bear market of 2018, Binance Coin (BNB) has had a spectacular fall in the second half of 2019. For comparison, in June of this year, the exchange’s cryptocurrency was trading well above $30 for the entire month. Since then, it has more than halved in value. It is currently trading at $12.95, at the time of writing.
However, this is counter to what we would’ve expected had we listened to Binance’s own CEO, Changpeng Zhao (CZ). On July 18, 2019, Binance officially announced it would officially be offering BNB for margin trading. In a follow-up tweet, CZ praised the development and recommended that users don’t short BNB or else they will get “REKT.”
At the time, he received some criticism for trying to influence the market price. However, it’s now clear that, had traders actually shorted BNB, they would have been rewarded quite nicely.


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