Binance Rebrands Its Blockchain in Overture to Decentralization
Cryptocurrency exchange Binance has rebranded the blockchain powering its platform in a bid to emphasize decentralization. In the move, Binance’s CEO Changpeng Zhao said in a webinar Tuesday that Binance Smart Chain (BSC) is now BNB Chain. “People always think of Binance Smart Chain, because it carries the Binance word, as something owned by Binance,” Zhao said. “We’ve done a lot of work to decentralize it, and we also realize BNB is beyond Binance. It’s bigger than Binance…BNB is its own living, breathing ecosystem with the BNB Chain.” Meanwhile, the SEC is examining the relationship between Binance’s US arm and two trading firms, Sigma Chain AG and Merit Peak Ltd., that have ties to Zhao, people familiar with the probe told The Wall Street Journal.