BNB: The Ever-Richer Suspect
Let's talk about BNB. This token is like the rich kid who likes to act recklessly on the road, gets pulled over multiple times, but somehow still manages to buy a new car every month.
Once, BNB was created with a simple intention: to give discounts to traders on Binance. Like an Alfamart membership card, the difference is that this one can increase its value by 2000%. But over time, BNB evolved. It is now a versatile token, used for paying gas fees on Binance Smart Chain, participating in IEOs, staking, and even topping up debit card balances. In short, it's multifunctional. If it were a person, it would have registered to be a member of the parliament, run for mayor, and open a trendy coffee shop all at the same time.
But behind all that, BNB has one secret hobby: being considered a security by the SEC.
Yes, since 2023, the SEC (Securities and Exchange Commission) of America has started to refer to BNB as an "unregistered security" — meaning a coin that is sold like a stock but without prior government approval. It’s like opening a circumcision clinic without a medical license. Still popular, but be prepared for it to be shut down.
So what is the impact?
Interestingly, there is almost none. Binance had a shaky moment, but investors kept coming in. BNB is still being used. In fact, Binance continues to run the token burn program, as if saying to the regulators: "We are not registering, but we are burning. Isn’t that enough?"
In this grand scheme, Binance seems to be a country of its own. They have an ecosystem: exchange, blockchain, DeFi, NFT, even their own crypto campus. And BNB is its official currency. So, when the SEC gets angry, BNB just smiles while sipping coffee in Bali.
The situation became more dramatic when CZ, the founder of Binance, eventually stepped down after being pursued by US regulators. But don't worry, like a Bollywood movie, the main character steps back, but the love story continues. Binance has a new CEO, operations are still running, and BNB? Still healthy, albeit a bit anxious every time America coughs.
So, why do people still like BNB?
Because BNB is like a handsome, rich, toxic ex with connections. We know he can cause trouble, but we are still tempted. Low fees, a vast ecosystem, and still regularly gives rewards. Other tokens might sleep under the bridge, but BNB? He has an apartment on 3 chains: BSC, Ethereum (wrapped), and any hype layer 2.
And don't forget one thing: all major crypto projects have been considered illegal at some point. But those that survive? They only get stronger. BNB is the most luxurious example of survival in crypto: battered by regulations, shaken by the media, abandoned by its founders, yet still exists and even gains prestige.
BNB is like a startup that throws a party every week, asked for a financial audit, but the answer is: 'Don't worry bro, we burn tokens every quarter.'
![]()
