BNB price

Binance’s CEO Changpeng Zhao, more commonly known as CZ, has come under a lot of scrutiny now that it appears SBF will be spending a significant amount of time in prison. This has reflected in the BNB price which, although one of the strongest performers thus far in the bear market, has now started to decline to the downside.

There has been a lot of speculation that the price of BNB could fall significantly lower.

BNB price falters as Binance faces more scrutiny

With the meltdown of FTX, many exchanges have been scrambling to show their proof of reserves and to take on full audits in order to reassure their creditors.

Many firms and individuals who did not want to take the risk of trusting custodians decided to withdraw from Binance, and over the course of the last week billions of dollars has been withdrawn.

CZ claims that the exchange has no liabilities to speak of, and that assets are all completely backed 1:1 because he doesn’t believe it is responsible for companies to ever take out leverage.

Although Binance has managed to successfully process all withdrawals thus far, and the concern could end up solely amounting to FUD, the BNB price has still taken a beating and declined to below $250.

There are many who believe that sustained scrutiny of Binance could drive the value of BNB down much further.

The “move to earn” trend continues to grow

Despite the challenges that the rest of the crypto market has been facing, variations on the play to earn trend have continued to gain popularity.

In particular, the “move to earn” trend has continued to grow, with many projects such as Stepn gaining a large degree of traction.

“Move to earn” rewards users for the time that they spend exercising, meaning that people can be incentivised to lead a healthier life.

FightOut has a range of strong brand ambassadors

The tem at FightOut have been working diligently to sign as many brand ambassadors as possible by leveraging their networks in the sports industry.

Notably, they have managed to onboard figures from the world of martial arts such as the boxer Savannah Marshall and MMA fighters Amanda Ribas and Taila Santos.

These partnerships are surely a sign of things to come, and ought to be able to accelerate the FightOut brand.

FightOut has now raised $2.2m with their FGHT token

FightOut is one of the main “move to earn” projects that has been turning heads over the course of the last few weeks, and the team has managed to successfully raise $2.2m already.

Those who wish to participate in the presale can now do so on their website, where it is live.

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