Binance CEO Pleads Guilty to Money Laundering, Rival Exchange Tokens Surge

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BNB’s rival exchange tokens have experienced a positive response following the news of Binance’s CEO pleading guilty to breaking anti-money laundering laws. According to crypto data provider Messari, four out of the top six exchange tokens, excluding BNB, saw an increase in value. FTT, the native token of FTX exchange, rallied by 16%, while OKX’s OKB coin jumped 2.4%. THORChain’s RUNE price rose by 5.5%, dYdX’s same-name coin increased by over 4.6%, and Uniswap’s UNI token saw a slight rise of 0.5%. Despite Binance’s assurance of solid fundamentals, the drop in BNB coin value by 15% and the outflow of $1.2 billion from the exchange caused concern among users. In contrast, rival exchanges such as OKX, Kraken, Bybit, and crypto.com experienced substantial inflows.

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