Binance launches BNB auto-burn protocol to replace quarterly burn

Cryptocurrency exchange Binance introduces a new BNB Auto-Burn procedure to replace the quarterly burn, according to a release. The new protocol will be both objective and verifiable, independent of revenues on the Binance CEX through the use of Binance Coin (BNB-USD), and will automatically adjust as the burn amount will be based on the price of BNB. The change will provide the Binance community with more "transparency and predictability," the release says. Binance's second burning protocol includes the real-time burning of a percentage of gas fees on the Binance Smart Chain. Meanwhile, binance coin (BNB-USD -1.0%) is trading slightly lower intra-day, and down nearly 5% M/M. Earlier in December, Binance withdrew an application to run an exchange in Singapore.