Changpeng Zhao (CZ), co-founder of Binance, announced the completion of the 31st quarterly BNB token burn, where a total of 1.57 million BNB – valued at approximately $916 million – was permanently removed from circulation.


This burn is part of BNB Smart Chain's ongoing deflationary policy, aimed at gradually reducing the total supply to 100 million BNB. The process was carried out through the BEP95 auto-burn mechanism, which calculates the amount to be burned based on market price and the number of blocks produced during the quarter.


CZ confirmed the update with a brief post on X (formerly Twitter), stating:


"$916,000,000 BNB burned."


The tokens were sent to the designated burn address, making them unrecoverable and permanently lowering the circulating supply.


Despite the significant move, market response was lukewarm. BNB’s price dropped 2.11% over the past 24 hours, hovering around $578 at the time of writing.


Community reaction was mixed. While some praised the deflationary step, others questioned the usefulness of such a large burn instead of investing in marketing or development. CZ clarified that the burn was a promise outlined in the project’s whitepaper, saying:


"A promise is a promise."


Others pointed out that the lack of price reaction shows market fatigue and diminishing short-term impact of burn events.


Meanwhile, the BNB chain continues to use a real-time burn model, which permanently removes a portion of gas fees from circulation. Over 259,000 BNB have been burned through this mechanism so far. The BNB Pioneer initiative also continues to compensate users for accidental token losses using quarterly burns.


Notably, CZ holds 98.6% of his crypto portfolio in BNB, reinforcing his long-term commitment to the token. BNB remains central to the BNB Smart Chain ecosystem and its layers, including opBNB and BNB Greenfield.