BNB, the stablecoin of the Binance exchange, has fallen to its lowest level in more than a year as regulatory crackdowns on the crypto industry continue.
The BNP stablecoin fell by 3.6% to $203.59 during trading today, bringing its loss for this year to about 15%, according to Bloomberg.
The market capitalization of the Binance stablecoin is around $32 billion, making it the fourth largest cryptocurrency asset.
Assets held on Binance fell by more than $310 million over the past 24 hours, to $57.57 billion, according to data tracker DeFi Llama.
The crypto exchange is facing challenges with payment service providers, following continued regulatory campaigns, as Checkout.com has stopped supporting the crypto platform.
