Binance ICO Raised Far Less Than Claimed, Controlled Vast Majority of BNB Tokens: Report

Binance's 2017 ICO raised under $5 million, not the $15 million claimed, based on blockchain analysis showing only 10.8 million tokens sold.

Binance ended up controlling 145 million of 200 million total BNB tokens due to the ICO shortfall.

Forensic analysis shows Binance currently controls 117 million BNB tokens worth $27 billion.

Binance allegedly used BNB for wash trading and propping up its price according to SEC lawsuit.

BNB token has been critical to Binance's rise, used for investments, trading incentives and burning to boost price.