Binance’s Token Approaches More Than Year Low as Pressure Mounts

BNB, the cryptocurrency at the heart of the Binance exchange ecosystem, is approaching its lowest price level in more than a year as controversy swirls around the world’s largest digital-asset trading platform.

The token dropped as much as 3.6% to $203.59 on Tuesday, bringing its loss for the year to around 15%. The decline comes even with crypto bellwether Bitcoin, which accounts for about half the $1 trillion market’s value, rallying more than 50% since December. BNB has a market capitalization of around $32 billion, making it the fourth-largest crypto asset.

BNB holders get trading-fee discounts …