Binance News: Cryptocurrency Whale Suffers Major Loss as $ACT Token Crashes, VanEck Prepares to Launch BNB ETF

Cryptocurrency Whale Faces $2.17 Million Loss After $ACT Token Crash

A cryptocurrency whale lost $2.17 million after the $ACT token’s value dropped from $2.49 million to $320K. The token’s price plunged 62% within 24 hours, resulting in $120 million in trading volume and $3.79 million in liquidations affecting 113,712 traders. The whale had withdrawn 4.58 million $ACT tokens from Binance four months earlier.

VanEck on Track to Launch First-Ever BNB ETF

VanEck has made a move to expand its digital asset footprint by filing to establish a trust for the first-ever exchange-traded fund that will track the price of Binance Coin, the fifth largest cryptocurrency by market cap. On March 31, asset manager VanEck, a pioneer in filing for crypto investment products, filed to establish a trust entity for the first-ever Binance Coin (BNB) ETF in Delaware. This move marks the first step in the ETF launch process, typically preceding a formal application with the U.S. Securities and Exchange Commission. If approved, it would mark the first-ever BNB ETF in the U.S., though similar BNB-related investment products are already available in global markets.