Blockchain

Binance has been accused of copying a product idea from Steemhunt

Cryptocurrency exchange Binance has recently been claimed to be engaged in intellectual theft by South Korean blockchain firm, Steemhunt. The blockchain firm claimed that Binance mimics its AI-based technology Chatcasso for developing its most acclaimed AI-based NFT platform Bicasso without getting permission, breaching Steemhunt’s intellectual property rights. 
Steemhunt further claimed that its team had unveiled it widely with huge promotions. Binance, on the other hand, had yet to respond to the allegations. However, the recent allegations have once again given reason for netizens to troll the leading cryptocurrency platform. In a response to the ongoing dispute, one of the Twitter users trolled Binance CEO changpeng zhao and posted a funny tweet.
 

“Keep building 🔨” – @cz_binance said.
What he DIDN’T say – “If you guys build it well, we’ll blatantly copy it and ship it as our product! 🤡”
Story of Binance stealing our project we won 1st place at the BNB Chain hackathon 👇🏻 https://t.co/ejc5Z7w9o1
— ggoma 🍌 (@0xggoma) March 2, 2023

What is the Impact of Accusation on BNB Value?
Binance is the leading crypto exchange and has been operating well in the market to date. However, the recent claims of intellectual theft against Binance develop fear in the minds of investors regarding its impact on the reputation and credibility of the firm and BNB’s value.
The market experts claimed that the recent accusation has had no bad impact on the BNB’s value as currently, the BNB is enjoying its position at $291.12. However, if the charges are proven true, BNB’s value may be declined in the future, as investors are expected to develop a distrust for the credibility of the exchange.
To combat these challenges Investors are told to be cautious and keep a close eye on future developments. It’s essential to learn that cryptocurrency investments involve risk, and it’s significant to do a complete investigation of the company before investing in any currency.
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