Main TakeawaysGet up to $66 in BNB from two Simple Earn promotions for new and existing Binance Earn users.Deposit into Auto-Invest, dollar cost average into 200+ cryptos, and win up to $600 in TUSD. Eligible Dual Investment and Range Bound users will be able to share a reward pool of 266 BNB or 6,666 USDT in token vouchers. Don’t miss out on our range of Binance Earn promotions and activities for Binance’s sixth anniversary, with over $175,000 of rewards to be won.To celebrate Binance’s sixth anniversary, Binance Earn is delighted to announce a series of activities for the next few weeks. Eligible users who participate will be able to share plenty of rewards, so make sure you don’t miss out on your opportunity to join the fun.Whether you’re searching for passive income, want to purchase crypto regularly via dollar-cost averaging, or use more advanced strategies, Binance Earn offers a way to satisfy your needs! Don’t miss out on these activities with our handy guide to all our giveaways and challenges.Keep Saving With Simple Earn to Get Up to $66 in BNB VouchersWith our Simple Earn promotion, all Simple Earn Locked Product users can get up to $66 in BNB token vouchers. This promotion is open to all users who confirm their participation and subscribe at least $50 equivalent to any Simple Earn Locked Product during the activity period. Activity Period: 2023-07-10 12:00 (UTC) to 2023-07-31 12:00 (UTC)New Simple Earn Locked users can also participate in a time-limited Locked Product offering. This promotion is open to users who have not engaged in Binance Simple Earn Locked Products before 2023-07-10 12:00 (UTC).Activity Period: 2023-07-10 12:00 (UTC) to 2023-07-23 12:00 (UTC)Keep Growing With Auto-Invest to Receive Up to $600 Auto-Invest Plans Auto-Invest allows users to set up scheduled crypto purchases and automatically deposit their purchased crypto into their Simple Earn Flexible Products account. Participants in this promotion will have a chance to win up to $600 in TUSD.  This activity is applicable to all new & existing users who:Confirm their registration (via opt-in).Subscribe at least $25 in crypto to any new Auto-Invest plan (e.g., a Single Token Plan, Portfolio Plan, or Index-Linked Plan).Meeting both these criteria during the promotion period will qualify you for a chance to win up to $600 in TUSD.Activity Period:  2023-07-10 11:00 (UTC) to 2023-08-06 23:59 (UTC)Keep Challenging With Dual Investment & Range BoundFirst, let’s take a quick look at what Dual Investment and Range Bound products have to offer Binance Earn users.Dual Investment can help users diversify their investment portfolios and benefit from different market conditions. It gives users the opportunity to buy or sell cryptocurrency at a desired price and date in the future while having a chance to earn higher rewards.Range Bound presents the opportunity to potentially earn increased rewards during periods of low market volatility when an asset’s price moves sideways. Users can earn higher rewards if the chosen digital asset’s price remains within the specified price range throughout the entire subscription period.Promotion ATo celebrate Binance’s sixth anniversary, Binance Earn is thrilled to announce a promotion for Dual Investment and Range Bound products with a reward pool of 266 BNB. This promotion is available for all new and existing users who:Confirm their registration (via opt-in). Subscribe to Dual Investment or Range Bound products during the promotional period with a minimum investment amount of 500,000 USDT. Activity Period: 2023-07-10 11:00 (UTC) to 2023-08-01 23:59 (UTC)Promotion BWe have another offer of 6,666 USDT in rewards from the Binance Earn team! This promotion is available for new and existing users who:Confirm their registration (via opt-in).Subscribe to at least two Dual Investment or Range Bound products. Meeting both these criteria will earn the first 1111 eligible participants 6 USDT in Spot token vouchers each.Activity Period: 2023-07-10 00:00 (UTC) to 2023-08-01 23:59 (UTC)Join Us for Seven Days of Activities and Fun This Binance Earn WeekOur promotions aren’t the only way to celebrate Binance’s sixth anniversary. We’ve also got seven days of activities and events lined up for Binance Earn Week. Starting on July 3, you can join us and learn how Binance Earn can help you start earning with your crypto. We hope to see you at Binance Earn Week soon!Further ReadingBinance Earn Week Is Here! Get Ready for Seven Days of Learning and EarningBinance Earn Auto-Invest 3.0: Learn More About Its New Features Binance Earn’s Commitment to Building a Trusted Platform

Main TakeawaysHaving secured a permanent license by Kazakhstan’s AIFC Financial Services Authority (AFSA) last year, Binance is now launching a local digital asset platform in the country.The new platform will offer Kazakhstani users exchange and conversion services, deposit and withdrawal of fiat, and custody of crypto assets. The suite of services and number of assets available for trading will expand going forward.Binance continues to productively engage with Kazakhstan’s regulators to advance the country’s crypto industry and contribute to the development of a robust regulatory framework for digital assets.Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider, has announced the launch of a local digital asset platform in Kazakhstan. The move follows Binance securing a license from the AIFC Financial Services Authority (AFSA) to manage a digital asset platform and provide custodial services at the Astana International Financial Center (AIFC) in October last year.The permanent license also gives Binance the status of a regulated platform in Kazakhstan, testifying to its robust compliance and security controls. The new exchange will be authorized to offer exchange and conversion services, deposit and withdrawal of fiat currencies, custody of crypto assets, and exchange trading.With Regulators on BoardThe launch of the new platform was announced at a press event on June 20, 2023, in the presence of government officials, representatives of Kazakhstan’s banking industry, and Binance Kazakhstan leadership. According to Asset Turysov, Vice Minister of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the government is running a special initiative to facilitate the interaction between the AIFC, cryptocurrency exchanges, and second-tier banks. The National Bank of Kazakhstan, the Financial Monitoring Agency of the Republic of Kazakhstan, as well as the Agency for Regulation and Development of the Financial Market all take part in this project, which has already shown excellent results.Turysov said: “Over the past year, regulators in Kazakhstan have taken significant steps towards the development of the cryptocurrency industry. Binance has provided assistance to Kazakhstan in the development of a legislative framework and a general policy for the regulation of crypto assets, as well as in the implementation of various educational initiatives, including for government and law enforcement agencies and regulators.”Zhaslan Madiyev, General Manager of Binance Kazakhstan, noted that Binance is productively working with five regulatory bodies in the country: the AIFC Financial Services Authority (AFSA), the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the National Bank of the Republic of Kazakhstan, the Financial Market Regulation and Development Agency, and the Financial Monitoring Agency. Madiyev added: “I want to express my deep gratitude to all regulators for their huge contribution to the development of the entire cryptocurrency industry. Thanks to constantly being in touch with Kazakhstan regulators, by the end of the year we plan to significantly expand the product line for users of the local cryptocurrency exchange, as well as to have no less than 100 digital assets approved and available on the platform.”Fiat InfrastructureKazakhstan’s Freedom Finance Bank bank has developed a service for the users of the new exchange that allows them to transfer fiat funds to the user account on the platform. Ablaykhan Ospanov, Managing Director of Bank Freedom Finance Kazakhstan JSC, called the launch of a pilot project for the operation of cryptocurrency exchanges in Kazakhstan a “major boost for the entire industry,” adding: “Many countries can follow Kazakhstan’s example. We see a great potential for the development of the blockchain and cryptocurrency industry, and we are also making great efforts to grow it.”Binance Kazakhstan users can buy and sell cryptocurrencies using a fiat balance, spot trading, and conversion, with the range of services offered expected to expand. There are two channels available to deposit and withdrawal: bank cards and bank transfer via Freedom Finance Bank. The global www.binance.com platform will continue to be available to users in Kazakhstan.

Main TakeawaysWeb3 is an exciting concept that offers users more control, ownership, and freedom on the internet.Skepticism about Web3 often stems from a lack of understanding and visible implementations, overhyped marketing, and technological complexity.The value of Web3 lies in decentralization and trust, ownership and empowerment, and interoperability and open ecosystems.Struggling to convince your friends that Web3 isn't just another passing trend? We've got your back.Web3. It's the term on seemingly everyone's lips. The concept has become something of a buzzword among tech giants and startups alike. With all this hype, it's no wonder that many of us have become skeptical of what the term actually is and where its value lies.It's an exciting concept: a new internet era where users have more control, ownership, and freedom. But with talk of decentralized finance, blockchain, and digital sovereignty, your friends and family might be left scratching their heads – and rightfully so.Explaining Web3's value to skeptics can be difficult if you're unprepared. There's much to unpack, from Web3's definition to its relationship with blockchain. So if you have to argue your corner at a social event, we've got you covered. It's time to equip yourself with a clear understanding of Web3 and help bridge the gap between uninformed skepticism and knowledgeable comprehension.Why Do People Have Doubts About Web3?Before we dive into the value of Web3, let's explore some of the main reasons behind the skepticism surrounding it.Lack of understanding: Many people may not fully grasp what Web3 is and how it differs from the current Web2. They might confuse it purely with cryptocurrencies or think it's just another buzzword. Thus, education about the fundamental technological shifts and empowering possibilities of Web3 is essential.Overhyped marketing: Like any emerging technology, Web3 has attracted its fair share of hype. Companies and projects often use the term to generate interest and investments. This hype can create skepticism and lead people to believe it's all a marketing gimmick. As such, it's crucial to separate the hype from the true potential of Web3.Lack of visible implementations: The technology, like blockchain and decentralized protocols, is fairly new. Web3 still needs to address challenges in scalability, user experience, and interoperability. Widespread adoption of new technology usually requires a shift in user behavior and infrastructure, which takes time for individuals, businesses, and governments to understand and integrate. Seeing visible implementations and use cases is often difficult if you're not looking for them.Complexity and learning curve: Web3 technologies, such as blockchain and smart contracts, can be complex for the average user to navigate. Skeptics often worry that the steep learning curve and technical barriers associated with Web3 could limit its mass adoption. The complexity of these systems raises concerns about whether everyday users will be able to participate effectively and benefit from the Web3 ecosystem.What Makes Web3 Valuable?Now that we understand some of the biggest doubts about Web3, let's discuss the value of this technological innovation.Decentralization and trustOne of Web3's core values is its emphasis on decentralization. Utilizing blockchain technology and decentralized protocols, Web3 aims to create a trustless environment where intermediaries and centralized authorities are minimized or eliminated. This decentralization increases transparency, reduces the risk of censorship, and empowers individuals to have more control over their data and digital interactions. The value of Web3 lies in its potential to establish trust and enable peer-to-peer interactions without needing intermediaries.Ownership and empowermentWeb3 introduces the concept of digital ownership and empowers users to have greater control over their digital assets and identities. Through the use of non-fungible tokens (NFTs) and smart contracts, Web3 enables the tokenization of assets and the creation of digital scarcity. This allows for the creation, transfer, and ownership of unique digital items, intellectual property, and even fractional ownership of physical assets. Web3's value lies in its ability to empower individuals to participate directly in digital economies, monetize their creations, and exercise greater control over their digital lives.Interoperability and open ecosystems Web3 promotes interoperability and the creation of open ecosystems. It aims to break down the silos of centralized platforms by enabling seamless communication and interaction between different applications and protocols. This interoperability allows the exchange of assets, data, and services across various platforms, creating a more connected and dynamic digital landscape. The value of Web3 lies in its potential for innovation and collaboration, as developers can build upon existing protocols and create synergies. This ultimately enhances users' experiences and drives the growth of decentralized applications and services.Dispel Your Friends' Doubts in 5 Steps1. Start with a clear definition. Begin by explaining the core concepts and principles of Web3 in simple terms. Focus on the advantages of decentralization, such as increased security, transparency, and user control over data. It's also important to note that Web3 encompasses more than just blockchains. Blockchain technology is only one tool used to enable Web3 experiences.2. Expand on the definition with a comparison to Web2.Web2 is the current internet, where a few big companies control everything and users rely on centralized platforms. Web3 gives users more control over their data and digital assets, promoting privacy and openness. It's about creating a fairer and more user-centric internet where people can connect and transact with each other directly. One popular explanation is to look at Web3 as a "read, write, and own" experience, compared to Web2's "read and write" model. With Web3, you can create and truly own the content you upload while interacting with other users' content.3. Share real-world use cases.Provide examples of existing Web3 projects and applications that have demonstrated value and impact. Highlight success stories like decentralized finance (DeFi) platforms, non-fungible tokens (NFTs) in the art and gaming industries, or decentralized social media platforms. By showcasing tangible applications, you can help your friends visualize the practical benefits and potential of Web3 in various domains.4. Encourage exploration and experimentation.Encourage your friends to explore Web3 themselves. Point them towards user-friendly platforms, decentralized applications (DApps), or tutorials that allow them to interact with the technology firsthand. Get your phone out and simply show them what there is to engage with! By actively engaging with Web3, they can gain a more informed perspective and overcome their doubts through firsthand experience.5. Address the hype.Without a doubt, there is an element of hype surrounding Web3. But this is true of almost all new technologies on the market. We already have working use cases, and it's impossible not to see the trend toward Web3 principles that consumers are demanding.Help Prepare Your Friends for the Web3 WorldWhen it comes to your skeptical friends, it shouldn't be too difficult to help them understand what Web3 is all about. While it's true that the term has become a bit of a buzzword, behind the hype lies a world of potential and exciting possibilities. Remember, education is key. By explaining the core concepts of Web3, comparing them to the current Web2 landscape, and sharing real-world use cases, we can help everyone see the value and relevance of this transformative technology.Further ReadingWhat Is Web3 and Why Does It Matter?Dispelling Friends' Doubts About NFTsDispelling Friends' Doubts About the Metaverse

Main TakeawaysThe Binance Labs Incubation Program is a chain-agnostic initiative that aims to empower innovative blockchain projects to shape the future of Web3. Binance Labs has invested in five promising projects featured in the fifth season of its Incubation Program. The selected projects range across a variety of Web3 sectors, including DeFi, infrastructure, tooling, and middleware. Binance Labs, the venture capital and incubation arm of Binance, has made an investment in the five best-performing projects of Season 5 of its Incubation Program. More than 900 projects applied for participation this season, with less than 2% of them being admitted into the program. The curriculum was tailored to meet founder needs and enhanced with exclusive ecosystem resources and fireside chats with market leaders."Binance Labs remains dedicated to empowering scalable early-stage projects that contribute to the advancement of the industry. We look forward to seeing the positive impact of Season five’s incubated projects on the broader Web3 ecosystem," said Yibo Ling, Chief Business Officer at Binance.Throughout the incubation process, the Binance Labs team offered 1:1 coaching to help incubation projects build viable products and conducted in-depth assessments to form a final investment decision. The Season 5 cohort had the opportunity to make their pitches to an audience of industry leaders and investors on Build The Block, the first-ever metaverse pitching competition where five exceptional projects received funding from Binance Labs:Bracket Labs, a project that builds leveraged structured products on-chain with simple interfaces and innovative, adaptive pricing to vastly improve usability. Bracket Labs has launched BracketX.fi, a platform that helps traders quickly take advantage of volatility in both sideways and trending market conditions.DappOS, a project focused on building an operating protocol to lower the barriers to entry to Web3 by creating solutions that improve the usability and accessibility of Web3 applications.Kryptoskatt, a project simplifying Web3 finance for users globally with a comprehensive suite of solutions that includes accounting, portfolio management, and tax reporting. Supporting over 2000 DeFi protocols, more than 100 exchanges and wallets, and over 50 blockchains, Kryptoskatt is a one-stop-shop for all Web3 finance needs.Mind Network, a full-encryption network built on a patented Adaptive Fully Homomorphic Encryption (FHE) framework to secure all user data, smart contracts, and AI on Web3. It is applied as a decentralized privacy-preserving data lake that offers encrypted high-performance pay-as-you-go data storage and computation.zkPass, a composable, privacy-preserving decentralized identity verification solution for Web3 based on multi-party computation (MPC) and zero-knowledge proof (ZKP) technologies. zkPass aims to provide a secure and privacy-preserving identity verification solution for Web3 applications using the latest in cryptographic technology.Coming Soon! Binance Labs Incubation Season 6 Stay tuned for the upcoming launch of Binance Labs Incubation Program Season 6! We’re currently looking for forward-thinking founders of early-stage projects to join the program. The application process for Season 6 will be open on a rolling basis, so be sure to follow our Twitter account to stay updated on the start of the application season!Disclaimer: Participation or selection of any of our incubatory programmes and on this platform may include third party products, comments and opinions. Please note that: (a) all content on this platform is presented to you on an “as is'' basis for general information purposes only, without representation or warranty of any kind; (b) such comments and opinions belong to these third parties, and do not purport to reflect the views, comments or opinions of Binance; and (c) correspondingly, their comments and opinions as expressed on our platform is not intended to be and shall not be construed as an endorsement by Binance. We shall not be liable or responsible for any errors or omissions, or for the results obtained from your use of such information. Please also note that: (a) Not all Binance products and services (if any are referred to) are available in your region; and (b) Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. The content on this platform shall not be construed as financial advice.

Main TakeawaysIn recent years, the digital asset industry has made massive strides in the area of compliance. As an industry leader, Binance prioritizes maintaining a strong and comprehensive compliance program.We are launching a new blog series, Playing by the Rules, to raise awareness of the role of compliance in crypto and highlight the impressive work that our Compliance team does every day.In the first article of the series, we look at the components of compliance, the differences between traditional and crypto financial organizations in terms of this function, and what today’s crypto compliance landscape looks like.Some people not yet familiar with the digital asset industry tend to think of it as a place where rules and laws that govern other sectors of financial activity don’t apply. Exposed to a mixture of anecdotes from the very early days of cryptocurrency – back when many early adopters considered dealing in digital tokens more akin to swapping baseball cards than trading financial assets – and facts from a few high-profile cases of crypto-related fraud such as FTX, these people can form an opinion that crypto firms are inherently incapable of being regulated and compliant.The reality of crypto compliance  is very different from this misinformed picture. In just a few years that have passed since the emergence of the first centralized crypto exchanges, the digital asset industry has improved its compliance capabilities in leaps and bounds. Over the recent years, Binance has invested tremendous resources in building out a state-of-the-art compliance program whose complexity and technological robustness can match those of the giants of traditional finance.To shed light on the fascinating work that our compliance professionals do, we launch Playing by the Rules – a blog series exploring the state of compliance in the crypto industry and zooming in on various domains that Binance’s Compliance team is keeping tabs on. In this introductory piece, we take a bird’s eye view of what we mean by compliance generally and how compliance in crypto is different from traditional finance.Compliance in Financial OrganizationsWhen people think of compliance in the context of finance, the terms KYC (Know Your Customer) or AML (Anti-Money Laundering) are usually the first to come to mind. Granted, these two are important components of any compliance program, but areas of the compliance function’s impact in a mature financial services company, traditional or crypto, are not limited to KYC and AML. Simplifying for the sake of clarity, we could describe compliance as comprising three main areas: AML, consumer protection, and regulatory compliance (i.e., licensing). Under these overly broad, and oftentimes complimentary, categories fall a bevy of disciplines underlying financial organizations’ compliance work that we will address in this blog series.Take the AML category, which can be further divided into areas such as CIP (customer identification programs), KYC, CDD (customer due diligence), EDD (enhanced due diligence), customer screening (inclusive of being under sanctions or being designated as politically exposed persons, or PEPs), transaction monitoring, suspicious activity/transactions/matter reporting (SAR/STR/SMR), risk assessments, audits, ABC (anti-bribery and corruption), Travel Rule, and many more.The consumer protection side of compliance, in addition to many of the aspects mentioned above, incorporates data privacy measures, terms of use, customer disclosures, segregation of assets, UDAAP (unfair, deceptive, or abusive acts or practices – a US-specific term that has counterparts in most countries), anti-scam and anti-fraud controls.On the regulatory front, compliance officers work to ensure that their company has implemented the necessary processes and controls to comply with the regulations of the jurisdictions that they operate in. This also includes licensing applications, maintaining relationships with regulatory bodies, managing external auditors as required, managing regulatory examinations, and fulfilling any remediation requirements subsequent to the exam or audit.In many jurisdictions, it is the compliance officer who is primarily responsible for a company’s operations being in line with the applicable regulations, and who holds personal liability for any failures that occur during their tenure. While other executives may share some level of liability, it is expected that the compliance officer has the autonomy and authority to act independently to ensure that the company meets its regulatory obligations.A compliance program may manage these areas of responsibility directly, or it may provide oversight, governance support, and quality assurance testing.Compliance in Crypto: Unique ChallengesRunning a compliance program for a digital asset services company entails covering all the same bases as in traditional finance – and also dealing with a slew of novel challenges. The biggest difference between TradFi and crypto has to do with the maturity of the regulatory environment, the rules governing the industry, and the lack of consistency across jurisdictions. For one, different countries have materially different definitions of various crypto assets, which has enormous implications for compliance work.Another major difference is the very nature of digital assets.  Most cryptocurrencies were designed to run on decentralized, distributed, permissionless networks that operate without any central governing body.  It is the embodiment of the “code is law” principle. In a permissionless network such as Bitcoin, there is no central body that can prevent a transaction from occurring. There are no “chargebacks.” No wire recalls. Transactions are permanent with no recourse for the originator.  This can create challenges for centralized service providers like crypto exchanges that are fundamentally different from the TradFi space.Traditional finance is dominated by highly centralized payment networks where transactions are slow (with typical processing times measured in days instead of minutes or seconds), can be reversed, blocked by outside parties, or even seized.  Consumer protection laws in many countries allow retail users to dispute charges on their accounts, sometimes up to 6 months after the fact, and the underlying service provider is obligated to make the user whole.What this means is that many of the traditional controls that are in place in TradFi won’t work well, if at all, in the crypto context. This warrants thinking about consumer protection differently. For example, if a user shares their password or private keys with someone and that third party liquidates a wallet, there is no way to recuperate the assets that have been moved and no centralized authority to “refund” the client's funds.  For this reason, centralized exchanges often provide advanced account security tools to their clients, perform more device fingerprinting and analysis, provide notices for withdrawals that appear to be destined for risky wallet addresses, and run client suitability tests to assess users’ level of understanding of the risks associated with certain products or services.Transparency and SpeedIn the world of distributed ledgers, transparency makes a key difference. Today’s financial services industry is an opaque and secretive web of different payment and settlement networks where only a select few may have access to critical pieces of information. Think about the SWIFT network. Only member banks and financial institutions will have access to the SWIFT messaging system, and this access will be limited to the transactions that the specific institution is processing. This provides a level of financial privacy but also allows institutions to operate surreptitiously.Public blockchains, on the other hand, are highly transparent, sometimes almost to a fault.  Every single transaction is published for the entire world to see.  While the names of the individuals and companies that are the originators and beneficiaries of these transactions are not readily available to an outside observer, most blockchains are pseudonymous. This means that there are key pieces of information that can be used by the public or blockchain analytics providers to identify originators, beneficiaries, transaction patterns, and wallet balances.  Using social engineering techniques, often these wallet addresses can be attributed to the real-world persons or companies who own or control the wallets. Going back to the example of SWIFT above, this is as if every person in the world had a front-row seat to every SWIFT transaction, and all of the associated bank account details ever processed.This level of transparency brings up numerous concerns around data privacy and individual security that the crypto industry must address. On the other hand, it also offers enormous opportunities for exchanges and other industry players to build tools allowing for far greater insight into what is occurring within blockchain networks globally, piercing the veil of transactions that could be layered to avoid detection. This gives crime fighters all over the globe an efficient way to investigate illicit activity while minimizing the need to obtain court orders, subpoenas, or rely on mutual legal assistance treaties (MLATs) to investigate the cross-border movement of funds.Finally, a key value driver for the crypto industry is speed. Transactions in the world of traditional finance typically take days to settle. One of the promises of digital assets is the ability to settle in near real-time. Applying the same regulatory expectations and similar compliance controls and processes that TradFi platforms use to the crypto industry threatens to destroy the value and efficiency achieved by crypto transactions.How Do Crypto Companies Approach Compliance?Given the complexity of the task at hand, the level of compliance practices and processes to which today’s digital asset industry has risen is impressive. Furthermore, given the speed at which leading crypto companies continue progressing in this domain, we can expect industry compliance standards to become even stronger.Anti-Money Laundering (AML) work has been the marquee headliner for crypto over the last several years – and will continue to be going forward. Stringent AML laws have been enacted in most developed countries over the past couple of decades, and they are largely agnostic to technology. This means that the AML rules for crypto companies (especially those that support fiat as well) are well-established and understood by the industry.Basic things such as obtaining identifying information on your customers (KYC) or monitoring transactions for suspicious activity and complying with international sanctions are nothing new for crypto firms as they represent the staples of any compliance program.The pace of adoption of a compliance ethos in the crypto industry has accelerated in recent years with the emergence of more regulatory clarity and a common acceptance that AML laws in most jurisdictions apply to the crypto industry. Moreover, strategic partnerships with traditional banking and payment networks have helped to accelerate the move to a more compliant approach since having fiat rails is a clear differentiator in today’s digital asset market. Traditional financial institutions require that the exchanges that they support meet their standards for compliance, AML, sanctions, and anti-fraud measures.There is also a healthy amount of collaboration between compliance leaders within the crypto industry. We accept the truth that having another major FTX-style scandal can do the entire industry irreparable damage, and it is in everyone’s best interest to be collaborative on emerging trends, risks, and solutions to the problems and challenges that crypto compliance faces.Binance: At the Cutting Edge of Crypto ComplianceFor Binance, compliance is the top strategic priority, and a compliance mindset is baked into everything we do. We have gone a long way since our early days in how we approach this key side of our operations and have come to realize that advancing crypto adoption and the freedom of money is only possible in close cooperation with regulators and strict adherence to all applicable rules.Binance has invested heavily in finding the best KYC vendors and data sources in each of the jurisdictions that we support. This allows us to provide the best user experience possible while remaining fully compliant with local and international laws and regulations. The localization of our controls is also a demonstration of our commitment to understanding our clients and tailoring our solutions to their needs.There remains a disparity in the industry when it comes to the level of compliance that participants have. This is primarily due to the fact that compliance is hard, expensive, and creates customer friction. The larger crypto businesses, such as industry leader Binance, have more resources and are therefore better equipped to implement the numerous vendor solutions and build internal tools that a robust compliance program requires.Over time, crypto compliance is becoming more structurally similar to how this work is organized in a traditional financial services company. However, thanks to dealing with numerous novel challenges every day, crypto firms will develop – and in some cases already have – more sophisticated tools, better data, and greater insight into how individual transactions fit into the big picture.To take a deeper dive into various aspects of Binance’s compliance program, stay tuned for the upcoming entries of our Playing by the Rules series.Risk Warning: Digital assets are subject to high market risk and price volatility. The value of your investment can go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.

Main TakeawaysBinance employs many tools and measures to protect users from crypto scams and account takeover attacks (ATO). Some examples include real-time risk monitoring and user tools like 2FA, anti-phishing codes, and timely alerts.The Binance risk control team plays an invaluable role behind the scenes. Learn exactly how they safeguard users’ assets for the world’s largest crypto exchange. Finding the right combination of security and user experience is a challenging but daily responsibility for our risk control team at Binance. Too many protective measures can frustrate users, while too little leaves an ecosystem open to costly threats.At Binance, we’ve underpinned each user’s crypto journey with robust risk control measures that protect them from prevalent scams and account takeover attacks (ATO). We do this by  preemptively identifying malicious actors before they strike. In the following sections, we’ll look closer at our risk control team’s primary responsibilities. We’ll also highlight some best practice tips for Binance users to protect their funds. Scam PreventionScams, and the methods used, evolve just as fast as the crypto industry. To stay one step ahead of the cybercrime industry, we employ a vast arsenal of tools and measures, from real-time risk monitoring to ensuring our users have all the knowledge they need to identify and avoid scammers. What we’ve achieved so farLet’s first take a look at what our risk control team has accomplished since the beginning of 2022 in combating prevalent crypto scams. The team has: Identified 40 million malicious, fraudulent transactions.Triggered protection measures for over 5.2 million potential victims.Successfully assisted users in avoiding losses of around 460 million USDT. Keep reading to see the different ways we protect you, as well as the resources and tools that are readily available. How We Protect Users From Scams1. Warning notifications Using a risk control engine alongside powerful data computing capabilities, we can monitor each transaction going in and out of our platform for fraudulent behavior. When triggered, our system can also send real-time notifications to warn users of potential risks before they click continue. 2. Binance VerifyScammers impersonating our employees is an unfortunate byproduct of our influence and reputation — one that millions of crypto users trust globally. Our official database, Binance Verify, allows anyone to cross-check Binance domains, email addresses, phone numbers, WeChat IDs, Telegram IDs, and Twitter handles. If anyone contacts you as a “Binance employee,” don’t instantly trust their credibility. Please verify the source on Binance Verify first. 3. Suspicious address watchlist We add suspicious addresses onto a special list for careful monitoring. Here’s an example of how it works to protect you. Let’s say a user initiates a withdrawal to one of these “suspicious addresses.” Our system will automatically intercept the transaction and temporarily restrict the user’s withdrawals for a short period. At the same time, we have a list of trusted addresses that ensures we minimize false positives. We also send questionnaires to users who we suspect have been defrauded. Answers that raise a red flag will place the user in a cooling-down period, temporarily disabling their withdrawals. 4. Reporting toolBinance users can report any scams or fraudulent activities via Binance Support. In the event of a scam, reports may allow us to help other victims recover their losses and stop criminals from targeting more people. We regularly block wallet addresses and/or accounts that we’ve identified as scammers. 5. Anti-scam educational resourcesOn the Binance blog, we’ve created an ongoing educational series, titled Know Your Scam, that helps users understand popular crypto scams, their techniques, and how to avoid them. The series has so far been received well by users.The best method to prevent scams is through educating users to make better, more well-informed decisions. Ultimately, you play the largest role in protecting your funds. Feel free to check out some of the latest Know Your Scam articles we’ve released:How to Protect Your Crypto From DeFi Phishing ScamsMoney Transfer Scams in Crypto How to Identify Fake Shopping Websites Account Takeover Attacks The risk control team holds a crucial position in mitigating and addressing instances of breached user accounts, also known as account takeover attacks (ATO). Our responsibilities encompass activity monitoring, incident investigation, and anti-ATO development and implementation. In addition, we’ve built a library of educational articles to help users like you secure your accounts, as well as ensure regulatory compliance to maintain a secure trading environment.What we’ve achieved so farSince 2022, our anti-ATO measures have shielded 67,000 potential victims from account takeovers. In potential user losses, this adds up to approximately 223 million USDT. The following section will share more about the security tools available to users, and the risk control methods we use to thwart attackers. How We Combat Account Takeover Attacks1. Two-factor authentication (2FA)As a basic anti-ATO measure, we encourage all Binance users to enable 2FA. This adds an extra layer of security to your account rather than just using a password. To reduce reliance on SMS-based 2FA, Binance users have access to a broad selection of 2FA alternatives like Passkey, Google Authenticator, and our own Binance Authenticator. Note that the lack of end-to-end encryption in SMS-based 2FA exposes users to vulnerabilities such as interception, spoofing, phishing, and SIM swapping. For more information on setting up 2FA, please refer to our library of FAQ guides.What are passkeys?Passkeys are the latest addition to our supported-2FA methods. Instead of a password or SMS code, it authenticates your identity using locally-stored biometrics (Face ID, Touch ID, etc.) or passcodes. Binance users can add passkeys using iCloud Keychain for iOS devices, screen lock or PIN for Android devices, and USB security key for both iOS and Android devices. Once activated, you can immediately use your passkey for 2FA across all linked devices. 2. Preventative measuresCrypto withdrawals pose high risks due to the irreversible and pseudonymous nature of blockchain transactions. After funds leave Binance, tracing the owner and recovering assets is significantly more challenging. That’s why we employ a range of measures designed to stop criminals from absconding with stolen user funds. Withdrawal address whitelist. Each Binance user has a whitelist where they, upon passing multiple verification checks, can add trusted withdrawal addresses for specific cryptocurrencies. This helps users prevent unauthorized transfers in case their account is stolen.Risk identification. Our risk control engine temporarily suspends withdrawals for users after abnormal behavior or potential security threats. For example, withdrawals are typically disabled for 24 or 48 hours after a password change. They resume automatically after the suspension period.Facial verification. Facial verification allows us to confirm the person behind the account is who they really are. We use advanced artificial intelligence models to first enhance user security, but also keep pace with the rapidly-evolving technology behind deep fakes. 3. Alerts and notificationsAlerts and notifications provide users with real-time updates on their account activity, including new devices, attempted logins, and suspicious transactions, to name a few. We always encourage users to enable their alerts and customize them according to what information they deem essential. 4. Anti-phishing codeA unique set of letters and numbers, anti-phishing codes help Binance users distinguish real Binance emails from fake phishing attempts. Once set up, you’ll find your unique code in the bottom right of every legitimate email from Binance. 5. API key securityAll API keys at Binance are cryptographically secured via Ed25519, a specific instance of the Edwards-curve Digital Signature Algorithm (EdDsa) family of signature schemes. This ensures better performance and improved security via asymmetrical keys. For APIs that have enabled permissions beyond “reading,” we require mandatory binding of IP whitelists. Doing so prevents hackers from exploiting a leaked API from the user side. Moreover, third-party brokers must also bind the IP whitelist limited by the broker when using Binance API to provide services.Finally, we conduct surveillance on public third-party platforms on the Internet. When we discover potential API key leaks, we delete the API and notify users immediately. 6. Anti-ATO educational resourcesIn line with our Know Your Scam initiative, we recently introduced a new blog series, titled Stay Safe, to explore and discuss account takeover attacks. Our goal is to increase awareness among users regarding the potential risks associated with storing sensitive information online and empower them to safeguard themselves against the increasing prevalence of ATO attacks. Building a Secure EcosystemThe Binance risk control team works around the clock to safeguard the Binance ecosystem — while ensuring a frictionless user experience — through a combination of advanced tools and measures. We’re always looking to improve our technology, products, and operations to serve our users best. If you’ve fallen victim to a scam or a hacker, please contact law enforcement and file a report to Binance Support immediately. Binance works closely with law enforcement, and our cooperation regularly results in detections and seizures. While recovering your money is far from guaranteed, this is, in most cases, the only chance to retrieve the stolen funds.Further ReadingStay Safe: Best Practices for Preventing Account Takeover AttacksHow to Protect Your Crypto From SMS Spoofing Attacks Why and How We Use Real-Time Machine Learning to Monitor Fraudulent Activity at Binance

Main TakeawaysBinance’s Bitcoin Button Game is back by popular demand! Be the last player to click the Bitcoin Button to win one bitcoin in token voucher. Find out how you can earn more chances to click the Bitcoin Button.Win one bitcoin (in token voucher) by being the last player to press the Bitcoin Button. Read the rules of the game and learn how to earn more chances to click the button.Last year, we launched the Bitcoin Button game, and one lucky Binance user walked away with one bitcoin. This year, the game’s back by popular demand. Starting from June 12, all Binance users can take part in the game. The rules of the Bitcoin Button game are easy – to win, you must be the last person to click the button. The only catch? You only have one chance to click. Win the game, win a bitcoin.How to Play the Bitcoin Button GameHead to the Bitcoin Button game page.Sign in with your Binance account.Read the rules carefully and click the Bitcoin Button whenever you think is best.Remember, you have to be the last to click the button to win one bitcoin in token voucher. Use your click wisely!Want to Click the Bitcoin Button Again? Here’s HowComplete all missions to earn more chances to click the Bitcoin Button.Basic Mission 1: Complete Identity VerificationComplete the identity verification process to earn an additional chance to click.Basic Mission 2: Refer a FriendSuccessfully refer a friend and earn an additional chance to click when they create a Binance account and complete the identity verification process (KYC).Advanced Missions: Community Puzzles Starting from June 12, you can solve community puzzles on this page to earn an additional attempt for every successfully solved puzzle. There will be four puzzles in total, with one new puzzle every two weeks.Didn’t Win? Get Rewarded When You Share ResultsActivity A: $5,000 in BTC Gift Cards up for grabsBe part of the first 5,000 eligible participants who complete the following tasks:Be a community member at the Binance English Telegram group or the Binance Discord server.Discuss solutions to the biweekly community puzzles in the Binance English Telegram group or the Binance Discord server, and ensure that the #BitcoinButton hashtag is included in your messages.Complete this form. Activity B: $10,000 in BTC token vouchers up for grabsShare your results on Twitter and stand to share $10,000 in BTC token vouchers.After you’ve clicked the button, follow @binance on Twitter.Share a screenshot of your game page showing your “Click Timer” on Twitter. Make sure your tweet is publicly accessible.In your tweet caption, you need to include one fact about Bitcoin and the hashtags #BitcoinButton and #Binance. Here’s an example:Satoshi Nakamoto is the creator of Bitcoin. #BitcoinButton #Binance20 eligible participants will share $10,000 in BTC token vouchers equally.Terms & ConditionsEach Binance and Twitter account user can only press the button once.Binance reserves the right to disqualify anyone who is found cheating or has acted with malicious intent.Binance reserves the right to cancel or amend any activity or game rules at our sole discretion.For more information, please read the announcement on the Bitcoin Button game.Will You Be the Last One Clicking?The Bitcoin Button is a fun, free-to-play game exclusively for Binance users. Sign up for a Binance account and stand a chance to win one bitcoin in token voucher today.Play the Bitcoin Button Game now!Further ReadingWhat is Bitcoin Button Game and How Does It Work?Bitcoin Button Game — Click The Button To Win A BitcoinHow to Complete Identity Verification

Main TakeawaysIn this blog series, we offer concise summaries of Binance Research team’s findings, inviting you to take a deeper dive into the original reports. This latest article previews the recent Binance Research report that retrospectively discusses key developments in crypto from the past month.May 2023 was an eventful month for the crypto market, with broad macroeconomic developments amid a meme coin frenzy and the steepest decline in overall crypto market capitalization so far this year.Thanks to Binance Research, you can take advantage of industry-grade analyses of the processes that shape what the Web3 space will look like tomorrow. By sharing these insights, we hope to empower our community with the latest knowledge from the field of crypto research. For a deeper dive, the full reports are available on the Binance Research website.In financial markets, knowledge is power. Gone are the days when only big institutions and sophisticated financiers used high-quality research to navigate the digital asset space. Thanks to Binance Research, you can empower yourself with the latest data and insights from the field of crypto research. Today, we will explore key Web3 developments in May 2023 to provide an overview of the crypto ecosystem’s current state. We will analyze the performance of crypto, DeFi, and NFT markets before previewing the major events to look out for in June.Crypto Market Performance in May 2023May saw the crypto market experiencing the effects of macroeconomic news and developments. For most of the month, financial markets were uneasy as uncertainty loomed over the US debt ceiling. Overall, crypto market capitalization decreased by 6% – the steepest fall of the year thus far.Nonetheless, positive regulatory developments were seen in Asia. Beijing released a whitepaper for Web3 innovation and development, which could be seen as a sign of China’s increasing openness to blockchain technologies. Additionally, Hong Kong announced that it will start permitting retail trading of cryptocurrencies, with the government accepting applications from digital asset exchanges starting June 1. Monthly change in crypto market cap (%)JanFebMarAprMayJunJulAugSepOctNovDec202330.43.49.33.2-6.02022-22.6-0.325.3-18.1-25.2-31.721.8-11.4-2.17.2-18.0-4.5202133.939.631.111.4-25.7-5.912.525.2-9.942.9-1.0-15.0202035.4-5.5-27.738.810.0-4.525.913.7-7.614.637.539.72019-11.612.311.117.155.530.8-22.5-6.5-13.714.8-14.7-7.92018-10.2-9.0-42.967.9-26.2-23.418.1-22.9-1.7-8.4-32.1-5.5Source: CoinMarketCap (May 31, 2023)Monthly price performance of the top 10 coins by market capitalizationSource: CoinMarketCap (May 31, 2023)XRP was the strongest performer this month. Ripple has been making moves to expand its capabilities, including the launch of a new platform to enable central banks, governments, and financial institutions to issue their own digital currencies.DOGE and SHIB were the two weakest performers among the top 10 coins in May. Despite the meme coin frenzy unfolding throughout the month, DOGE and SHIB could not escape the broader declines experienced across the market. Daily transaction volumes of Dogecoin reached all-time highs after the introduction of so-called “DRC-20 tokens,” though it remains to be seen if this activity will be sustainable.Decentralized finance (DeFi)Decentralized finance (DeFi) markets fell 3.4% by total value locked (TVL) to $47.9B. The composition of top blockchains by TVL share remained generally unchanged, with Ethereum at 58.1%, Tron at 11.9%, and BNB Chain at 9.3%.TVL share of top blockchainsSource: DeFiLlama (May 31, 2023)   Ethereum experienced a slight decline in TVL to $27.9B as part of a wider pullback in on-chain liquidity. Fantom faced the steepest drop, losing more than one-third of its TVL. These declines came amid rumors and uncertainty surrounding Multichain, which 35% of Fantom’s TVL is locked into.Non-fungible tokens (NFTs)Monthly trading volume for NFTsSource: Cryptoslam (May 31, 2023)NFT trading volume rose slightly in May, ending the month at just over $740M. The total number of buyers and sellers has reached an all-time high for the year at 1.67M, and the total number of transactions rose to 8.92M.Meanwhile, Nansen’s NFT-500 index extended its decline as the floor prices for notable NFT collections fell. Large overnight sales of major collections – including Doodles and Mutant Ape Yacht Club (MAYC) – were observed in May. Another potential factor was the meme coin frenzy, with traders rotating from NFTs and selling them to jump on the meme coin bandwagon picking up momentum.Upcoming EventsTo help users stay updated on the latest Web3 news, Binance Research has summarized notable events and token unlocks for the month to come. Keep an eye on these upcoming developments in the blockchain space.Notable events in June 2023Source: Binance ResearchLargest token unlocks in USD termsSource: Twitter (@top7ico), TokenUnlocks, Binance ResearchBinance ResearchThe Binance Research team is committed to delivering objective, independent, and comprehensive analyses of the crypto space. They publish insightful takes on Web3 topics including, but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes. This article is only a snapshot of the full report, which contains further insights and an analysis of the most important market charts from the past month. It also features a deeper dive into meme coins, BRC-20, Ethereum layer-2 (L2) fees, USDT, and LSDfi.To read the full version of this report, click here. Additionally, you can find other in-depth investigations of the latest Web3 developments by visiting the Insights & Analysis page on the Binance Research website. Take the opportunity to empower yourself with the latest insights from the field of crypto research!Further ReadingBinance Research: Key Trends in Crypto – May 2023Binance Research: Investigating the Rise of BRC-20 TokensBinance Research: Institutional Custody in CryptoGeneral Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice and is not a recommendation, offer, or solicitation to buy or sell any securities or cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer; they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive, and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given, and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ‘forward-looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies, or any investment strategy, nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.

This is a general announcement. Products and services referred to here may not be available in your region.Main TakeawaysBinance Earn has launched a new Dual Investment feature, Cross Crypto Pairs. Cross Crypto Dual Investment allows users to accumulate more of their favorite cryptocurrency assets such as BTC, ETH, BNB while having the chance to convert one currency to another at a more favorable price in the future.This feature supports the following pairs: ETH/BTC, BNB/BTC, and BNB/ETHOffers attractive rewards at zero trading fees. Check out the latest features we’ve developed for our new tried-and-tested Dual Investment release.Since the introduction of Dual Investment, our users have embraced the opportunity to buy or sell cryptocurrency at their desired prices while earning attractive rewards regardless of market direction. Since then, we have expanded our selection of crypto assets available for Dual Investment.At Binance, we’re driven to continuously improve the products we offer users. Our team is always listening to the Binancian community for new ways to streamline our services and implement the features that you’ve been asking for. This ambition is the driver behind brand-new products and older ones alike. Introducing Cross Crypto PairsWith Cross Crypto Pairs, we provide our users an opportunity to accumulate one of the top 3 tokens by market cap (BTC, ETH, or BNB). Users also have the chance to convert one currency to another at a more favorable rate in the future with zero trading fees. It provides attractive rewards for short-term subscriptions. This latest Dual Investment feature supports the following three pairs with respective configuration:  ETH/BTC, BNB/BTC, and BNB/ETH. Product PairsSell HighBuy Low ETH Dual InvestmentETH/BTCSell ETH for BTC (deposit ETH)Buy ETH with BTC (deposit BTC)BNB Dual Investment BNB/BTCSell BNB for BTC(deposit BNB)Buy BNB with BTC(deposit BTC)BNB/ETHSell BNB for ETH(deposit BNB)Buy BNB with ETH (deposit ETH)This new release can prove especially valuable for the following groups: HODLers, High net worth individuals who want higher interest rates than saving or staking. Miners who would like to sell their inventory at relatively higher prices. Spot traders who are looking to convert tokens for another at zero fees & at profit.How to Get Started with Cross Crypto Dual InvestmentFollow these simple steps to get started with Cross Crypto Dual Investment. Go to the Dual Investment page.Select ETH for the ETH/BTC pair or BNB for BNB/ETH and BNB/BTC pairs.Choose whether you want to “Sell High” or “Buy Low.”Select your desired price (“Target Price”) and date (“Settlement Date”) to buy or sell.Input your subscription amount.Check out Dual Investment Beginner Mode for a step-by-step guide through the subscription process for Dual Investment products. Learn More About Dual InvestmentFor more information about Dual Investment, including a glossary and detailed calculation methodology, check out our Dual Investment FAQ page.Further ReadingTop 6 Dual Investment Trading StrategiesExploring Dual Investment’s New Auto-Compound FeatureLearn About Dual Investment and Complete the QuizRisk Warning: Digital asset prices can be volatile. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. You may be better off holding your cryptocurrency, and may be required to trade at a rate less favourable than the market rate on the Settlement Date. Not financial advice. For more information, see our Terms of Use and Risk Warning.

Main TakeawaysAccount takeover (ATO) attacks can result in the loss of private data, monetary damages, and the risk of identity theft; We listed several ways individuals and organizations can defend against such attacks.This post is part of our “Stay Safe” series, where we explain how ATO attacks work and how you can protect yourselves.Account takeover (ATO) attacks can leave a financial and reputational impact on both businesses and individuals. Find out how you can prevent such attacks from happening.Account takeover (ATO) attacks, where hackers gain control of users' accounts for malicious purposes, are a growing concern for businesses and individuals. They can result in serious financial, emotional, and reputational damage on both individual and organizational levels. For instance, ATO attackers can gain unwarranted access to sensitive information, execute fraudulent transactions, or use the hijacked accounts as launchpads for other malicious activities.Learn why it’s important and how you can take appropriate measures to defend against ATO attacks.The Importance of Defending Against ATO AttacksPreventing financial and reputational impact on businessesAccount takeovers, which can be part of larger data breaches, may lead to consequences such as regulatory penalties, legal repercussions, and loss of customer trust. In turn, companies could face huge financial losses from fraudulent transactions made by attackers, fines, remediation costs, and lawsuits, as well as the theft of intellectual property or confidential information. ATO attacks can also severely harm business reputation. This damage could lead to decreased customer trust, lost clientele, and negative publicity, potentially impacting revenue and market standing. Even if an ATO attack gets settled, companies may still face challenges in rebuilding a tarnished reputation.Avoiding damage to individuals and organizationsAccount takeover attacks invade individuals' privacy by granting unauthorized access to their personal information, communications, and private data. Experiencing such a breach may result in emotional and mental distress, causing affected individuals to feel exposed and defenseless.For organizations, these distressing incidents create an environment of fear, leading to reduced morale and productivity among employees. To prevent ATO attacks and the long-lasting damage they bring, bolster your account or platform defense with the following safety measures:Improve password security.Enable multi-factor authentication.Increase device and network security.Actively monitor accounts.Report suspicious activity immediately.Best Practices for Password SecurityPassword complexity and lengthCreate strong, unique passwords with a combination of uppercase and lowercase letters, numbers, and special characters. Using a password of at least 12 characters also makes it tougher for attackers to hack into your account.Avoid using simple passwords such as names, birthdays, dictionary words, etc.Password update and expirationEnhance your account security by changing passwords every three to six months. It’s best to avoid reusing passwords.Refrain from using identical passwords for multiple accounts to prevent them from being compromised at the same time. Password managers and vaultsUse reliable password managers and vaults to generate and store strong, distinct passwords for each account. These tools enhance password security and organize your login credentials effectively.Avoid password storage offered by web browsers as they may not provide the same level of security as a dedicated password manager. Similarly, refrain from storing passwords on devices. If you lose your phone or laptop, your password may be compromised.Writing passwords down also poses a similar security risk. If you must, keep your passwords in a secure location like a locked drawer or a safe.Multi-Factor Authentication StrategiesMulti-Factor Authentication (MFA) requires users to verify their identity using multiple forms of verification, enhancing protection beyond just a password.Common MFA strategies include:SMS, voice calls, and emails: A unique code is sent through these channels.Authenticator apps: Apps like Google Authenticator, Microsoft Authenticator, or Authy can generate time-based one-time passwords without requiring an internet connection.Push Notifications: Approval requests are sent to a mobile device for the user to approve or deny.Tokens: A unique code or response can be generated with a physical device like a USB token or smart card. Biometric Authentication: Unique biological characteristics, such as fingerprints, facial recognition, voice recognition, or iris scans, can be used during verification. Biometrics are convenient yet secure as they are difficult to replicate.As a Binance user, consider enabling two-factor authentication (2FA) on your account. Binance offers various options of MFA strategies you can implement, including biometrics, apps, email, and SMS.Ways to Secure Your Devices and NetworksKeep software and firmware up to dateRegularly update the operating system, applications, and firmware on your devices. Updates often include security patches that address known vulnerabilities, reducing the risk of exploitation by attackers.Use encryption and secure protocolsEnable encryption for your devices and network communications. Use secure protocols such as HTTPS for web browsing and SSL/TLS for email.Enable firewallsActivate firewalls on your devices and routers to control incoming and outgoing network traffic. Firewalls act as a barrier between your devices and the internet, blocking unauthorized access and potential threats.Implement device management and access control policiesEstablish strong device management policies, including password requirements, account lockouts, and session timeouts. Restrict administrative privileges to limit the potential impact of a security breach.Secure your Wi-Fi networkChange the default credentials and enable strong encryption (WPA2 or WPA3) for your Wi-Fi network. Use a unique, strong password for network access and avoid broadcasting the network's SSID (Service Set Identifier).Be mindful of public Wi-FiPublic Wi-Fi networks are inherently less secure. Avoid accessing or transmitting sensitive information while connected to them.If you need to log into your crypto or bank account, make online purchases, or access confidential work-related information, do so on a trusted and secure network.Use a guest networkIf your router supports it, create a separate guest network for visitors. This isolates guest devices from your main network, reducing the risk of unauthorized access to sensitive data.How to Monitor Accounts for Suspicious ActivityMonitoring your accounts for suspicious activity is an important practice to detect and prevent unauthorized access or fraudulent activities. Here are some best practices for monitoring your accounts effectively:Use alerts and notificationsEnable account activity alerts provided by your crypto service provider or financial institutions. These alerts can be sent via email, text message, or push notifications to inform you of any suspicious or unusual activity detected.Regularly monitor your account activityCheck your account activity on a regular basis, examining the transactions, login history, and account settings for any signs of unauthorized access or suspicious behavior.Keep contact information updatedIt’s essential that your contact information, such as email address and phone number, is kept up to date with your service providers. This ensures that you receive important notifications, and can be contacted promptly in case of any suspicious activity.Stay alert for phishing attemptsLook out for scams where attackers impersonate legitimate entities to trick you into revealing sensitive information. Be cautious of unexpected messages or calls asking for personal information and avoid clicking on suspicious links. As a Binance user, you should consider enabling the Anti-phishing code to your email notifications.Monitor credit reportsRegularly monitor your reports from credit bureaus to detect any unauthorized accounts or suspicious activities. You are entitled to a free annual credit report from each major credit bureau, and reviewing these reports can help identify any fraudulent activities associated with your accounts.Report Suspicious Activity ImmediatelyFinally, if you detect unusual or suspicious activity, promptly report it to the respective service provider or financial institution for assistance in securing your account, reversing unauthorized transactions, and preventing additional harm. If you suspect that your Binance account has been compromised, contact Customer Support and consider changing your password and multi-factor authentication for added protection immediately.Further ReadingStay Safe: What Are Account Takeover Attacks?Stay Safe: How Account Takeover Attackers Steal Login CredentialsStay Safe: Detecting Account Takeover AttacksDisclaimer and Risk Warning: This content is presented to you on an “as is” basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.

Disclaimer: Digital asset prices can be volatile. Do your own research. See full terms here and our risk warning here. Binance Futures products are restricted in certain countries and to certain users. This communication is not intended for users/countries to which restrictions apply.Main TakeawaysWhen a cryptocurrency reaches an overbought level, it suggests there could be a high possibility of a correction.Conversely, if a crypto asset enters an oversold area, it indicates there may be an upcoming reversal point.The RSI and the Stochastic Oscillator indicators oscillate between 0 to 100, which can possibly help to identify when the cryptocurrency is in overbought or oversold price territory.Cryptocurrency investors often use trading signals as indicators to enter or exit a trade. Two particularly popular types are overbought and oversold signals. These can help traders determine whether a cryptocurrency's price is perhaps in bullish or bearish momentum.Two of the most common indicators used in technical analysis to establish overbought and oversold levels are the Relative Strength Index (RSI) and the Stochastic Oscillator. Both indicators mentioned are oscillators, which describe a broader group of technical indicators analysts use.What Are Overbought and Oversold Signals?An overbought signal suggests that the price has been in bullish momentum for an extended period and is trading higher than its inherent value. Traders may conclude that the cryptocurrency is more expensive than the asset's intrinsic price, and a possible sell-off may be on the horizon.An oversold signal may indicate that the cryptocurrency's price is trading below the asset's actual worth – suggesting a bearish trend. However, given that the cryptocurrency is sold at an undervalued price over an extended period, the momentum could shift to the upside, potentially seeing a price reversal.The Relative Strength IndexThe Relative Strength Index (RSI) is a commonly used technical analysis indicator to estimate short-term market momentum, evaluating overvalued or undervalued conditions. It provides insight into the cryptocurrency's trading strength by measuring the speed and direction of the recent price movements.The RSI measures the change in momentum of the cryptocurrency's price through a range-bound oscillator. The values on the RSI range between 0 to 100, calculated based on recent price changes and prior periods' average gains vs. losses.Short-term traders often use the RSI for buy and sell signals and also in conjunction with other technical indicators to support trading strategies.Stochastic OscillatorThe Stochastic Oscillator compares the current price of a cryptocurrency to its range over a specific period. The indicator also provides insight into the possible times to exit and enter a trade by determining whether the crypto asset is overbought or oversold.Given the volatile nature of cryptocurrencies, traders utilize the Stochastic Oscillator as it enables analysts to identify changes more in sideways or choppy markets.How to Identify if a Cryptocurrency Is Oversold or OverboughtAs mentioned, traders can leverage the RSI to identify a reversal in a trend or a corrective pullback in the cryptocurrency's price. For example, an RSI reading of over 70 typically indicates that the asset is in the overbought territory – which means that the digital asset could see a pullback.When the RSI shows a reading below 30, the crypto is in an oversold condition, which suggests that there could be a potential reversal in trend and due for a rally upwards.With the Stochastic Oscillator, a value of 80 or above is considered overbought, and levels under 20 are considered oversold. If the indicator crosses these levels, it generally suggests a higher possibility of an incoming trend reversal or a price correction.Identifying DivergencesAlong with the overbought and oversold readings from the two indicators above, trendlines could also be useful for detecting divergences between the price and the strength of the cryptocurrency.Divergences typically indicate either bullishness or bearishness used in conjunction with the trading chart and the RSI.A bullish divergence is when the RSI reaches a higher low while the cryptocurrency's price reaches a lower low.A bearish divergence occurs when the crypto asset's price reaches a higher high, but the RSI reading indicates a lower high.Closing ThoughtsOverbought and oversold signals provide great insight for traders to help them decide at which levels to enter and exit the market. The RSI and the Stochastic Oscillator are the most popular tools to identify these levels and to see whether there could be a price correction or a reversal.As with all types of technical indicators, the RSI and the Stochastic Oscillator can provide helpful insight into the upcoming trends for digital assets, but they are best when used in conjunction with other tools.Further Reading(Blog) What Are Bull Flags and Bear Flags and How to Trade Them(Blog) What Is Long/Short Ratio and What Does It Convey in Cryptocurrency Futures?(Blog) Two Technical Indicators to Gauge Market Trends in Binance FuturesRisk Warning: This content is presented to you on an "as is" basis for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial or investment advice, nor is it intended to recommend the purchase of any specific product or service. Digital asset prices can be volatile. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not liable for any losses you may incur. For more information, see our Terms of Use and Risk Warning.The products and services referred to herein may be restricted in certain jurisdictions or regions or to certain users in accordance with applicable legal and regulatory requirements. You are responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of any products and services offered by or available through Binance in each country or region from which they are accessed by you or on your behalf. Binance reserves the right to change, modify or impose additional restrictions with respect to the access to and use of any products and/or services offered from time to time in its sole discretion at any time without notification.

Main TakeawaysBinance’s VIP Portal is proud to announce an upgrade to its analytics platform and a brand-new Intelligence feature.Three subsections of the portal – Futures Movements, Earn Professionals, and On-chain Analytics – give VIP users access to the tools and data they need to make more informed decisions.New features are also coming soon to the Liquidity Hub to enhance the experience of Binance VIP and Institutional’s liquidity provider customers.Learn more about what the Intelligence update can offer you by diving into our breakdown of the new feature’s benefits.Binance’s VIP Portal is a one-stop hub for our VIP clients to access all vital services, information, and support. It has a wide range of premium offerings to meet the needs of our most valuable customers. From personalized account services to in-depth market analytics, VIP users’ essential needs are covered in full.Furthermore, we never stop improving our services and adding more functionality where possible. It's part of our dedication to enhancing user experience by providing exciting new features and tools to help our VIP clients make informed decisions.Staying true to this commitment, we're excited to introduce to our users a range of new upgrades and functionality to explore.Introducing Intelligence, VIP Portal’s New FeatureIntelligence brings VIP users an upgrade of the portal’s analytics features. The new dashboard provides a summary view of all available market analytics on the VIP Portal. You can quickly glance at relevant market indicators and also change parameters to switch charts. Intelligence consists of three sub-sections:Futures MovementsEarn ProfessionalsOn-chain AnalyticsLet's briefly examine what you can expect from each sub-section and its available features.Futures MovementsThis subsection allows you to monitor price changes and market liquidity. VIP users can switch between the Thematic Basket, DeFi Index Dispersion, and BUSD Collection options to view different flow analytics.You can also examine market liquidity by checking Cost to Trade, Bid-Ask Spread, and Book Depth across all futures contracts.Earn ProfessionalThis subsection offers detailed participation analytics for Earn subscription data.The illustration shows a Dual Investment screen that offers multiple indicators of participation in this Earn product.VIP users can find call/put ratios, subscription distribution, and top asset subscriptions for the last seven days.On-chain AnalyticsThe subsection helps VIP users look at specific addresses in significant blockchain networks and assess their risk levels.The tool shows address interactions and risk components and provides an overall risk score.The feature is beneficial for VIP clients who move assets around multiple smart contracts and addresses.What’s Next for VIP Portal?Our new analytics features aren’t the only things we’ve been busy developing. We’ll soon release new features for our Liquidity Hub specifically aimed at liquidity provider customers.In the Liquidity Hub, you can access in-depth statistics relevant to market-making activities and historical performance reports for record-keeping purposes. Users can also manage their report recipients, which is particularly useful when operating as a large team. Some features are already live, but make sure to stay tuned for further updates.VIP Services That Improve ContinuouslyBinance VIP & Institutional is committed to constantly improving our products and services. If you’ve used any of the features mentioned here or simply want to give some feedback, get in touch! We take all our customer feedback seriously and treat it as a key part of creating top-notch services for our users.Further ReadingWhat Is the Report Center in VIP Portal on BinanceBinance VIP and Institutional Launches Capital Connect: Connecting Investors and Investment ManagersMake Audit Season a Breeze With Binance’s Report Center

Main TakeawaysIn this blog series, we offer concise summaries of Binance Research team’s findings, inviting you to take a deeper dive into the original reports. The latest article previews the recent Binance Research report discussing the current state of institutional custody in crypto. Institutional custodians are those who hold assets in custody for institutional clients. While they share similarities with exchanges, each serves a distinct role in the crypto ecosystem.Thanks to Binance Research, you can take advantage of industry-grade analyses of the processes that shape what the Web3 space will look like tomorrow. By sharing these insights, we hope to empower our community with the latest knowledge from the field of crypto research. For a deeper dive, the full reports are available on the Binance Research website.In the world of finance, custody of assets is fundamental to the functioning of all products and services built on top of it. In the realm of digital money, the decentralization that blockchain technology brings about adds novel challenges and complexities to the relationship between custodians of funds and their clients. Specifically, institutional custody has become a hot topic in crypto.Institutional custodians are the service providers that hold custody of assets for clients, much like banks, fund managers, and other institutional-scale entities. Their main focus is on optimizing for asset security and protection. The crypto ecosystem hasn’t always accepted institutional custodians: many see such custodial offerings as risky and contradictory to blockchain’s ethos of decentralization.Binance Research’s recent report explores the current state of institutional custody in crypto. This article previews that report, discussing the background of institutional custody before examining its role in the crypto ecosystem, how it differs from self-custody, and key trends to watch in the future.Institutional Investment in CryptoWith the growth of crypto, financial institutions worldwide have shown their willingness to invest in the novel asset class. A global study from Fidelity in late 2022 surveyed over 1,000 institutional investors across Europe, Asia, and the US, showing that 81% of them believe crypto should be a part of an institutional portfolio. Furthermore, 74% of the respondents reported having plans to invest in digital assets. Institutions are expressing a willingness to invest in digital assetsSource: Fidelity, Binance Research This welcoming stance toward crypto has been driven by client demand and a desire to engage with the innovations of blockchain technology. Institutional-grade custodians have emerged to accommodate the anticipated flow of institutional capital into crypto. However, given the importance of decentralization in the blockchain space, the crypto ecosystem has been divided on the emergence of a class of professional custodians whose job is to consolidate large amounts of digital assets.Institutional Custodians in CryptoIn response to the concerns mentioned above, institutional custodians have tried to differentiate themselves by redefining what custodianship means within the crypto space. Now more than ever, institutional custodians are addressing public scrutiny by offering innovative technological solutions. Furthermore, they are evolving to cater to the range of institutions’ risk preferences and investing styles.Institutional custodians help provide the peace of mind that many professional investors require to be able to take their first steps in the world of digital assets. As such, they play a vital role in attracting institutional capital to crypto and thus helping develop the industry. The services they offer include not only custody but also trading, staking, insurance, audits, escrow, accounting, research, and more. How institutional custodians are embedded into the crypto ecosystemSource: Blockdata, Binance Research Like exchanges, institutional custodians are embedded into the intermediary layer of the crypto ecosystem, where investment capital flows through to blockchain networks. While exchanges and institutional custodians may perform intermediary functions, their roles in the crypto ecosystem are distinct.Institutional custodians vs. exchangesInstitutions typically face a trade-off between convenience and security. They can choose to onboard into crypto through an exchange or through a specialized institutional custodian. Depending on the institution and its needs, these considerations will determine which service they choose to onboard through.Crypto exchanges serve to facilitate trading. They may also offer custody or other services on top of that, which many do. While it may be convenient to have trading and custody infrastructures in the same place, this also makes exchanges more attractive and vulnerable to hackers. Furthermore, verifying whether exchanges keep the assets in cold storage remains challenging.Conversely, safekeeping assets is the primary service institutional custodians provide to the crypto ecosystem. They are, first and foremost, focused on optimizing for security rather than convenience. Again, additional offerings may be provided as ancillary services, but the primary function is custody.Institutional custodians are evolving to provide similar offerings as traditional brokerage services. Traditional finance (TradFi) custodians are beginning to enter the crypto custody space to compete with their crypto-native counterparts. As crypto regulation continues to develop and the rules for various kinds of crypto-related activity appear, custodians will also be impacted.Self-Custody vs. Institutional CustodyOn January 3, 2009, the first block – or “genesis block” – on the Bitcoin blockchain was mined by Satoshi Nakamoto, the first cryptocurrency’s pseudonymous creator. Embedded into the metadata was a short quote: “Chancellor on brink of second bailout for banks.” While referencing the 2008 banking crisis that led many of the world’s largest custodians to lose their customers’ assets, the quote reveals one of blockchain’s driving forces. Satoshi envisioned a payment system that would not rely on centralized custodians but would allow users to self-custody their own assets. Risks of self-custodyThe notion of self-custody is powerful, especially for individual investors. However, self-custody also comes with a number of security, operational, and legal risks.Risks associated with self-custodySource: Binance Research The risks associated with self-custody are amplified for institutions. Their role is to manage large amounts of capital and serve as fiduciaries for their clients. Institutions are accountable not only for their own assets but also for the assets of others. Furthermore, the capital that institutions are managing is often levels of magnitude greater than most individual investors. As such, self-custody for institutions involves amplified security, operational, and legal risks. They can choose to face these risks and custody their own funds or outsource this job to a professional custodian.Pros and cons of self-custody for institutionsBefore deciding how to store crypto, institutions should be aware of the pros and cons of self-custody. Institutions can benefit from self-custody with reduced costs, increased control, and superior decentralization. However, there are numerous disadvantages that institutions should also consider. Pros and cons for institutions considering self-custodySource: Binance Research The weight of these will vary for each institution. For some, the cons of self-custody will clearly outweigh the pros. In these cases, institutions will often elect to utilize the services of an institutional custodian. Institutional custodians apply established best practices to manage institutional assets. Additionally, institutional custodians may offer other exclusive benefits that the institution can use to enhance its custodial and investing processes.Key Trends to WatchAs the industry matures, here are some key trends to keep an eye on.Trading and asset offeringInstitutional custodians are starting to look like TradFi prime brokerages. Institutional custodian offerings are no longer limited to custody but include numerous other services. Over time, as crypto becomes more financialized and institutions develop more ways to leverage this new asset class, institutional custodians will increasingly need to provide prime brokerage-like offerings and meet demand head-on.RegulationInstitutional custody regulations are evolving in many jurisdictions. Most recently, on May 16, 2023, the Council of the European Union adopted Markets in Crypto Assets (MiCA) regulation, making the EU the first major jurisdiction with a crypto licensing regime. MiCA takes a page from the existing client asset rulebook while adding new, explicit requirements for crypto institutional custodians.Over time, further regulatory developments will help clarify the standard practice. This is a critical theme to watch as many institutional investors are demanding regulatory clarity before allocating their assets to institutional custodians. TradFi competitionAs regulatory environments become clearer and institutional clients demand exposure to crypto assets, established TradFi custodians have begun offering crypto custody. In the future, TradFi custodians will continue to enter the institutional custody space. Crypto-native service providers will have to compete with traditional custodians’ established reputations and, typically, outcompeting assets under management. Furthermore, institutions have been shown to prefer TradFi custodians, with many indicating that they would be more likely to increase their crypto exposure if they could do so via a highly-rated, established financial institution. As TradFi custodians continue to emerge in the digital asset space, crypto-native custodians will face further competition.Closing ThoughtsThe institutional custody industry is rapidly evolving, attempting to keep pace with the growing demand from institutions seeking exposure to crypto. Institutional custodians are creating innovative offerings tailored to institutions’ preferences and redefining custodianship in crypto. As awareness of blockchain technology and cryptocurrencies grows, the role of institutional custodians becomes increasingly essential. Institutions will continue to look for solutions that ensure the safety of their assets. Furthermore, they will want to engage with the innovations of blockchain technology. Custodians will be vital in offering the peace of mind many financial firms require to invest in crypto. Ultimately, institutional capital and their custodial counterparts will help blockchain technology to mature, develop, and achieve greater adoption.Binance ResearchThe Binance Research team is committed to delivering objective, independent, and comprehensive analyses of the crypto space. They publish insightful takes on Web3 topics, including, but not limited to, the crypto ecosystem, blockchain technologies, and the latest market trends. This article is only a snapshot of the full report, which contains further analysis of the institutional custody sector and features an industry map. It also offers key charts and figures helpful for understanding the context, describes different types of institutional custodians and services they offer, and much more. With such rich content, you won’t want to miss these exclusive insights. To read the full version of this report, click here. You can find other in-depth investigations of the latest Web3 developments by visiting the Insights & Analysis page on the Binance Research website. Don’t miss the opportunity to empower yourself with the latest insights from the field of crypto research!Further ReadingBinance Research: Key Trends in Crypto – May 2023Binance Research: AI in Crypto – Exploring Use Cases and PossibilitiesBinance Research: Investigating the Rise of BRC-20General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice and is not a recommendation, offer, or solicitation to buy or sell any securities or cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer; they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive, and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given, and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ‘forward-looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies, or any investment strategy, nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.

Main TakeawaysBinance has secured a pair of sought-after certifications for meeting exacting international standards in information security governance and privacy information management in three European and Middle Eastern jurisdictions.A trusted external auditor awarded Binance the certifications following a comprehensive evaluation of our security and privacy systems and controls.Security and data protection are Binance’s top priorities. Your assets and data are always safe with us.We are excited to share that Binance has been awarded the coveted ISO 27001 and ISO 27701 certifications for information security governance and privacy information management in three jurisdictions across Europe and the Middle East: France, Bahrain, and the United Arab Emirates (UAE).Binance secured the ISO 27001 and ISO 27701 certificates for meeting the internationally recognized standards in information security governance and privacy information management, respectively. Building robust security and privacy measures has always been a key priority for Binance, and these ISO certifications are a testament to the company’s consistent efforts on these fronts.A-LIGN, the external auditor, – a technology-driven security and compliance partner trusted by more than 4,000 global organizations to help mitigate cybersecurity risks – awarded the two ISO certifications to Binance following a thorough and comprehensive evaluation of the security and privacy domains of its operations.Information Security and Data Protection at BinanceAccording to Jimmy Su, Chief Security Officer at Binance, information security governance is a critical aspect of modern organizations. By securing these internationally recognized certifications, Binance demonstrates that it has established effective controls and protections in these key domains.Su added: “Users on our platform can be assured that their assets and information are protected in line with the latest global standards. We have a team of highly experienced security professionals that are continuously improving, adapting, and innovating to ensure that Binance remains at the forefront of safeguarding the blockchain ecosystem.”Stewart Thompson, Chief Data Protection Officer at Binance, shared that the company’s data protection team works closely with other teams – including security, legal, compliance, and operations – to ensure that Binance meets the most rigorous global privacy requirements. “We’re glad to see our teams’ efforts rewarded with these independently accredited certifications. This is a significant milestone for us at Binance, as we continue to advance security and privacy standards within the blockchain space,” he noted.Continued Conformity and Geographical ExpansionMoving forward, Binance will be undergoing annual surveillance audits to ensure continued conformity with the standards set out within the ISO 27001 and ISO 27701 certifications. There are also plans to expand the certifications to other regions and obtain additional internationally recognized security, privacy, and compliance certifications.Undergoing third-party audits of our security and compliance practices is part of Binance’s broader commitment to building trust and reliability within the blockchain ecosystem through adherence to industry standards and regulations.

Main TakeawaysApart from being a financial investment vehicle, crypto can be used to empower people in other ways.Find out how it is helping to unlock financial services and opportunities for those who need it most.Financial inclusion. Borderless transactions. Economic opportunities. Learn how crypto helps empower people in vulnerable communities, such as displaced people.Cryptocurrencies have emerged as a powerful tool for disrupting industries and changing lives. With their decentralized and borderless nature, cryptocurrencies continue to ripple through our society, improving the world in various ways.Discover how cryptocurrencies play a transformative role in empowering vulnerable communities by providing them with tools and resources to regain control over their financial futures.Access to Financial Services“I believe crypto is the future of currency. It’s worth taking the time to understand the crypto ecosystem fully.” – Abubakar Hassan Muhammad, Nigerian Binance userCryptocurrencies and digital asset service providers can provide greater financial inclusion to individuals who don’t have access to traditional financial systems. Millions of people still cannot send or receive money, obtain loans, or make purchases via bank transfers. Crypto can help with this. Take Abubakar Hassan Muhammad, a 37-year-old Nigerian Binance user, for instance. In 2017, bank card limitations made it difficult for him to send funds abroad to support his brother. Seeking an alternative solution, he sent funds to his brother through Bitcoin, discovering a more efficient and cost-effective transfer method.Cryptocurrencies can even help facilitate access to microloans, crowdfunding, and international charity drives to support entrepreneurial initiatives and global causes that matter. Interested in how cryptocurrency powers the charitable sector? Read our blog post on How Cryptocurrency and Web3 Are Reshaping Philanthropy.Borderless TransactionsDue to their decentralized nature, crypto empowers users in challenging or uncertain situations where trust in institutions may be limited and often when all else has been taken from them.In particular, displaced individuals or communities – usually due to crisis or conflict – often experience a sense of loss in economic stability. Crypto can help secure necessities like food, water, and shelter to overcome challenges faced by displaced individuals.Last year, Binance launched the Binance Refugee Crypto Card as part of our efforts to help Ukrainians forced to leave their country. With the card, these displaced individuals can receive crypto payments and complete purchases at eligible EEA retailers.Cryptocurrencies also enable users more flexibility as they do not have to convert and incur foreign exchange fees when moving from one country to another. Economic Opportunities“Not only have the financial opportunities helped me to fend for myself and pay my bills; they have allowed me to live comfortably.” – Chairmankiriago (pseudonym), Kenyan Binance userAs an emerging field, crypto and Web3 have also opened unique income-earning or capital-generating opportunities. One Binance user, Chairmankiriago, shared: “Venturing into the crypto space opened my eyes to a world of opportunities – a crypto-rich network, alternative financial services, and potential income streams.” From crowdfunding to selling NFTs, there are various avenues where people can generate crypto capital or income. But crypto doesn’t just benefit those working in the industry directly – it can be used as an alternate form of salary for those without access to banking services. “I applied for a remote internship in a software company that paid salaries to bank accounts. Due to the current situation in Afghanistan, I could not set up a bank account. Thankfully, they were open to paying me in crypto – so I now have an internship!” shared an Afghan pilot program beneficiary.Driving Change Through Crypto“Crypto helped my family stay afloat in tough economic environments.” – Izugod (pseudonym), Nigerian Binance userWhether for earning or receiving, crypto and its unique qualities – borderless and decentralized – empower people to improve their quality of life. Learn more about how Binance Charity is leveraging crypto and blockchain for social change today.Discover Binance Charity Projects HereFurther ReadingHumanity First: Update on Ukraine EffortsMy Crypto Journey: How Crypto Opened Doors of OpportunityMy Crypto Journey: Binance, My Solution for Personal Financial Management

Submit Creator Application HereMain TakeawaysOne of the latest additions to the Binance app, Binance Feed is your one-stop shop for all the latest news and trends in crypto and Web3.You can now apply to become one of the first batch of creators to have their voices heard on the Binance app itself.Are you a crypto or Web3 content creator? Have your voice heard by millions of Binance app users!Binance Feed is a one-stop shop for engaging content and interesting social discussions on crypto and Web3 — and it’s right on your homepage on the Binance app. Better yet — with Binance Feed, users will never have to miss a Binance or industry update again.We’re now recruiting creators to join some of the leading voices in the crypto sphere to share their analyses, opinions, and new ideas with the world's largest active crypto community. If you’re passionate about all things crypto and Web3, this is your chance to become a part of an exclusive pool of creators on a new content platform. Calling all Top CreatorsWhether you’re a crypto influencer, project team, or news publication covering blockchain, the metaverse, or everything in between, you can apply for a spot as a Binance Feed creator and ensure your posts are visible to millions of Binance app users. Below are three categories of content creators we’re seeking to join us.  Top KOLs Creators who are passionate about blockchain community-building and who love sharing insights, opinions, and educational content on the crypto industry.Crypto ProjectsProjects listed on Binance.com whose teams would like to keep readers on the platform regularly updated about their projects.Media Partners Media outlets that want to take control of their content, maximize exposure for their articles, and target more readership from those interested in the crypto space.Binance Feed Application RequirementsA minimum of 20,000 followers on Twitter or other social platforms.A keen understanding of the crypto industry and ability to discuss crypto-related topics such as trading, crypto markets, GameFi, SocialFi, NFTs, and the metaverse. Crypto-related KOLs, influencers, projects, media outlets, and Binance Angels are preferred.Created content must be in English.Become a Binance Feed Creator TodayReady to become a Binance Feed creator? Simply fill out the application form and the Feed team will review your application within seven working days. Only successful applicants will be notified. Our business development manager will contact successful applicants using the personal contact details provided in their application forms.Terms and ConditionsPlease note that we will collect some personal data in order to process your application form and facilitate your participation on the platform, which shall be handled in accordance with our Binance Privacy Policy.We reserve the right to decide whether or not to accept your application. All such decisions shall be final and non-appealable. Successful applicants accepted as creators on the platform must agree to the Binance Feed Community Platform’s terms and conditions (which include its Community Guidelines), Feed Creator content guidelines, and all other applicable terms and requirements that may be imposed by us from time to time, before and during your use of the platform.

Update your app and explore engaging Web3 content on your homepage with the new Binance Feed.Today, we’re excited to announce a major update that will connect Binance users to the world of Web3 in real time. Whether it's the latest news on the crypto economy, trending topics among the community, or insightful articles on over 400 topics related to crypto and blockchain,  Binance has always strived to create timely, engaging content for our users. Until now, however, there’s never been a seamless way to access Binance content on a single platform. What is Binance Feed?We’ve redesigned the Binance Pro mode homepage to make content discovery effortless. Users can scroll down to discover the new Binance Feed at the bottom of the homepage on the Pro version of the Binance app. The new Binance Feed displays a range of content as it goes live, connecting users to the latest news, events, and insights in Web3. And as you explore the Binance Feed, our system will automatically recommend content based on what you click on and read.Binance Feed features over 650 crypto figures, analysts, Web3 projects, and crypto media sources, allowing users to take advantage of a wealth of professional and vertical crypto information. Whether you're interested in trading or want to learn more about NFTs, there’s something for everyone.The web version of Binance Feed will also be available, allowing users to view Academy and Flash News content, announcements, creators’ posts, and live posts using their web browsers.Through the web version of Binance Feed, users can also view creator profiles and follow creators, while creators can edit their posts.Start Exploring Web3 on BinanceUpdate your Binance app to browse the new Binance Feed today! New to Binance? Get started by creating a Binance account and downloading the app.

Main TakeawaysIn this article, you will learn about common crypto scams that occur on the peer-to-peer (P2P) market in developing countries, as well as how to identify and avoid them.In particular, you will learn how to identify fake proofs of payment and how to handle chargeback scams.At Binance P2P, we take the security of our users very seriously. As such, we want to make sure you’re aware of the most common P2P scams as well as how to avoid them.If you’ve been a victim of a scam or suspect you are being scammed in a P2P transaction, keep reading. Here are the most common scams and how to avoid them:Fake Proof of Payment The fake proof of payment scam involves a counterparty sending you a fake receipt and pressuring you to release the crypto quickly without first verifying you have received the money in your account. Fake proofs of payment are usually identifiable because they often contain characters of different sizes, fonts, and colors. Sometimes, the words are also superimposed. Here are some real-life examples.Example 1Fake Payment ProofGenuine Payment ProofThe green check symbol appears above the sent amount.The green check symbol is always to the right of the sent amount.The wallet transaction ID begins with 1.The wallet transaction ID never begins with 1.The green check symbol appears on all transaction types.The green check symbol appears only when UPI is used.App UI is outdated.Updated app UI Example 2Fake Payment ProofGenuine Payment ProofSender and recipient account details have different color fontSender and recipient account details using the same font style and colorDate & Time font in bold black colorDate & Time use the same font color as the AmountTime did not use the proper 12-hour clock formatsTime use the proper 12-hour clock formats (00:00 AM/PM)There is no spacing after comma in the DateAfter comma there is spacing before the year number is statedExample 3Fake ProofGenuine ProofOverlapping texts in screenshots.No text overlap.UPI transaction ID begins with 1.UPI transaction ID never begins with 1.Mismatched fonts.No mismatched fonts.The logo appears at the bottom-left side of the screen.There is no logo at the bottom of the screen. Instead, you should see “Having issues?” and “Split with friends” options.UPI reference number starts with 1.UPI reference number starts with 2 or 3.Example 4Fake Payment ReceiptGenuine Payment ReceiptTransaction ID is at the top of the payment receipt.Transaction ID is on the drop-down menu under “Transfer Details”Bank name displayed on screenNo bank name displayedNo icon to view history or share receipt on the screen.The icon to view history and share receipt is available under transfer details.Faded fontBold fontUPI reference number starts with 1UPI reference number starts with 3Example 5Fake Payment ProofGenuine Payment ProofUPI reference number starts with 1UPI reference number starts with 2 or 3Always make sure to check your bank account or wallet to confirm you have indeed received the money due to you from a P2P transaction.Paid but Canceled ScamThis scam starts with a user with limited transaction history placing a sell ad. Once a buyer accepts the order and makes the necessary payment, the seller does not release the order. They either claim that there is an OTP issue, that they are unable to release the order due to a technical glitch, or that they do not wish to sell the assets anymore.The seller then requests for the buyer’s wallet address or Pay ID / UPI in order to refund the amount — but only if the buyer cancels the order. They then convince the counterparty to cancel the order and promise to immediately refund the amount paid. Alternatively, they claim that all their assets are locked in this open order and that they can refund the paid amount after the buyer cancels the order.Once the buyer cancels the order, however, the seller does not refund the amount, causing the buyer to suffer a loss. How to avoid this scam:Do not cancel the order without first receiving your refund, no matter what the counterparty says.If the counterparty says or does anything suspicious, raise an appeal and let the Binance support team handle it.If the seller does not release the order after confirming they’ve received your payment, raise an appeal so our support team can release the order for you.ChargebacksIn the context of P2P crypto transactions, a chargeback happens when a buyer requests their funds back after you’ve released the crypto to them and received your money. If this chargeback request on their payment method is successful, you’ll end up losing both the crypto you sold and the money you received.Chargebacks are possible because some third-party payment options allow their users to reverse P2P transactions even after they’re completed. To justify their chargeback request, the counterparty may fabricate alibis, such as inconsistent account details.How to avoid this scam:Choose secure payment methods that don’t offer chargebacks.Check the user's reputation for potential risks.Verify your trade partner's name.Don't accept third-party payment methods.When you create an ad, make it clear in the terms that you don’t entertain third-party payments.Ask to cancel the transaction if your trade partner insists on a third-party payment method.If you receive a third-party payment, gather any information you can on the account that sent you the payment.If you have already been a victim of a chargeback scam, contact Binance CS and request a receipt of the transaction so you can present proof of the transaction to the investigation authorities.Alternatively, you email p2p@binance.com to request a receipt of the order for which the chargeback has been raised and CC the investigation officer. We will reply to your email with the order receipt.To request an order receipt, all you need to do is:Initiate a chat with the Binance Live Chat Support Team.Share the Order ID on which you have received the chargeback request.Your order receipt will be shared with you.Binance CS ImpersonationThis scam involves the seller asking the buyer to share their phone number and make payment for an order. Once the buyer does so, the seller calls the buyer while impersonating a Binance CS officer and asks them to cancel the order. Trusting the call to be from Binance, the buyer cancels the order and loses their money.How to avoid this scam:Do not share your personal information with any counterparty.Remember that Binance CS will never contact you using your personal phone number regarding an ongoing order.Any such suspicious call should be immediately reported to our Live Chat support team or to p2p@binance.com.Triangle scamThis scam typically involves two scammers. For instance, one posts a sell ad on Binance P2P and a genuine buyer places an order of $100 on the ad, makes the payment, and shares proof of payment via an external channel instead of on the Binance P2P order chat. The first scammer (who posted the ad) then asks a second scammer to place an order of the same amount on the ad.After this, they share the proof of payment from the genuine buyer with the second scammer via an external channel. The second scammer then shares the same payment proof on Binance chat, asking the first scammer (who posted the ad) to release the order. The first scammer releases the order to the second scammer, while the genuine buyer does not receive the crypto they paid for, nor their money back.How to avoid this scam: Never share payment proof outside Binance. Get Started With Binance P2PReady to start trading on Binance P2P? Register for a new Binance account or download the Binance app. Once you've completed the identity verification process, you can start buying and selling crypto on the Binance P2P marketplace.Further Reading(Blog) Intro to Peer-to-Peer Trading: What is P2P Trading and How Does a Local Bitcoin Exchange Work?(FAQ) How to Report P2P Scams on Binance App(Blog) How To Block A User On Binance P2PDisclaimer: Your use of Binance P2P services and all information and other content (including that of third parties) included in or accessible from Binance P2P services is at your sole risk. Our only responsibility is to handle crypto transactions. All payments are final upon completion unless otherwise required by law. The Binance P2P platform has neither the right nor obligation to resolve any disputes arising from a completed payment. Neither the Binance P2P platform nor its merchants shall be responsible for any loss after a completed payment.

We are excited to welcome Rachel Conlan as Binance’s Vice President of Global Marketing. Rachel will oversee and manage our regional and global marketing teams across the world to help reinforce and expand Binance’s position as a trusted industry leader in the crypto space. Rachel brings to Binance a wealth of experience at the highest level which included heading Global Partnerships at CAA Sports, a leading international sports and entertainment agency, where she developed brand partnerships to improve its market influence in the industry.She also served as the Global Chief Marketing Officer for Havas, pioneering strategies for business development and revenue growth."With Rachel's extensive experience, she will help propel the industry forward, introducing more people to blockchain, familiarizing them with Binance, and collectively building this still very early-stage industry," said Binance Co-Founder Yi He.In pursuit of a broader crypto awareness and adoption, Rachel will help Binance push the boundaries of our marketing efforts on several fronts, including engaging untapped demographics, working with policymakers, and connecting with industry heavyweights. The role she plays is pivotal in leading the world into the new era of Web3.Rachel is also poised to take charge of Binance’s existing and future brand partnerships. She will be at the helm of our current campaigns, including Cristiano Ronaldo, The Weeknd, Alpine Formula 1, and Khaby Lame, to advance our global marketing endeavors. Her work will involve exploring innovative brand collaborations and driving broader conversations with influential leaders on the role of digital assets."I am thrilled to be embarking on this journey with Binance, a truly world-class organization that has garnered the trust of millions globally,” says Rachel. “I'm eager to collaborate with an incredibly talented team, and together, we aim to enlighten and align with our leadership to fulfill our mission of ushering a billion users into this dynamic and exciting industry." Further ReadingBinance brings in renowned Europol cryptocurrency expert, Jarek Jakubcek, as Head of Intelligence and Investigations APACMeet The VP of Public Affairs: Joanne Kubba Talks Crypto, Innovation, and Sound RegulationBinance Appoints Former US IRS Special Agent Amjad Qaqish as Director of Global SAR Reporting

We are disappointed that the U.S. Securities and Exchange Commission chose to file a complaint today against Binance seeking, among other remedies, purported emergency relief.  From the start, we have actively cooperated with the SEC’s investigations and have worked hard to answer their questions and address their concerns.  Most recently, we have engaged in extensive good-faith discussions to reach a negotiated settlement to resolve their investigations.  But despite our efforts, with its complaint today the SEC abandoned that process and instead chose to act unilaterally and litigate.  We are disheartened by that choice. While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously.  Unfortunately, the SEC’s refusal to productively engage with us is just another example of the Commission’s misguided and conscious refusal to provide much-needed clarity and guidance to the digital asset industry.Today’s action is another in a line of examples where, as with other crypto projects facing similar suits, the Commission has determined to regulate with the blunt weapons of enforcement and litigation rather than the thoughtful, nuanced approach demanded by this dynamic and complex technology. Unilaterally labeling certain tokens and services as securities – even ones over which other U.S. authorities have asserted jurisdiction – only compounds these problems.Perhaps most surprising, the SEC’s actions undermine America’s role as a global hub for financial innovation and leadership.  Digital asset laws remain largely undeveloped in much of the world, and regulation by enforcement is not the best path forward.  An effective regulatory framework demands collaborative, transparent, and thoughtful policy engagement – a path the SEC has abandoned.And, to be clear: any allegations that user assets on the Binance.US platform have ever been at risk are simply wrong, and there is zero justification for the Staff’s action in light of the ample time the Staff has had to conduct their investigation.  All user assets on Binance and Binance affiliate platforms, including Binance.US, are safe and secure, and we will vigorously defend against any allegations to the contrary.  Rather, the SEC’s actions here appear to be in service of an effort to rush to claim jurisdictional ground from other regulators – and investors do not appear to be the SEC’s priority.  Because of our size and global name recognition, Binance is an easy target now caught in the middle of a U.S. regulatory tug-of-war. It seems based on these developments that the SEC’s goal here was never to protect investors; if that were truly the case, the Staff would have thoughtfully engaged with us on the facts and in our efforts to demonstrate the safety and security of the Binance.US platform.  The SEC’s real intent here, instead, appears to be to make headlines. We will continue to cooperate with regulators and policymakers in the U.S. and across the globe because that is the right thing to do.  And Binance remains committed to productive engagement to ensure the next generation of cryptocurrency regulation fosters innovation while implementing and ensuring important consumer protections. Because Binance is not a U.S. exchange, the SEC’s actions are limited in reach.  Still, we stand with digital asset market participants in the U.S. in opposition to the SEC’s latest overreach, and we are prepared to fight it to the full extent of the law.We will work alongside industry partners to defend this important technology from misguided lawsuits.  And we will maintain our unceasing efforts to deliver a safe and trusted platform for our users that holds true to our core value of furthering the freedom of money.