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Main TakeawaysA hawkish Fed and firm inflation kept macro conditions restrictive, pulling total crypto market cap down 16.9% to $2.13T as ETF outflows deepened and altcoin selling hit a five-year extreme.That caution showed in OTC flows, which stayed defensive and anchored in stablecoin and fiat corridors Through it all, our desk keeps raising the bar – launching Binance Execution Services (BES), bringing Spot RFQ, execution, live charts, and dedicated trader chat into one dashboard.Welcome to the sixth edition of the Binance OTC & Execution Services Monthly Digest. In this issue, we review a June defined by tighter liquidity and a firmly hawkish Federal Reserve, as reaccelerating inflation, elevated yields, and a stronger dollar kept macro conditions restrictive. We also examine what deepening ETF outflows, defensive positioning, and a broad altcoin drawdown signal about institutional conviction. Finally, we highlight how our desk can scale accumulation beyond the limits of self-serve tools.Binance Execution Services Gets a Major UpgradeBinance OTC recently launched Binance Execution Services (BES), bringing Spot RFQ, Execution, live charts, and dedicated trader chat into one dashboard.To see it in action, watch Adam Bull, Binance OTC & Execution Services Lead on Binance VIP Voices, where he covers the full BES suite, its benefits for your operations, and the latest upgrades built for faster, smarter OTC trading, via this Binance Square Live replay.June 2026 Crypto Market Analysis: Tighter Liquidity and a More Hawkish FedRestrictive Macro and a Reaccelerating BackdropJune was defined by a Federal Reserve that decisively reinforced its higher-for-longer stance, leaving U.S. macro conditions restrictive throughout the month. Geopolitical risk flared after President Trump confirmed U.S. strikes against Iran on June 10, sending WTI crude toward $88, before a signed MOU eased the tail risk by mid-month – crypto barely responded, a sign that attention had shifted to U.S. equities, AI, and rates. With May CPI climbing 4.2% year-on-year, the June 17 FOMC held rates steady but reinforced the higher-for-longer regime, while elevated Treasury yields, a firm dollar, and another Bank of Japan hike kept liquidity tight.A Hawkish Fed and Fading ETF SupportBinance Research noted that total cryptocurrency market capitalization declined 16.9% to $2.13T – exposing the market's dependence on ETF inflows that never materialized, as BTC net outflows held at around $2.2B. Altcoin selling reached a five-year extreme, with a hawkish, Warsh-led FOMC and collapsed Iran ceasefire talks confirming April's bounce as a relief rally rather than a genuine recovery.Market Structure and BTC OutlookInstitutional appetite cooled sharply, with defensive positioning throughout the month: put buying, negative funding, USDT trading around 10 basis points below parity, and a Fear & Greed Index in extreme fear. BTC broke below channel support to a low of $57,800 before buyers stepped in, but repeatedly failed to reclaim $67,000–68,000. With price below the descending trendline from the October 2025 high near $126,000, the structure remains bearish. Altcoins stayed under broad, macro-driven pressure, underscoring that selective exposure still matters more than broad beta. For additional market commentary, read our weekly updates on Binance Square.Institutional Crypto OTC Trading Flows: What We Saw in June 2026June OTC flows remained anchored in stablecoin and fiat activity, with the core dollar corridor again driving the bulk of turnover as clients continued to favor on-ramping over crypto beta in a defensive macro environment.Stablecoin and Fiat OTC VolumeStablecoin/fiat pairs dominated the month, led by the core USDT/USD corridor. USDC/USD, USDT/BHD, and USDT/MXN followed, underscoring sustained demand across the Mexican peso corridor. Further turnover spanned USDT/USDC, USDT/BFUSD, XUSD/USDT, and the euro-denominated EURI/EUR, reflecting the breadth of currencies and stablecoin rails in which the desk maintains deep liquidity. Activity spanned USDT, USDC, USD1, BFUSD, XUSD, and EURI, reflecting a broadening set of rails and growing demand for non-dollar options.Crypto and Altcoin ActivityTrading in the majors centered on BTC, ETH, and BNB, including sizable ETH/BTC flow. Beyond the majors, we facilitated a diverse range of altcoins – including APT, FIO, FIS, KDA, LTC, PENGU, SUI, TRX, VOXEL, WLD, and XRP – alongside long-tail names such as BNC and SPCXB, highlighting our client base's varied investment mandates. Fiat-to-crypto flows also included KZT/BTC, reinforcing the desk's multi-currency execution across both stablecoin and crypto settlement.Multi-Currency Fiat ExecutionTrading volumes were executed across AED, ARS, BHD, BRL, COP, EUR, KZT, MXN, and USD, reflecting the global reach and multi-currency execution capabilities of our desk.Algorithmic Execution for Big Scale Accumulation: 40,000 BNB TWAP Case StudyThis month, our desk supported a client looking to accumulate a significant BNB position. Buying the full size in a single order would have driven significant market impact and slippage on the orderbook, so our traders advised routing it through a TWAP (time-weighted average price) algorithm as part of our Execution services offering.Firstly, we executed a 12-hour TWAP order to purchase 20,000 BNB, spreading fills across the window to minimise price spillage, with the client kept informed at regular intervals. The order settled smoothly over the scheduled window. Satisfied with the result, the client returned to accumulate another 20,000 BNB order on the same terms, bringing the total to 40,000 BNB. This repeat engagement is a clear signal of conviction in the desk's ability to execute scaled accumulation with discipline and transparency.While clients can run algorithmic orders themselves via self-serve tools, it caps at 2M USDT per order and requires the pair's trailing 24-hour volume to exceed 10M USDT. Executing through the OTC desk removes that ceiling entirely – with no upper size limit on trade tickets – letting clients run large accumulation programs while retaining full algorithmic discipline and dedicated trader oversight.Binance OTC & Execution Services: Institutional Crypto Liquidity PlatformBinance OTC & Execution Services is a premier, one-stop solution for executing large or complex crypto trades with confidence and discretion. We support all assets listed on the Binance Spot market, including direct and cross pairs, covering over 445 crypto and fiat assets, one of the broadest OTC asset selections in the industry. Clients benefit from:Zero exchange fees with market-competitive spreadsDedicated traders delivering institutional-grade execution on every orderAccess to deep, multi-venue liquidity pools, the deepest in the industryFlexible settlement options and no upper size limits on trade ticketsFast-Track Your VIP Status Through OTC TradingYour OTC trading volume counts toward your VIP tier – at a 4x multiplier. In other words, every $1 you trade through Binance OTC & Execution Services counts as $4 toward your 30-day spot volume requirement. This applies across the entire OTC suite, from crypto-to-crypto to stablecoin-to-fiat and everything in between – making OTC one of the fastest ways to reach, and keep, your VIP status.Here's how much OTC volume you need to qualify for each tier:VIP Level30-Day Spot Volume RequirementOTC Equivalent (with 4x Multiplier)VIP 1$1,000,000$250,000VIP 2$5,000,000$1,250,000VIP 3$20,000,000$5,000,000VIP 4$75,000,000$18,750,000VIP 5$150,000,000$37,500,000VIP 6$400,000,000$100,000,000VIP 7$800,000,000$200,000,000VIP 8$2,000,000,000$500,000,000VIP 9$4,000,000,000$1,000,000,000For example, executing $250,000 in OTC volume within a rolling 30-day period – combined with the required BNB holding – is enough to qualify for VIP 1 status. Every OTC pair counts, whether you're trading BTC, ETH, stablecoin-to-fiat, or long-tail altcoins.Final ThoughtsJune reinforced a market still waiting on liquidity. A hawkish Fed and stubbornly firm inflation kept conditions restrictive, and easing geopolitical risk wasn't enough to draw institutional capital back. BTC broke key support before stabilizing, while altcoins bore the brunt of broad, macro-driven de-risking.That caution showed directly in flow, with activity anchored in stablecoin and fiat corridors as clients favored on-ramping over crypto. Yet execution demand stayed broad – from multi-currency fiat settlement to large-scale algorithmic accumulation. Meeting that demand is what Binance OTC & Execution Services does best, delivering liquidity, discretion, and execution certainty exactly where clients need it.Contact Binance OTC & Execution ServicesBinance OTC & Execution Services is accessible via the Binance website. Contact the OTC Trading Desk at @Binance_OTC_Desk on Telegram or email trading@binance.com to get started.For bespoke execution support or to discuss the themes covered in this digest, contact your account manager or reach out to our OTC desk directly.Further ReadingBinance VIP Program Criteria Update: Lower VIP 3 Holding Threshold and Integrate OTC Trading Volume into Spot VolumeBinance Execution Services Gets a Major Upgrade: Faster, Smarter OTC Trading – All in One DashboardBinance OTC Monthly Insights - June 2026Disclaimer: 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. Options trading, in particular, is subject to high market risk and price volatility. Past performance is not a reliable predictor of future performance. There is no guarantee that an IOI will result in a binding transaction. An IOI is not a market order. Binance does not act as your adviser or agent. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use and Risk Warning.

Main TakeawaysBinance commands a 74% share of total ETF TradFi-Perp volume, roughly US$116 billion – up from an 18% share at launch in March 2026.The platform’s lineup now spans 146 TradFi perpetual pairs, with 35 added in the past month, covering broad indices, semiconductors, country themes, plus leveraged and inverse strategies.In July, ETF perps made up 19% of all TradFi-perp trading on the platform, with leveraged sector exposures among the most-traded names.Over the past few months, global ETF volumes have recently hit a record $23 trillion, and that appetite has carried over into the crypto world. As TradFi ETF perps gain traction, the data shows Binance has captured the clear majority of the volume.It’s one more sign that Binance is becoming the home base for the modern investor, who increasingly wants crypto alongside a broad suite of traditional finance products, including stocks, perps, and tokenized securities, all under a single roof.The Numbers Behind the LeadIn just a matter of months, ETF perps have gone from nonexistent to a rapidly expanding market worth over $116 billion – and Binance handles 74% of it, up from 18% when the category first launched in March 2026. ETF perps also now make up 19% of all TradFi-perp trading.Part of Binance’s rapid growth in the sector can be traced back to liquidity, which has a way of compounding. Deeper order books mean tighter spreads and less slippage, which draws in more traders, whose activity only deepens the books further – in short, a liquidity flywheel. Liquidity, however, is only part of the picture. A closer look at what Binance users trade highlights why certain ETF exposures attract outsized interest in perpetual futures form.Multiple Ways to Express Market ViewsBinance’s TradFi perpetual lineup now includes 146 pairs, with 35 added in the past month alone. Coverage includes: broad-market ETFs, such as SPY and QQQ; sector themes, such as semiconductors; country themes; plus leveraged and inverse products.Trading activity also clusters in exposures that can be harder to reach through traditional routes — whether by time zone or by jurisdiction. This type of pattern can occur when traders prefer 24/7 access and derivatives mechanics, including the ability to go long or short and use leverage, instead of trading only during an ETF's market hours.Final ThoughtsETF perpetuals remain small compared with traditional ETF markets, which trade in the trillions of dollars per month. Even so, the growth of ETF perpetuals indicates rising demand for products that connect crypto trading infrastructure with TradFi-linked exposures.It’s also just one piece of Binance’s financial super app vision. Our users can express their market views through an entire lifecycle of products: perpetual futures, direct stock trading settled in stablecoins, and tokenized securities on-chain. Each product runs on its own infrastructure but can all be accessed on Binance. Traders can move between a broad menu of both crypto and TradFi-linked products with deep liquidity and intuitive tools. For traders, that means fewer platforms, and more ways to express a view.Further ReadingThe Future of Finance is Tokenized168 Hours a Week: How Binance is Extending TradFi AccessTradFi Perpetuals on Binance: Trade Commodities and Stocks 24/7Disclaimer: 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. TradFi Perps are subject to high market risk and price volatility (particularly outside traditional market hours). You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. TradFi Perps do not represent ownership of the relevant underlying asset. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Clearing Rules, Clearing Procedures, Contract Specifications and Risk Warning.

Main TakeawaysA typical brokerage is open roughly 32.5 hours a week and covers a limited set of product categories. Binance runs 168 hours a week, covering everything from pre-IPO perps to leveraged equity ETFs in one account.One account carries an investor through the full lifecycle of a modern portfolio — direct stocks, tokenized securities, yield, credit, and perpetual futures on ETFs, commodities, and pre-IPO companies.Binance's own data shows real demand for always-on access: a meaningful share of trading volume happens outside the regular hours of the market an asset is based in.Markets have always run on someone else's schedule. Binance is building the layer that removes that limit. One account, open all week, covering everything from pre-IPO exposure to ETF perps. This piece looks at how that model is scaling, and what the early data says about demand for always-on access.The Problem: A Part-Time MarketEvery major traditional market has fixed hours. Stock exchanges keep set trading hours, options desks close over weekends, and derivatives on a given country's equities are often only reachable through a broker based in that country. Most brokerages also separate asset classes into different accounts entirely: one for stocks, another for options, and another for futures or yield.This reflects how traditional financial infrastructure was built, one exchange, time zone, and regulatory perimeter at a time. A typical brokerage is open roughly 32.5 hours a week. For the other 135-plus hours, positions can't be bought, sold, hedged, or accessed at all.Binance: More Categories, More Hours, One AccountBinance runs 168 hours a week. One account carries an investor through the full lifecycle of a modern portfolio.Picture what that looks like: exposure to a semiconductor leader, gold, and a company that hasn't IPO'd yet, all in the same account, at three in the morning on a Sunday. No branch is closed. No second login required.Benchmarked against a typical traditional brokerage, the difference in scope is stark. A conventional account covers stocks, yield products, and credit or margin, with options coverage depending on the provider.Binance covers all of that and more, all week: perpetual futures on pre-IPO companies, ETFs, and commodities, alongside direct stocks, tokenized securities, yield, credit, and the ability to move between products as opportunities shift.The question is whether covering more categories and more hours actually gets used, or just looks good on a fancy comparison table. The trading data is a good place to check. It's the newest category on the list with no legacy volume to hide behind. Whatever growth it's seen had to be earned from a standing start.Access Is the ProductMany U.S.-listed ETFs trade only during U.S. market hours, often inconvenient for traders in other time zones, while derivatives on a given country's own exchange depend on local brokerage access. For users who wanted a given exposure but couldn't easily get it, that access gap was the real cost.The data shows the effect. Even for U.S.-listed products, a meaningful share of demand lands outside the regular U.S. session — 31% of trading volume in some US-listed equity ETFs happens outside regular U.S. hours. When an asset's home market is closed, or geographically walled off, the exposure simply isn't reachable through conventional channels.Binance's perpetual contracts close that gap. When a local market shuts users out, whether by time zone or by geography, Binance builds a way back in. Final ThoughtsTraditional finance runs on fixed hours and separated accounts because that's how it was built, one exchange, one market, one asset class at a time. Binance was built around a different idea: what does a market look like with none of those limits? The early data, from ETF perps to global exposures trading from the same account, suggests real demand for the answer. None of it replaces what an investor already has. It just picks up where that stops.Today's numbers are just the opening chapter. The pool of investors who want to trade around the clock, hedge outside normal hours, or reach a name that's geographically locked is only growing. Further ReadingETF Perpetuals on Binance: From Zero to 74% of the Market in 90 DaysThe Rise of Binance as the 24/7 Global MarketPerpetual vs. Deliverable Futures on Binance: What’s the Difference?Disclaimer: 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. TradFi Perps are subject to high market risk and price volatility (particularly outside traditional market hours). You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. TradFi Perps do not represent ownership of the relevant underlying asset. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Clearing Rules, Clearing Procedures, Contract Specifications and Risk Warning.Disclaimer: 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.

Main TakeawaysThe Binance P2P Skill is an AI-powered assistant that lets you trade P2P through natural conversation without needing to navigate through menus or filters.From checking live rates and reviewing orders, to tracking disputes and managing ads at scale, it turns everyday P2P tasks into simple, spoken requests.Built for everyone from casual traders to high-volume merchants, it needs minimal tech know-how — just plain language, and a quick API key setup for personalized features.Comparing rates, checking your orders, managing your ads. These are the everyday tasks of P2P trading. Yet every one of them takes more clicks than it should. The Binance P2P Skill changes that. Instead of menus and filters, you get an AI-powered assistant that you can use to trade P2P through natural conversation. It’s built for traders who want quick access to pricing and orders without the full P2P interface, merchants who juggle multiple ads and need to update them fast as the market moves, and anyone else who’d rather just ask instead of having to click. In this blog, we’ll cover what the P2P Skill does, how it works, and how to get started.What the Binance P2P Skill DoesThe P2P Skill covers three levels of functionality, each unlocking more as your needs grow:1 / Browse & Compare (no API key needed)Check real-time P2P prices for any crypto/fiat pairSearch advertisements with custom filtersCompare rates across different payment methods2 / Manage Your Orders (API key required)Check your order history and detailsTrack appeals and complaint statusSubmit evidence for ongoing disputes3 / Run Your Business (API key + merchant permission required)Publish, update, and manage advertisementsView merchant profile and statisticsHandle ad operations at scaleHow It Works in PracticeComparing RatesInstead of manually checking each payment method, ask:“Compare USDC/USD prices for Bank A vs Bank B”The skill fetches live data, shows you the best rates for each method, and highlights the price difference – so you can see your options at a glance.Checking Your OrdersWhen you want to review your recent trades, ask:“Show my last 10 P2P orders”Your order history appears instantly – status, amounts, rates, timestamps – all in one place.Managing Ads at ScaleWhen you’d like to adjust pricing across your ads, ask:“Update my USDT/USD buy ad to 1.10”The change is applied immediately. You no longer need to navigate through dashboards or edit each ad individually.Tracking DisputesWhen you need a quick update on an ongoing appeal, ask:“What's the status of my appeal for Order ID 12304223456789?”This skill returns the full timeline and current status, so you’ll never again have to spend extra time digging through the complaint center.Do You Need Technical Knowledge to Use the Binance P2P Skill?Not at all. The Skill is designed for everyday users. You can interact with it in plain language, the same way you’d ask a colleague a question. For public features like price checks and ad searches, there’s no setup required. For personal and merchant features, you’ll just need a Binance API key, which only takes a few minutes to configure in your account settings.While the Skill is easy to use, P2P trading still carries risks. Always do your own research.Binance P2P Platform Versus the Binance P2P SkillThe Binance P2P platform and the Binance P2P Skill serve different purposes. The platform is best for browsing, exploring, and visual discovery, while the skill is best when you know what you want and want it executed quickly.Getting StartedStep 1: Install the skillHead to the Binance Skill Hub to install the Binance P2P Skill.Step 2: Try a simple queryStart with something easy, like “What’s the current USDT/USD price?”, to confirm everything’s working.Step 3: Explore furtherOnce you’re comfortable, try asking about order history, ad management, and payment method comparisons.Security ConsiderationsThe Binance P2P Skill operates through official Binance APIs with standard authentication. This means that:API keys are stored locally in your environmentThe skill does not request withdrawal permissions as part of its functionalityAll data is fetched directly from Binance’s production systemsYou maintain control over which permissions to enablePlease note: users should review the permissions associated with their API key and always follow best practices for API key security.Final ThoughtsThe Binance P2P Skill brings the speed of conversation to everyday P2P trading. Instead of clicking through menus and filters, you simply ask for what you need: whether that’s checking real-time prices, reviewing your orders, tracking a dispute, or updating ads across your account. It’s the difference between hunting for information and simply having it. The result is less time spent on routine tasks, and more energy left over for the decisions that matter.Further ReadingIntroducing Binance P2P Merchant VouchersBinance P2P Appeals Explained – How to Handle Disputes and Protect Your FundsP2P Crypto Safety – How to Spot and Avoid Pay-to-Canceled-Order ScamsDisclaimer: 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. This content is for general information only and should not be construed as financial or investment advice. Products and services referenced may not be available in all regions and are subject to local regulatory requirements. Availability, features, and eligibility may vary by jurisdiction. For more information, see our Terms of Use, Binance Pay Terms of Use and Risk Warning.

Main TakeawaysHuman trafficking generated an estimated $528.5 billion in illicit proceeds in 2025 — proceeds that criminals attempt to move across the financial system, including through cryptocurrency.Binance has become the first crypto company to partner with STOP THE TRAFFIK, a global non-profit dedicated to preventing human trafficking and modern slavery.The partnership will combine blockchain expertise with frontline anti-trafficking intelligence to monitor and disrupt the financial flows behind exploitation.More than 49.6 million people are living in situations of modern slavery today, and the true figure is likely far higher. According to the latest NASDAQ 2026 Global Financial Crime Report, human trafficking generated an estimated $528.5 billion in illicit proceeds in 2025, growing 23.5% between 2023 and 2025.That money has to move, and cryptocurrency is one of the many channels traffickers use to exploit victims. As part of the financial infrastructure that criminals attempt to exploit, the crypto industry has a responsibility to help shut those pathways down.Today, Binance is stepping up to do exactly that. We’ve partnered with STOP THE TRAFFIK, a global non-profit dedicated to preventing human trafficking and modern slavery through intelligence-led action. In doing so, Binance becomes the first crypto company to join forces with the organization – combining blockchain expertise with frontline anti-trafficking intelligence to monitor and disrupt these flows.Combining Blockchain Expertise with Anti-Trafficking IntelligenceSTOP THE TRAFFIK brings deep, hard-won expertise in preventing human trafficking and modern slavery. At the core of its work are collaborations with financial institutions, technology companies, NGOs, and law enforcement — spanning the public, private, and non-profit sectors — to improve intelligence sharing and strengthen the collective response to exploitation.Together, the partnership is built to sharpen internal awareness, strengthen detection of emerging typologies, and feed into Binance’s wider compliance, investigations, and public-private collaboration efforts worldwide — helping to raise standards and build greater trust across the crypto ecosystem.“Financial crime prevention must continue to evolve to address the real-world harms that intersect with illicit finance, including human trafficking and related exploitation,” said Noah Perlman, Binance’s Chief Compliance Officer. “Our partnership with STOP THE TRAFFIK will help strengthen our understanding of these threats and enhance our ability to contribute meaningfully to efforts that protect vulnerable communities. Collaboration across sectors is essential to identifying and disrupting these abuses.”A Shared Sense of UrgencySTOP THE TRAFFIK sees the same urgency from the frontlines of the fight.“Human traffickers use a cynical business model to exploit their fellow human beings”, said Nick Dale, STOP THE TRAFFIK’s Director of Intelligence and Prevention. “This business model depends on financial systems to launder their money so they can enjoy their ill-gotten gains. We know that traffickers are increasingly using cryptocurrency to try and stay one step ahead of investigators, which is why this partnership with Binance is so important. “We should never forget that behind every piece of intelligence we provide, there is a unique story of harm, of hopes and dreams destroyed. By providing this intelligence, we can help target traffickers’ finances, disrupt their operations, and reduce the harm they inflict on millions of individuals globally.”Beyond intelligence-sharing, the collaboration will extend to training opportunities and ongoing engagement on emerging risk indicators and typologies. Working with specialist partners like STOP THE TRAFFIK further strengthens Binance’s compliance capabilities and reinforces our commitment to responsible industry practices.Final ThoughtsThis partnership is one part of Binance’s ongoing efforts to work alongside expert organizations, law enforcement, regulators, and industry stakeholders in the fight against financial crime. In 2025, Binance was glad to support law enforcement in the takedown of Kidflix, one of the largest child exploitation platforms. To date, Binance has assisted authorities on more than 313,000 law enforcement requests worldwide, and with the dedicated work of these partners, funds recovered or frozen with Binance’s support have surpassed $1 billion.Further ReadingHow Binance Assisted Law Enforcement in Taking Down a Child Exploitation PlatformBinance and DSCI Support India’s Narcotics Control Bureau in Darknet Drug Network CrackdownBinance Drives Responsible Growth Through Compliance and Law Enforcement Partnerships

Main TakeawaysMore than 90% of Direct Stocks and bStocks users on Binance come from emerging markets.Gen-Z investors make up nearly 44% of Binance’s equity users, making them the platform’s largest age group.Three users from North Africa and Vietnam share how Binance’s stock products made global equity markets more accessible by reducing the traditional barriers to entry.Disclaimer: Products mentioned may not be available in your jurisdiction. For decades, global financial markets weren’t equally accessible. In many emerging markets, opening an overseas brokerage account, transferring money internationally, and converting currencies made investing abroad far more difficult.Binance’s stock products are helping change that. Since Direct Stocks and later bStocks launched, more than 90% of Direct Stocks and bStocks users have come from emerging markets. Gen-Z investors also make up nearly 44% of the user base, making them the products’ largest age group. Easier access is resonating with a new generation of investors.Direct Stocks give eligible users access to more than 7,000 U.S.-listed stocks and ETFs using an existing Binance balance. Supported positions can also be converted into bStocks, which are tokenized securities that trade 24/7 on Binance Spot, and can be withdrawn to a compatible BNB Smart Chain wallet. For many users, that means global financial markets are becoming easier to access through the same platform they already use every day.We spoke with three Binance users in emerging markets about what changed once those barriers came down, and what it says about the next generation of investors.Reduced Barriers to AccessMouad, a 22-year-old investor from North Africa, first entered financial markets through forex before discovering crypto. As he learned more about investing, he wanted to diversify beyond digital assets, including into U.S. stocks. Before Binance launched Direct Stocks, he invested through a traditional international broker. The experience was far from ideal. “The UI is extremely hard, traditional, and outdated,” he says. “It crashed on me often. It’s reliable in the sense that it does what it’s supposed to, but it’s far from the best experience.”Funding his account proved to be an even bigger challenge. International transfers were slow and expensive, currency conversion added costs, and many brokers required much larger starting deposits than he was comfortable investing. “You can’t invest properly with $200, $300, or $500 because a big chunk of it disappears in fees,” he says. “A lot of the more reliable brokers won’t even accept amounts under something like $1,500 to start.”When Stocks on Binance launched, and allowed for fractional trading from as low as $5 per trade, he decided to test the product with a small Tesla purchase. “That was the dream coming true: no external bank hoops, no waiting,” he says. “Depositing and withdrawing happens in seconds.” Today, he sees stocks as a natural extension of his crypto portfolio to reduce concentration risk rather than a replacement for it. “Even if you’re deeply into one thing, you can never be 100% in it. You always have to diversify.”Looking Beyond the Local MarketA Binance user who goes by the name BlueTokenCapital has been investing for years, building a diversified portfolio across Vietnamese stocks, crypto, gold, and real estate. “For me, investing isn’t about choosing one asset class over another,” he says. “It’s about building a diversified portfolio that can perform across different market cycles.”Like many investors in Vietnam, he had long wanted exposure to global companies such as Apple, Tesla, Nvidia, and Microsoft. The challenge was access.“Opening an overseas brokerage account, completing identity verification, transferring money abroad, and dealing with foreign currency are all significant barriers,” he says. “Compared with opening a domestic securities account, investing directly in U.S. stocks has traditionally required much more effort.”When Binance introduced bStocks, he decided to give them a try. His first purchase was tokenized Tesla shares. “I mainly wanted to experience how the product worked,” he says. “I was impressed by how simple and seamless the process felt.”The experience also changed the way he thinks about diversification. “Instead of limiting myself to local markets, I now have an easier way to gain exposure to some of the world’s leading companies through a platform I’m already familiar with.” Today, he sees access to global companies as an important complement to his existing portfolio.From Crypto to StocksTai_Degen, as he’s known on Binance, is part of the Gen-Z cohort that makes up the largest group of Binance’s stock users. Like many people his age, he started with crypto rather than traditional finance. He entered the crypto market in 2022 and had never invested in stocks before Binance introduced its stock offering.“Opening an overseas brokerage account seemed complicated, with multiple verification steps, international fund transfers, and separate platforms to manage,” he says. “Since most of my assets were already on Binance, I preferred keeping everything in one ecosystem.”He made his first stock investment through Binance instead, choosing Nvidia because of its leadership in artificial intelligence.He believes many younger investors are making a similar transition, with a preference for platforms that provide simplicity, flexibility and convenience.“Many people around my age were introduced to investing through crypto because it is discussed much more actively on social media and online communities,” he says. “Traditional stock investing, especially in international markets, always seemed more complicated because of the account setup, regulations, and cross-border access.”As his portfolio grows, he plans to continue using both Direct Stocks and bStocks for different investment goals. “For long-term investing, I would likely choose Direct Stocks,” he says. “For more active portfolio management, bStocks are interesting because they bring the flexibility I’m already used to in crypto.”A New Generation of InvestorsFor decades, where you lived played a major role in how easily you could access global financial markets. That is beginning to change, and younger investors are helping drive that shift. For a growing number of investors, geography is no longer the gatekeeper it once was.The pattern shows up clearly in the data. Emerging-market investors account for the overwhelming majority of Direct Stocks and bStocks activity, and Gen Z remains the single largest generation trading on Binance’s equity products. It’s a trend that shows up in the smaller details too: among Gen-Z investors from emerging markets just starting out, roughly 1 in 5 chose Nvidia as their first-ever stock trade, echoing Tai_Degen’s own first purchase.Direct Stocks, bStocks, and equity-linked perpetual futures are all part of Binance’s broader vision of giving users more ways to access traditional financial markets. It’s another step toward expanding financial access, and Binance’s vision of a financial super app: one platform where crypto and traditional markets sit side by side.Further ReadingWhat Binance’s Direct Stocks Mean for Everyday InvestorsIntroducing bStocks – Trade and Hold Tokenized 1:1 U.S. Stocks on BinanceWhy Tokenized Securities? A Look at bStocks vs. Traditional StocksDisclaimer: Products mentioned above may not be available in your jurisdiction. Content may include third party comments and opinions. Please note that: (a) all content is presented 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. 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For more information, see our Terms of Use, Securities Trading Product Terms and Risk Warning.bStocks tokenized securities are classified as Certificates representing certain Financial Instruments (paragraph 92, Schedule 1 to FSMR). bStocks are not stocks or shares and bStocks do not allow holders to directly own a share or stock in the underlying listed company. bStocks do not represent any affiliation with the underlying asset's issuer. bStocks are offered through an Approved Prospectus in the ADGM and are not offered in any other jurisdiction. No public offer is made outside of the ADGM. Tokenized securities are available only to eligible users in permitted jurisdictions on a secondary market basis only. It is your sole responsibility to ensure that accessing and trading tokenized securities is lawful in your jurisdiction before proceeding. 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Main TakeawaysIndia’s Narcotics Control Bureau (NCB) announced enforcement action against “Team Kalki,” a darknet-linked narcotics distribution network that investigators said had been active since January 2025.The Data Security Council of India (DSCI) and Binance’s Investigations team supported the investigation with blockchain intelligence, including wallet-tracing support and assistance responding to law enforcement requests related to digital-asset flows.The case highlights how blockchain data, combined with public-private cooperation, can help investigators follow funds and disrupt criminal activity.India’s Narcotics Control Bureau (NCB), with critical support from the Data Security Council of India (DSCI) and Binance’s Investigations team, recently announced enforcement action on ‘Team Kalki’, a darknet drug syndicate that leveraged encrypted communication, hidden online forums and international suppliers to deliver narcotics across India. As part of the investigation, DSCI and Binance provided blockchain analytics, wallet tracking, and support related to cryptocurrency asset freezes linked to the network. The operation highlights the growing role of blockchain intelligence in investigations involving digital assets.Blockchain Transparency as a Law Enforcement AllyUnlike conventional financial systems, where illicit funds can disappear into complex, opaque networks, blockchain technology offers a public and immutable ledger that investigators can analyze to trace the flow of funds. In this operation, Binance and DSCI provided vital blockchain analytics and wallet tracking that helped authorities identify and freeze cryptocurrency assets linked to Team Kalki.This capability enables regulatory bodies and digital asset exchanges to act swiftly against scams and criminal enterprises. Blockchain records can be analyzed to support investigations.Operation Highlights: The Fall of ‘Team Kalki’Team Kalki coordinated orders through encrypted apps like Session, and hidden forums such as Dread, using covert “dead drops” to avoid detection.Blockchain transaction monitoring was instrumental in freezing the group’s assets and cutting off its financial channels.Authorities seized thousands of narcotics, from LSD blotters to MDMA pills, via domestic and international parcels connected to the network.S.B. Seker, Head of APAC, Binance, remarked, “Digital assets’ transparent blockchain infrastructure makes illicit activities more visible. This transparency is actually a significant advantage – it allows authorities to trace, investigate, and address wrongdoing more effectively.” “At Binance, security is fundamental to our mission. We prioritize safeguarding users and building trust by proactively identifying and mitigating risks. Operations against the likes of ‘Team Kalki’ demonstrate how combining blockchain transparency with enforcement efforts empowers the ecosystem to disrupt illicit activities. Binance remains dedicated to advancing best-in-class security standards to ensure a safe and resilient digital asset ecosystem where innovation can thrive.”Building a Safer, More Transparent Crypto EcosystemThe dismantling of ‘Team Kalki’ sends a clear message: no matter how sophisticated criminals’ digital methods are, the combination of investigative expertise and blockchain transparency will prevail.Operation Kalki illustrates the power of multi-stakeholder collaboration — between law enforcement, industry bodies, and exchanges like Binance — in leveraging blockchain’s transparency to fight crime. It reaffirms that emerging technologies, when used responsibly, can be powerful tools for good, enhancing security and enabling innovation.By shining a light on illicit activity, blockchain does not enable crime; it exposes and helps prevent it, supporting an ecosystem where legitimate users can thrive safely.Further ReadingBinance Helps Dismantle a Notorious Darknet Narcotics MarketplaceHow Binance Uses AI to Stay Ahead of Financial CrimeBinance Collaborates with Royal Thai Police to Dismantle Money Laundering Network

Main TakeawaysMining can generate BTC rewards on an ongoing basis, but it requires upfront hardware spend, ongoing electricity costs, and operational oversight.Buying BTC is the simplest way to get BTC exposure, but your results depend on your entry timing and ability to stick to a plan.Electricity cost is a key driver of mining outcomes. In the illustrative scenario below, mining looks more competitive below about $0.05/kWh, while buying tends to look more efficient above about $0.07/kWh (assuming other variables remain similar).Mining and buying are two common ways to accumulate BTC. They can both make sense, depending on your electricity price, time horizon, operational capacity, and risk tolerance.This article explains the practical trade-offs, then walks through a simplified case study to show how electricity costs can change the math. Numbers are illustrative and sensitive to network difficulty, uptime, fees, and BTC price.What You Get When You Mine BTCMining converts hardware and electricity into BTC rewards over time. Many miners like mining because it spreads acquisition across many days rather than a single purchase date, which can reduce the impact of buying at an unfavorable moment.Most individual miners don’t mine solo. Instead, they connect their hardware to a mining pool, such as Binance Pool, which combines hashrate from many participants to produce more consistent, predictable payouts than solo mining alone.Mining can also offer operational flexibility. If conditions change or you decide to exit, ASICs may retain some resale value, although resale prices can vary significantly. What You Get When You Buy BTCBuying BTC is operationally simple. You do not need to select machines, manage firmware, optimize cooling, monitor uptime, or coordinate pool and hosting setups. Your main decision is how much to buy, and when.A spot BTC position also avoids day-to-day operating expenses. Mining has recurring costs, primarily electricity, and those costs continue regardless of short-term BTC price moves.The Biggest Variable: Your Electricity CostIn the scenario used in this post, electricity cost is the main swing factor. Below about $0.05/kWh, mining economics can become more attractive over a multi-year horizon. Between $0.05 and $0.07/kWh, mining becomes more dependent on a longer time horizon and BTC price appreciation. Above about $0.07/kWh, buying typically looks more efficient for pure BTC accumulation in this simplified model.These ranges are not guaranteed. Actual outcomes depend on variables including network difficulty adjustments, uptime, pool fees, hosting terms, and hardware lifecycle.Case Study: $87,000 — Mine or Buy?This simplified example compares buying BTC today versus deploying the same capital into mining hardware, then paying electricity over time. Assumptions are stated explicitly, and results will change if any of them change. Setup (illustrative)Capital: $87,000 (5 * Antminer S23 Hyd at $17,400 each)Miner specs: 580 TH/s, 5,510W per unit, 9.5 J/TH efficiencyTotal hashrate: 2,900 TH/s = 0.0029 EH/sTotal power draw: 27.55 kWNetwork hashrate: ~873 EH/s (July 2026, source: mempool.space)BTC price: $62,000Pool fee: 4% FPPS (Binance Pool) — minor effect, omitted from net calculations for clarityBlock reward: 3.125 BTC (post-halving)Assumption: no difficulty adjustment (difficulty can change over time and may extend timelines)Option A — Buy BTCBTC acquired: $87,000 / $62,000 = 1.4032 BTCOngoing cost: $0 (excluding custody and storage costs)Result: 1.4032 BTC held from day one; your BTC balance does not grow unless you buy more.Option B — Mine BTC (gross output, then net after power)Daily gross BTC: 450 BTC per day * (2,900 / 873,000,000) = 0.001495 BTC per dayDaily gross USD: 0.001495 * $62,000 = $92.68 per dayDaily electricity: 27.55 kW * 24h = 661.2 kWh per dayBreak-even comparison across electricity ratesThe table below shows how long it takes, in this simplified model, for mining to accumulate the same 1.4032 BTC that the buyer holds on day one, along with cumulative electricity costs during that period. Assuming the BTC price remains unchanged, pool fees and downtime are excluded for clarity.Electricity rateDaily power cost (per day)Net BTC (per day) (after power)Days to mine 1.4032 BTCTotal electricity spent$0.05/kWh$33.06 per day0.000962 BTC per day1,459 days (4.0 years)$48,242$0.06/kWh$39.67 per day0.000855 BTC per day1,641 days (4.5 years)$65,112$0.07/kWh$46.28 per day0.000748 BTC per day1,875 days (5.1 years)$86,789$0.10/kWh$66.12 per day0.000428 BTC per day3,276 days (9.0 years)$216,579What this scenario could be suggestingAt $0.05–$0.06/kWh, mining reaches parity with buying on a BTC-denominated basis after roughly 4.0–4.5 years in this simplified model, while the buyer holds the full BTC amount from day one with no operating cost.At $0.07/kWh, the cumulative electricity spend approaches the original $87,000 hardware budget by the time mining reaches parity in BTC terms, and the timeline extends to 5.1 years in this model.At $0.10/kWh, mining looks uncompetitive in this simplified comparison, because the cumulative electricity cost grows far beyond the original hardware spend over the parity timeline.Hardware lifecycle also matters. The model does not price in depreciation, changing efficiency versus newer hardware, maintenance, or downtime. Even after “parity,” machines may be closer to end-of-life or less competitive depending on market conditions.Where Mining Has the EdgeEven in situations where a simplified snapshot appears to favor buying BTC, mining can still make sense under the right conditions, especially for operators with low electricity costs, strong uptime, and efficient infrastructure. Mining is also different from a one-time BTC purchase because it turns infrastructure and energy into ongoing BTC production over time. For some participants, that operating model is part of the appeal. It also offers flexibility: when mining economics are less favorable, an operator may choose to sell hashrate instead of mining directly, depending on market conditions and available platforms.Hardware can still pay you backResidual hardware value matters as well. A simple buy-versus-mine comparison often assumes the $87,000 hardware investment falls to zero, which may overstate the disadvantage of mining. In practice, newer-generation units and related infrastructure may retain resale or redeployment value. Even a conservative 15%–25% residual value implies roughly $13,000–$22,000 of recoverable value, which can improve the effective break-even.Tax treatment can shift the pictureTax treatment may also differ by jurisdiction. In some markets, mining equipment, electricity, and depreciation may receive business tax treatment that changes the after-tax economics versus simply buying and holding BTC. This depends on local rules and should be assessed with professional advice.In short, buying BTC may be simpler, but mining can still be a rational choice for operators with a structural cost advantage and a long-term view.Final ThoughtsMining and buying are both ways to build BTC exposure, but they behave differently. Mining outcomes depend heavily on your electricity rate, uptime, and how network difficulty and BTC price evolve over time. Buying concentrates timing risk into your purchase decisions, but avoids the operational and power-cost burden.If you are deciding between the two, it may be worth considering to start with your all-in electricity cost per kWh and your realistic ability to run hardware consistently. In the scenario above, mining may start to look more competitive below about $0.05/kWh, while buying tends to look more efficient above about $0.07/kWh, assuming other inputs remain similar. Of course, the key as always is to do your own research, and to ensure that whichever option you choose is best for your individual circumstances. Further ReadingMining Through Market Cycles: How Binance Pool Helps Miners Stay ResilientHow Retail Bitcoin Miners Can Manage Electricity CostsBeyond the Hashrate – A Binance Guide to Pool Payouts and ProfitabilityDisclaimer and Risk Warning: Digital asset prices are subject to high market risk and price volatility. 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. 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. This product may not be available in certain countries and to certain users. This content is not intended for users/countries to which prohibitions/restrictions apply. For more information, see our Terms of Use and Risk Warning.

Main TakeawaysBinance turns nine this week, and we're marking the milestone with stories from three long-standing employees and three Binance Angels who helped build it.Over the years, they’ve helped launch products, grow communities, mentor newcomers, and support millions of users around the world.As Binance evolved, so did they, with new careers, marriages, parenthood, friendships, and opportunities they never expected.Nine years is a long time in crypto. It's also a long time in a person's life.When Binance launched in 2017, nobody knew what the future would bring. Some of the people who joined in those early years are still here today. They have built products, grown communities, taught newcomers, answered countless questions, and helped shape Binance over the past nine years.As Binance evolved, so did they. They took on new roles, moved countries, got married, became parents, built lifelong friendships, and found opportunities they never expected when they first joined.That’s what this year’s anniversary theme, ‘Built by You’, is all about. We spoke with three long-standing employees and three Binance Angels about what they built, what they remember most, and how their years at Binance have shaped their lives.From One Writer to Millions of LearnersHenrique joined Binance in late 2018 as one of the earliest members of the Binance Academy team. He had been freelancing as a crypto writer and was already a Binance user when he saw the job listing and applied. At the time, he was the Academy team's only content writer.“The company was relatively new, and we had a great startup vibe,” he says. “I remember being amazed by how smart my colleagues were, and I did everything I could to learn as much as possible from them.”In those early years, the Academy team was small and focused on creating as much educational content as possible for an industry that was growing quickly. As the platform expanded, Henrique saw work he had helped create translated into more than 30 languages and made available to millions of people around the world.“I know there is still a lot to work on and improve, but having helped create and develop Binance Academy will always be something I am proud of.”Over the years, he grew from writer to senior editor, hiring and training larger teams as Binance Academy expanded. His life changed too. Joining Binance meant moving away from Brazil and adapting to life far from his family. He later got married and started a family of his own.“Looking back, I feel grateful and lucky to have had the opportunity to join Binance at such an early stage.”Carrying a Legacy ForwardSince 2018, Venky has supported communities across Southeast Asia and Africa as a Binance Angel, moderated the English Global Telegram channel, and contributed to Binance events around the world.His connection to the Binance community is also deeply personal.Venky's late twin brother shared his love for Binance, often wearing Binance swag and calling himself ‘a proud Binancian family member.’ After his brother died in a road accident, that connection took on a new meaning.“When I received his final belongings – the black hoodie he was wearing, the bracelet I once gave him from Sri Lanka – grief and pride collided into a single, unmistakable message: keep building.”Venky carried that message back into his community work. In 2025, he received the Community Builder Award at Binance Blockchain Week, which he says he accepted for both of them.“Binance was never just a platform to me,” he says. “It is where my brother’s pride lived, and where I now carry it forward, one community at a time.”Growing With the CommunitySisi joined Binance in early 2020 after interviewing to host Block 101, one of Binance's early podcasts. She later moved into community operations, with her responsibilities expanding into social media, as well as events and branding across Asia.She remembers three things most clearly about her early days: the pace, the passion, and the constant innovation.New to the industry herself, Sisi was learning crypto while keeping pace with an ecosystem that was changing at breakneck speed. She joined during the DeFi boom of 2020-2021, when new products, applications, and ways of using crypto were emerging almost daily. Keeping up with the industry quickly became part of the job.“The crypto space is inherently community-centric,” she says. “A successful project is inseparable from a cohesive community.”She has also seen her own approach to work change. Years of shifting responsibilities, international events, and changing user needs have made her more adaptable and more willing to take on new challenges. They also reinforced the importance of staying close to users.“Every time I earnestly address a client’s request – even something as small as guiding them through a product feature so they can use our service smoothly – the genuine gratitude and positive feedback reaffirm my purpose,” she says.A Volunteer Journey Full of FirstsSehrish, known in the community as Jassia, brought several years of community management experience with her when she joined as a Binance Angel in February 2021.Since then, she has supported communities across Pakistan and the wider Binance ecosystem, moderated more than 20 Telegram and Discord communities, hosted online events, mentored new Angels, and taken on the role of Feedback Buddy for the Binance Pakistan community.Her contributions have been recognized with several awards, including being named Binance Angel of the Year in 2025. But when Jassia looks back, some of her most important milestones happened far beyond the screen.During her time with Binance, she took her first flight, went on her first international trip, stayed in a hotel for the first time, and eventually travelled abroad on her own.“These weren’t just travel experiences,” she says. “They became life-changing memories that I’ll always cherish.”What started as volunteering for a community she believed in became one of the most meaningful chapters of her life.“Binance didn’t just give me opportunities,” Jassia says. “It gave me confidence, lifelong friendships, unforgettable memories, and a global family.”The Balloon King and Other Reasons to StayTram joined Binance in early 2021 without knowing much about crypto. The team saw that as an advantage: if a complete beginner could learn to navigate the industry, she could help make it easier for other newcomers too.She started in localization and content marketing before gradually moving into social media and community work as the Vietnam team grew.Her strongest first impression was the relationship users already had with Binance.“I never thought people could love a brand this much,” she recalls. At offline events, the Binance booth would draw long lines of people waiting to play games, collect swag, or simply speak with the team. “I even joked with my colleagues that I felt like an idol for a day.”Over the years, she came to understand where that enthusiasm came from. At one of Binance's annual community birthday celebrations in Vietnam, a community member known as the ‘Balloon King’ told her he'd started a small balloon business and that Binance had been part of its journey.“It was such a simple conversation, but it has stayed with me ever since,” she says. “Seeing how the Binance community has become part of someone’s personal journey and brought something positive to their life makes me proud to be part of it.”Almost six years later, Tram says she is proudest of helping build a community where many familiar faces have stayed for years. Her personal life evolved too: during her time at Binance, she got married and became a mother.“When I look back, I don’t just see the projects or campaigns,” she says. “I see how much I’ve grown as a person.”Opening the First DoorMax has been part of the Binance Angels community for almost five years. He started as a grassroots volunteer before moving into mentor and evaluator roles, supporting the Binance Argentina and Binance LATAM communities through moderation, events, and community initiatives.One of the contributions he is proudest of is a bootcamp designed to give new Angel applicants a more guided introduction to the community. The initiative was later adopted globally.For Max, the greatest reward has been watching the people who went through it grow.“Over these years, what motivates me most is seeing how people who arrived knowing nothing about the crypto world end up learning how to navigate the ecosystem,” he says. “Helping to open that first door – for colleagues, for the community, for those just starting out – is what gives everything meaning.”In 2025, Max was recognized as a Local Community Dynamo (Americas & LATAM) at the Binance Angels Awards, an achievement he says reflects the wider community that has supported him throughout his journey.Built by YouAcross these six stories, there's no single definition of what it means to build Binance: some built products, others built communities, mentored newcomers, shared knowledge, or simply showed up, year after year, for someone else.Their stories are different, but they all reflect the same idea behind Binance's ninth anniversary. The company has always been shaped by the people who contribute to it.To every employee, Angel, user, and community member who has been part of that journey, thank you.Binance was built by you.Further ReadingCelebrate Binance’s Ninth Anniversary With Over $4.5M Worth of RewardsBinance’s 9YA: Nine Years of Scaling Access And Utility For Our CommunityBuilt by You: How User Feedback Shaped Binance in 2026 so FarDisclaimer: The stories narrated are not intended to be and shall not be construed as an endorsement by Binance of such views or a guarantee of the reliability or accuracy of such content.Digital asset prices are subject to high market risk and price volatility. 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. 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 has steadily built crypto’s yield infrastructure, offering structured, regulated ways to earn on digital assets, from lower-risk products to more advanced strategies.Since 2019, Binance has distributed more than $10 billion in rewards across products including Binance Earn, Launchpool, HODLer Airdrops, and Binance Alpha AirdropsWithin Binance Earn, around $1.2 billion yield has been distributed to millions of stablecoin holders since 2022.Long-term Bitcoin holders now have another way to earn on idle BTC via BTC Yield (BTCY), a covered-call strategy for users seeking potentially higher APR than our standard flexible earning products.HODL. Hold on for dear life. One of crypto’s most defining mantras, and the strategy for many of its earliest investors. People would buy Bitcoin, hold, and wait patiently for the price to go up. Then during the 2020–21 boom, a string of products arrived with eye-watering yield returns on digital assets. Much of that first wave was the Wild West: unsustainable and loosely governed. Over the past several years, crypto has matured from a market defined by price appreciation into one where digital assets can generate yield through structured, regulated products, backed by real strategies rather than unsustainable rates. The Demand for Stablecoin YieldFor a crypto trader, stablecoins are a place to wait, somewhere to hold value between positions without cashing out to fiat and back. In hyperinflated economies, they can allow people to protect their savings against a depreciating local currency. Why should those stablecoins sit idle? They represent a massive pool of value, and over recent years, holders have been able to put them to work on Binance.Since 2022, Binance Earn has paid roughly $1.2 billion in yield to millions of stablecoin holders. On an annualized basis, RWUSD returned 3.36% and the delta-hedged BFUSD 2.09%, against a US national savings deposit rate of 0.38% — up to roughly 8.8 times higher over the same period. The stablecoin numbers are just one part of the crypto yield infrastructure Binance is building. An Entire Ecosystem of ProductsBetween 2019 and 2026, Binance distributed approximately $10 billion in total yield to users, across a full range of products, including Flexible and Locked Products, Binance Alpha, Launchpool, Megadrop, HODLer airdrops, and more. Our products suit a range of risk appetites, including more cautious first-time savers, as well as active traders deploying advanced strategies. Instead of a one-off program launched to chase a hot market, we’ve built an entire ecosystem that has generated $10 billion in yield through the market’s worst stretches and its best.Bitcoin, the Hardest Asset to CrackWhich leaves Bitcoin, the one asset whose identity has historically revolved around holding and waiting, with only a very limited selection of regulated, yield-bearing products.Part of why it’s so hard is technical. Networks like Ethereum and Solana pay holders to help secure the network through staking, so yield is built into the protocol itself. Bitcoin has no such mechanism and is secured by miners instead of holders. To generate a return, holders have historically had to move their coins somewhere riskier, wrapping them into other tokens, lending them to institutions, or handing them to sketchy third-party platforms.On July 7, 2026, Binance introduced BTC Yield (or BTCY), a way for long-term holders to earn income on Bitcoin that would otherwise sit idle. How does BTC Yield work?You subscribe with Bitcoin and receive BTCY. BTCY is not a token and is not BTC itself; it exists only within the BTC Yield product.Binance holds the Bitcoin and runs a covered-call strategy. It sells other traders the right to buy that Bitcoin at a set price (also known as the strike price) for a premium. When the price stays at or below that set price, the option expires. The strategy keeps the premium and distributes a portion to you as your yield.When the price rises above that set price, your upside is capped. You may still benefit from premium income and BTC value accumulation up to the strike price, but not from gains beyond it.This approach is common in traditional finance, but typically requires advanced expertise in options. With BTC Yield, Binance handles the behind-the-scenes work.Explore BTC YieldHow are returns distributed?Some of the collected premium is converted to Bitcoin and paid into your spot account every Friday, as a potential weekly distribution. Some is retained in the strategy, so that each BTCY unit gradually comes to represent slightly more Bitcoin. That value is realized when you redeem back into BTC.It’s important to note that BTC Yield isn’t free or risk-free. Binance takes 15% of gross option premiums before yield is calculated, and redemption fees apply. Your principal (BTC) is not protected, and you may lose some or all of your investment. Weekly distributions are never guaranteed and can be zero. The covered-call approach caps upside during sharp rallies, because the calls can be exercised. BTCY is built for holders who want potential income on idle Bitcoin and accept those trade-offs, not for users chasing the next vertical move. It’s part of a larger lineup of products spanning a range of risk appetites. Simple Earn offers baseline yield on BTC with flexible terms. Advanced Earn goes further, with structured products like Dual Investment, which can pay out whichever way the market moves, and on-chain restaking through partners like Babylon and Solv. Final ThoughtsAn asset you can only evaluate on whether the price rises stays as speculation by definition. An asset that also generates income invites different questions: return over time, risk, the range of yield available on it. These are the same questions investors and institutions bring to every mature market. Binance has been helping crypto cross that line for years, one product at a time. Bitcoin sitting idly can now earn yield across a range of regulated products on Binance. HODLing is no longer the only option. Further ReadingSimple Strategies to Earn Income with Stablecoins on Binance EarnOn-Chain Yields Made Simple with BinanceHow to Make Your Crypto Work for You With Binance EarnDisclaimer: Digital asset prices can be highly 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. Simple Earn Locked Products will return the digital assets to users’ spot accounts after the agreed period ends or upon early redemption. Binance does not guarantee that you will receive any specific reward over time. APR is an estimate of rewards you will earn in cryptocurrency over the selected timeframe. It does not display the actual or predicted returns/yield in any fiat currency. APR is adjusted daily and the estimated rewards may differ from the actual rewards generated. For Dual Investment, you may be better off holding your cryptocurrency, and may be required to trade at a rate less favorable than the market rate on the Settlement Date. The value attributable to your BTCY strategy position may go down or up, and you may not receive back the amount of BTC you allocated. By participating in BTC Yield, you are converting your subscribed BTC to BTCY. BTC Yield is not capital protected, and you may lose some or all of your BTC. Any BTC Credits, APY, realised APY, illustrative yield, or similar figures shown in connection with BTCY are for information purposes only, are not guaranteed, may be zero, and refer to BTC-denominated amounts only rather than actual or predicted returns in fiat or any other digital asset such as BTC. BTC Yield uses a strategy that may underperform holding BTC directly, including in periods of strong BTC price appreciation. When you exit BTC Yield, the amount of BTC returned to you will depend on the applicable valuation at the relevant processing time, and this may be higher or lower than the valuation shown when you submitted your request. Fast Exit may be unavailable, and Standard Exit may be subject to processing windows, capacity limits, delays and fees. Binance does not provide financial, legal, tax or investment advice, and you are solely responsible for your investment decisions. For more information, please see the BTCY Terms, Terms of Use and Risk Warning.

Main TakeawaysBinance offers multiple ways to access equity-linked markets – including pre-IPO and listed price exposure via perpetual futures, U.S.-listed direct stocks, and bStocks, tokenized on-chain securities.Early data suggests these products are heavily used together. 58.5% of bStocks users also traded perpetual futures or direct stocks in the same period.Outside regular U.S. market hours, bStocks become the majority of equity-linked volume (bStocks and direct stocks) on Binance, rising to 58% after the closing bell from 48% during the regular session.In recent months, Binance has expanded its core offerings to include an entire ecosystem of TradFi-linked products, such as TradFi perpetual futures contracts, including Pre-IPO exposure, access to U.S. listed stocks, and bStocks, on-chain tokenized securities.But how are these products being used in practice? Two things stand out. Users are moving freely between all three formats, and the on-chain layer is scaling faster than many observers would expect. Not only is there growing demand, but for 4 in 10 bStock users, the token was their first entry point into Binance's TradFi products. In other words, on-chain is becoming the way in.bStocks are Becoming the Front DoorRoughly 41.5% of bStocks users started their TradFi journey on Binance with our tokenized security offering. Instead of acting as just an add-on for existing stock traders, we’re seeing bStocks potentially become a gateway into equities for an entirely new generation that began its financial journey in crypto. Figure 1: 41.5% of bStocks users came in through bStocks alone, having previously never used perps or direct stocks on Binance. Source: Binance Research, as of July 8, 2026The market these users are entering young and growing fast. In under a month, we’ve increased bStock listings from 5 to 36, while the product’s market cap crossed roughly $300M over the same period. Users want access to tokenized securities, and at Binance, we’ve been steadily meeting the demand by expanding the list of available assets.When Wall Street Sleeps, Binance Takes the Night ShiftPart of the reason for bStocks’ rapid growth is its 24/7 trading. Traditional U.S. equity markets operate on a 24/5 schedule, Monday through Friday. Outside those hours, any reaction from news, earnings, and macro events stays frozen until markets reopen.Figure 2: bStocks trading volume during trading hours and off-hours. Source: Binance Research, as of July 8, 2026Binance stock trading also offers extended weekday hours, and users are leaning towards bStocks trading during these extended hours. During the regular session, bStocks and direct stocks run close to even, with bStocks at 48% of equity-linked volume. After the closing bell, bStocks becomes the majority at 58%. A market that stays awake, along with the flexibility of digital assets, is a strong proposition for both crypto-native and TradFi traders. bStocks Utility Runs Deeper Than 24/7 TradingRound-the-clock access is just one advantage. What keeps users is what the bStock market can accomplish compared to traditional assets. Each bStock is backed 1:1 by a share held in a regulated custodian account, which is publicly verifiable through Binance's Proof of Collateral page. Dividends are reinvested automatically via a token rebasing mechanism called the Multiplier.Beyond trading and holding, bStocks can be used across various on-chain applications. For example, users can supply their bStocks to liquidity pools, use it as collateral, or deploy across DeFi strategies to generate extra yield, with PancakeSwap LPs showing APYs from roughly 32% to 228% and native credit pools in the 5% to 10% range.Figure 3: bStocks DeFi yield opportunities. Source: Binance Research, as of July 8, 2026Another important piece of utility is that, unlike most platforms with tokenized securities offerings, Binance users can freely move between a bStock and its underlying stock 1:1 instantly, with zero conversion fees. This frictionless loop helps keep the price tightly pegged. And, because TradFi markets don’t operate 24/7 and aren’t on-chain, temporary price differences can emerge between a bStock and its underlying stock, opening primary-market arbitrage opportunities to all users.Between June 11 and July 8, 2026, a sample of users generated $216M in rapid back-to-back trades across bStocks and the matching equities. A small group of systematic traders accounted for most of the volume, but the overwhelming majority were retail participants, many showing up just once to catch a fleeting price gap before moving on. Binance Users are Moving Across ProductsbStocks, however, doesn’t sit in its own silo, and neither does any product on Binance. Putting perps, stocks, and tokenized securities under one roof allows our users to diversify and build integrated portfolios instead of managing scattered positions across separate apps. The data so far shows that’s already happening: 58.5% of bStock users also traded perps or equities: 25% across perps and bStocks, 20.7% across all three, 12.7% across equities and bStocks. Let’s look at SPCX’s recent listing as an example. 8.6% of users who traded its pre-IPO perps went on to trade the bStock, against just 0.6% who moved into the direct stock, nearly a 14x edge for the tokenized format as an on-ramp. A likely explanation for the dramatic difference is familiarity. A token that trades on-chain and sits in the same wallet feels natural to a user who already trades pre-IPO perps. The direct stock, with its separate infrastructure and market hours, is the unfamiliar option. Final ThoughtsBinance has built an ecosystem of TradFi-linked products that is growing rapidly. bStocks listings and on-chain market cap have grown dramatically since launch, while trading is increasingly moving from the exchange floor to bStocks outside U.S. market hours. Even more telling is how connected the pieces are. Binance users are moving from perpetual futures to direct stocks to bStocks – a full loop that works both ways just as seamlessly. It's early, but the signals point to a real shift in how users trade traditional markets, with Binance at the forefront of this movement.Further ReadingHow Binance Serves Your Full Financial Journey: One Super App Instead of a DozenWhy Traditional Markets Are Starting to Trade Like Crypto, According to ThreadGuyAccessing Stocks With Crypto: Three bStocks User StoriesDisclaimer: Nest Trading Limited acts as your introducing broker and routes your orders for Securities to its clearing broker partner, Alpaca Securities LLC, for execution, clearing, settlement and custody. Binance does not handle or custody your Securities. Securities are subject to high market and liquidity risk and price volatility (particularly outside traditional market hours). 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. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. Binance may receive payment for order flow remuneration for directing your orders. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Securities Trading Product Terms and Risk Warning.Disclaimer: bStocks Tokenized Securities are classified as Certificates representing certain Financial Instruments (paragraph 92, Schedule 1 to FSMR). bStocks are not stocks or shares and bStocks do not allow holders to directly own a share or stock in the underlying listed company. bStocks do not represent any affiliation with the underlying asset's issuer. bStocks are offered through an Approved Prospectus in the ADGM and are not offered in any other jurisdiction. No public offer is made outside of the ADGM. Tokenized securities are available only to eligible users in permitted jurisdictions on a secondary market basis only. It is your sole responsibility to ensure that accessing and trading tokenized securities is lawful in your jurisdiction before proceeding. Accessing this product from a jurisdiction in which it is prohibited or restricted does not create any liability or obligation on the part of Binance. We may restrict, suspend, reject, cancel, or unwind access or transactions if we determine, in our sole discretion, that your access or transaction may breach applicable law, product restrictions, eligibility criteria, sanctions requirements, or the relevant offering documents. Tokenized securities may be held and transferred on-chain outside the CSD environment. The transfer of tokenized securities back into the CSD environment is subject to conditions and you may be unable to trade, redeem or otherwise deal with the tokenized securities within the CSD environment if such conditions are not fulfilled. No information displayed in connection with tokenized securities is intended as an offer, solicitation, promotion, recommendation, or invitation to buy or sell securities in any jurisdiction. Tokenized securities are not offered, sold, distributed, made available, or accessible in the United States or to, or for the account or benefit of, U.S. persons. The tokenized securities have not been and will not be registered under the U.S. Securities Act of 1933 or any U.S. state securities laws and a public offering of bStocks will not be conducted in the United States or any other jurisdiction (other than the ADGM). By accessing this product, you represent and warrant that you are not a U.S. person, are not located in the United States, are not acting for the account or benefit of any U.S. person, and will not access, purchase, sell, transfer, redeem, or otherwise transact in tokenized securities from within the United States. For more information, see the Terms of Use, Exchange Rules, Exchange Procedures, relevant Prospectus (if applicable to you and understanding that the offer is only made in ADGM, no public offer is being made elsewhere and viewing the prospectus does not constitute an invitation or solicitation outside ADGM), bStocks Minting and Redemption Product Terms, Admission to Trading Notice and Risk 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. TradFi Perps are subject to high market risk and price volatility (particularly outside traditional market hours). You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. TradFi Perps do not represent ownership of the relevant underlying asset. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. 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.

Main TakeawaysIn H1 2026, Binance collected 2,354 pieces of user feedback across product areas, with 198 improvements shipped across 47 sub-categories.User feedback directly informed improvements across Futures and Copy Trading, P2P, Binance Chat, Binance Wallet, account experience, navigation, and more.As Binance celebrates nine years, these updates embody our core principle: the best platform is built for and with the people who use it every day.For nine years, Binance has grown alongside its users. From our earliest days to today’s global financial ecosystem, your feedback has played a central role in shaping what we build, improve, and prioritize. Every suggestion, complaint, support ticket, product request, and community comment helps us understand where the experience can be better and more useful for you.As we celebrate our ninth anniversary, the theme Built by You captures one of the most important truths about the platform: our users help shape what and how Binance is.In the first half of 2026, Binance collected 2,354 pieces of user feedback across product areas. Based on these, we shipped 198 improvements between January 1 and June 30, spanning 47 product sub-categories.Some were small fixes that removed everyday friction; others improved safety, reliability, trading workflows, or how you interact with new products. Together, they illustrate how user feedback becomes product progress, leading to better experience and better outcomes for the entire Binance community.Turning User Feedback Into Product ImprovementsIn H1 2026, some of the highest-volume shipped improvements came from Futures and Copy Trading, where 78 feedback-driven items were released. You asked for things like clearer position information and more flexible order settings, as well as the overall smoother trading experience. In response, we shipped updates such as leverage visibility in copy trading position history and advanced TP/SL settings for lead trading conditional orders, among many others.We saw that traders needed better visibility into how positions were opened and more flexible tools for managing risk. Another common theme in user comments was the desire for clarity. You wanted to see the leverage ratio used when trades were originally opened and have the platform remember previously entered futures order quantities instead of forcing you to start from scratch every time.These are the kinds of details that become important in active trading. When markets move quickly, better information and fewer manual steps can make the experience more efficient and more intuitive – and with your help, these and many other improvements are now live on Binance.Making P2P Safer and FairerP2P remains one of the most important ways users access crypto in many markets. It is also an area where trust and efficient dispute handling are especially important.In H1 2026, your feedback helped us drive several P2P improvements, including changes related to payment security and merchant review fairness.Some users raised concerns about collaborative payment experiences and asked for more control and additional safeguards, which we delivered. Others, including P2P merchants, highlighted how unfair or malicious negative reviews could affect their reputation without a clear appeal route. In response, we shipped a P2P negative feedback appeal feature, giving merchants a way to request review or removal of unfair ratings.Overall, you made it clear that you wanted P2P to remain flexible, but also to have stronger protections and fairer processes. The feedback helped us improve both.Making Chat and Support More ReliableIn H1 2026, chat and messaging – our brand-new functionalities – generated one of the largest feedback volumes, with users flagging desired improvements across support, P2P communication, and specific aspects of reliability. We responded by shipping nine feedback-driven improvements in these areas.Early on, you reported cases where chat messages failed to send reliably on weak or intermittent networks, while some saw unread message counts showing 99+ even after all messages had been read. Others pointed out that notification volume, message layout, and input box behavior made the chat experience harder to use.We shipped fixes and improvements across these areas, including message reliability updates, an unread count bug fix, support for sending images in CS Chat, notification volume optimization, and a fix for the input box overlapping recent messages.Individually, these may look like small changes – yet in practice, they improve moments when users need the platform to work clearly and reliably.More Secure and Intuitive User InterfacesYour feedback also shaped improvements across Binance Wallet, account flows, and app navigation.For Binance Wallet, you asked for clearer and more transparent experiences in Web3-related flows. One example involved RWUSD redemption, where users wanted the interface to clearly show whether fast or standard redemption was being used. We improved the UI so you could better understand the active redemption mode.In account and KYC flows, you reported loading and freeze issues that affected the experience. We shipped fixes aimed at improving stability and reducing friction in those moments.For the app homepage and navigation, you flagged accidental triggers in the bottom navigation experience, especially when light touches or long presses activated unintended behavior. We optimized bottom navigation sensitivity to reduce accidental triggers and improve day-to-day usability. Users also reported page loading issues after app updates, which were fixed in June.Final Thoughts: Built by You, Improved With YouThe strongest products improve through constant contact with real users and their actions.In H1 2026, you helped us identify issues, suggest product enhancements, and highlight opportunities across trading, P2P, chat, wallet, account, and app experiences. Binance teams turned many of those signals into shipped improvements, with more feedback continuing to inform future product work.As we celebrate nine years of Binance, Built by You is a reminder of how far the platform has come because users kept pushing us to make it better. Every comment helps, and every suggestion gives us another chance to improve. You can always share your product feedback here.Thank you for building with us.Celebrate with usFurther ReadingCelebrate Binance’s Ninth Anniversary With Over $4.5M Worth of RewardsBinance’s 9YA: Nine Years of Scaling Access And Utility For Our CommunityHow Binance Serves Your Full Financial Journey: One Super App Instead of a DozenDisclaimer: Digital asset prices are subject to high market risk and price volatility. 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. 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 TakeawaysThis blog summarizes the findings of the recent Binance Research report discussing key developments of crypto markets in June 2026.In June, total crypto market capitalization declined 16.9% to $2.13T, with altcoin spot selling at a 5-year high coupled with 20.5% BTC’s decline.Looking ahead, Iran ceasefire and spot ETF flows remain key watchpoints with consolidation likely until institutions return to spot.This blog summarizes key Web3 developments in June 2026 from Binance Research’s monthly report to provide an overview of the ecosystem’s state. We analyze the performance of crypto and DeFi markets before previewing major events to look out for in July 2026.Crypto Market Performance in June 2026In June, total crypto market capitalization declined 16.9% to $2.13T, with altcoin spot selling at a 5-year high, having persisted for 15 months.May inflation came in as expected at 4.2% overall, but the Fed turned hawkish on June 17, lifting its 2026 median to 3.8% and December hike odds to 77%.BTC’s decline from $83,000 unfolded in three stages: stronger-than-expected May payrolls weakened hopes for rate cuts, MicroStrategy selling 32 Bitcoin, and failed Iran ceasefire talks – which confirmed the earlier bounce was a temporary relief rally.Fed signals will keep driving market liquidity, while the Iran ceasefire and spot ETF flows remain key watchpoints with consolidation likely until institutions return to spot. The July 17 CLARITY Act hearing is also key, with passage odds slipping from around 75% to 38%.Monthly crypto market capitalization declined 16.9% in June. Source: CoinGecko, Binance Researchas of June 30, 2026Performance across majors was broadly negative in May, though losses varied widely based on ETF flows, treasury activity, and network-specific catalysts.HYPE held up best, down 10.1% after last month's surge, followed by TRX with 10.7%, cushioned by Tron Inc.'s treasury accumulation and record network activity of 3.3 million active addresses. SOL fell 10.8% despite capturing 95% of tokenized equity trading volume via SPCX on Jupiter.With Strategy's STRC falling below $83, BTC dropped 20.5%, pressured by lower bitcoin prices and a reserve-draining bond buyback. ETH fell 21.5% on Foundation departures, partly offset by the Ethlabs launch. XRP declined 22.0% despite a landmark JPMorgan-Ripple-Mastercard settlement pilot.BNB fell 23.2%, cushioned by the bStocks launch, which enables 24/7 trading of Nvidia, Tesla, Circle, Micron and SanDisk on BNB Chain at 1:1 conversion with zero fees. XLM dropped 27.8% even as its developer base grew 50% year-over-year. DOGE was the weakest, down 28.8% amid the broader correction.Monthly price performance of the top 10 coins by market capitalization. Source: TradingView, Binance Research as of June 30, 2026Decentralized Finance (DeFi)TVL share of top blockchains. Source: DeFiLlama, Binance Research as of June 30, 2026 Two months after the April exploit, DeFi Total Value Locked (TVL) declined 13.2% MoM to $69.32B, primarily driven by token price decline. Base and Tron led with strong MoM gains, expanding their combined share to 12.19%. DeFi hacks fell 89% from April's $644M peak to $71M in June, returning to normal levels, signaling genuine market stabilization.Tokenized Real-World Assets (RWAs)RWA net monthly growth by category. Source: RWA.xyz, Binance Research as of June 30, 2026 Total RWA asset value reached approximately $31.7B in June 2026, with the private credit sector posting the strongest MoM growth, adding approximately $883M. This drove Centrifuge to reinvigorate private credit tokenization, with its $200M JAAA issuance on Solana demonstrating institutional-grade asset viability on-chain.Binance launched bStocks, converting live US stock holdings into BNB Chain tokens for 24/7 on-chain trading. Per our latest report, 80% of tokenized stock trading originates from emerging markets, while 93% of trades are fractional with a median size of $18.81, enabling sub-$20 exposure to high-value equities.Binance Research conservatively projects the tokenized RWA market could expand to $661B at 0.4% penetration, a 62x upside from current levels due to broader platform participation and maturing infrastructure.July Events and Token UnlocksTo help users stay updated on the latest Web3 news, the Binance Research team 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 July 2026. Source: Cryptoevents, Binance ResearchLargest token unlocks in USD terms. Source: CryptoRank, Binance ResearchFinal ThoughtsThis article is only a snapshot of the full report, which contains further analyses of the most important charts from the past month. The full report explores several themes shaping the market, including how SpaceX validates the liquidity transition, how record World Cup volume points to a US$739B prediction markets by 2030, and how bStocks delivering 0.12% average price parity during the 65.5-hour Juneteenth weekend closure builds more confidence in 24/7 markets.Read the full version of this Binance Research report here.Further ReadingBinance Research: What Crypto’s 2025 Taught Us – and What to Watch in 2026Binance Research on Key Trends in Crypto – June 2026Binance Research on Key Trends in Crypto – May 2026Disclaimer: 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 turns nine as a global digital finance ecosystem serving over 300 million retail users, with continued growth across both retail and institutional adoption in H1 2026.Across all products, Binance has processed $156.4T in all-time trading volume, while continuing to expand access across crypto, stablecoins, traditional and tokenized securities, TradFi perpetuals, payments, cards, fiat rails, and rewards.Our ninth year is all about building what users need next: more access and utility, stronger trust, and a more continuous experience as the boundaries between crypto and traditional finance continue to blur.Binance began with the mission to make crypto more accessible to more people. Nine years later, what started as a crypto exchange has become a much broader digital finance ecosystem serving people across markets, languages, use cases, and levels of experience.That growth belongs to the Binance community. Every product we have built and every new layer of utility we have added has been shaped by users who wanted better access to financial opportunities. Some came to Binance to trade their first digital asset; others, to manage stablecoins, explore Web3, earn rewards, access global markets, use crypto payments, or build businesses and communities of their own.As Binance turns nine, we find ourselves at the cutting edge of the convergence of digital assets, traditional markets, stablecoin rails, tokenization, payments, savings, and on-chain utility into one user experience. The old line between TradFi and crypto is becoming less important than the real question: what do users need, and how can we help them access it securely and efficiently?Growth Through Every MarketBinance continued to grow in H1 2026, adding roughly 7% registered retail users, while institutional users grew 9%. This continued growth reflects demand from both everyday users and professional market participants who increasingly see digital assets as part of a broader financial toolkit.Scale and access come hand in hand. Across all products, Binance has now processed $156.4T in all-time trading volume, up from $145T at the end of 2025. That means users added roughly $11.4T in trading volume through Binance in the first part of 2026 alone, representing 7.8% growth from the previous year-end total.At the same time, we continued to broaden the range of digital assets available to users. Binance added 11% more coins and 3% more trading pairs, helping users discover and access more opportunities across the crypto market.From Crypto Exchange To Digital Finance Super AppIn 2026, a major vector of Binance’s evolution was the expansion of access beyond crypto-native markets. Users increasingly want one platform that can help them move across digital assets, stablecoins, public-market exposure, payments, and on-chain utility, and our product strategy is evolving around that reality.This year, Binance expanded access to traditional market exposure through products such as TradFi perpetuals, Direct Stocks, and bStocks. Since March 2026, Binance has processed more than $80B in monthly TradFi trading volume, showing how quickly demand can form when users are given simpler access to assets that were historically harder to reach.In June 2026, we opened access to more than 7,000 U.S. stocks and ETFs. Direct stocks on Binance reached $1B in assets within roughly 30 days of launch, alongside close to $3B in cumulative trading volume. More than 73% of first-month direct stock trading volume came from emerging-market users, illustrating that when access becomes easier, global demand follows.bStocks added another layer: within 15 days of launch, bStocks crossed $100M in assets, with 47% of volume taking place outside U.S. market hours. A stock-linked asset can move closer to the speed, availability, and flexibility that crypto users already expect.Binance Research projects that crypto exchanges could bring nearly 300M new users and around $2T in incremental capital into global equity markets by 2031. We see this as part of a broader transformation as digital finance is becoming more open and user-driven.Built by YouServing hundreds of millions of people means listening carefully to what users need in different markets and at different moments in their financial journey. In the first half of 2026, Binance collected 2,354 pieces of user feedback, with 198 improvements shipped across 47 sub-categories.One example is Binance Junior: families told us they wanted the product to go beyond saving and become a safer, more practical way to teach children about digital money. In response, we added Merchant Pay for Junior users, with parental controls and restrictions on not-junior-friendly categories, so families could introduce real-world spending in a more protected environment. We also brought the ABC’s of Crypto eBook directly into the Binance Junior app as a mobile-friendly educational resource, giving parents and children a simpler way to learn about crypto, saving, and responsible money habits together.On the VIP side, our team heard users suggest that recognition should better reflect the different ways they engage with Binance instead of just one narrow measure of activity. In March 2026, we updated VIP eligibility thresholds to make progression more accessible for VIP 1-3 users, including lower BNB holding and Futures trading volume requirements, while maintaining a balanced fee structure.We also introduced a new Holder framework that allows users to qualify through broader asset holdings across Binance products, expanded holder-based eligibility up to VIP 9, and launched VIP Rising Star to support users who are building toward VIP status. Together, these changes made the program more flexible, more inclusive of long-term holders, and better aligned with how users actually participate across the Binance ecosystem.Trust At Global ScaleAccess only matters if users can trust the platform behind it. As Binance has grown, we have continued to invest in compliance, security, and cooperation with law enforcement agencies around the world.All-time, Binance has responded to 313,653 law enforcement requests. From January to June 2026 alone, we processed 36,235 requests. These figures reflect the scale of our cooperation with authorities and the importance of responsible growth as digital assets become more widely used.In 2026, funds recovered or frozen by law enforcement partners with Binance’s support exceeded $40M. All-time recovered or frozen funds with Binance’s support reached $1.02B, crossing the $1B milestone for the first time.Expanding access to digital finance requires strong safeguards, serious compliance infrastructure, and a long-term commitment to protecting users and the ecosystem.More Utility For Everyday Financial LifeThe next era of digital finance will be defined by utility. Users think in needs: how to trade, invest, pay, save, earn, move money, and access financial opportunities more easily.Binance Pay has integrated QR-code national payment systems in six countries, with the number of integrations on track to reach 10 countries in Q3 2026. Binance Card is now available in 36 countries. These products help bring digital assets closer to everyday spending and real-world financial activity.Fiat access also continued to expand. In H1 2026, Binance fiat rails processed $83.3B in transactions, up 29% from the same period in 2025. Better fiat rails mean a smoother bridge between traditional money and digital assets for users.Binance Earn and rewards products have also continued to deliver value. Between 2019 and 2026, Binance Earn distributed $4.1B worth of user savings and earnings. Binance Alpha, our Web3 discovery surface, has distributed almost $0.8B in rewards all-time. Launchpool, Megadrop, and HODLer Airdrops have distributed $5.1B in total rewards all-time. Across these three pillars, the aggregate value returned to our community exceeded $10 billion.A Community That Keeps GrowingBinance’s ninth anniversary is ultimately a celebration of the people who made this journey possible. Our community has grown across countries, channels, languages, events, and digital spaces. In 2026, that growth has increasingly shifted toward higher-scale digital engagement.By June 15, virtual attendees had already reached 2.2M, nearly 69% of the full-year 2025 total. Total community attendance had reached 2.29M, already more than 60% of the 2025 full-year figure.Binance Square also continued to grow as a space for creators, discussion, education, and market conversation. By mid-June 2026, Binance Square had reached 4.74M creators, surpassing its 2025 creator base of more than 3M and adding more than 58% more creators.This is what the global Binance community in action looks like: users learning together, creators building audiences, users discussing markets, and each and every one of you helping shape the next phase of digital finance.Final Thoughts: Built Around What Users Need NextNine years in, Binance is still guided by the same core mission to expand access to financial opportunity through digital assets. What has changed is the scale and the needs of the users we serve.Today, that mission extends across crypto trading, stablecoins, institutional access, direct stocks, bStocks, TradFi perpetuals, payments, cards, fiat rails, Earn, rewards, community, education, and on-chain utility. This is the foundation of our super app approach: a growing ecosystem built around how users actually manage their financial lives.The next era of digital finance will be defined by better access, more user control, stronger utility, and a regulated way to participate in global markets. That is the future Binance is building toward – with and for our users. When all is said and done, this future will be built by you.Celebrate with usFurther ReadingCelebrate Binance’s Ninth Anniversary With Over $4.5M Worth of RewardsHow Binance Serves Your Full Financial Journey: One Super App Instead of a DozenThe Full-Market Loop on Binance: From Pre-IPO to Stocks to On-Chain and BeyondDisclaimer: Digital asset prices are subject to high market risk and price volatility. 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. 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.This material 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, 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.Nest Trading Limited acts as your introducing broker and routes your orders for Securities to its clearing broker partner, Alpaca Securities LLC, for execution, clearing, settlement and custody. Binance does not handle or custody your Securities. Securities are subject to high market and liquidity risk and price volatility (particularly outside traditional market hours). 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. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. Binance may receive payment for order flow remuneration for directing your orders. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Securities Trading Product Terms and Risk Warning.bStocks tokenized securities are classified as Certificates representing certain Financial Instruments (paragraph 92, Schedule 1 to FSMR). bStocks are not stocks or shares and bStocks do not allow holders to directly own a share or stock in the underlying listed company. bStocks do not represent any affiliation with the underlying asset's issuer. bStocks are offered through an Approved Prospectus in the ADGM and are not offered in any other jurisdiction. No public offer is made outside of the ADGM. Tokenized securities are available only to eligible users in permitted jurisdictions on a secondary market basis only. It is your sole responsibility to ensure that accessing and trading tokenized securities is lawful in your jurisdiction before proceeding. Accessing this product from a jurisdiction in which it is prohibited or restricted does not create any liability or obligation on the part of Binance. We may restrict, suspend, reject, cancel, or unwind access or transactions if we determine, in our sole discretion, that your access or transaction may breach applicable law, product restrictions, eligibility criteria, sanctions requirements, or the relevant offering documents. Tokenized securities may be held and transferred on-chain outside the CSD environment. The transfer of tokenized securities back into the CSD environment is subject to conditions and you may be unable to trade, redeem or otherwise deal with the tokenized securities within the CSD environment if such conditions are not fulfilled.No information displayed in connection with tokenized securities is intended as an offer, solicitation, promotion, recommendation, or invitation to buy or sell securities in any jurisdiction. tokenized securities are not offered, sold, distributed, made available, or accessible in the United States or to, or for the account or benefit of, U.S. persons. The tokenized securities have not been and will not be registered under the U.S. Securities Act of 1933 or any U.S. state securities laws and a public offering of bStocks will not be conducted in the United States or any other jurisdiction (other than the ADGM). By accessing this product, you represent and warrant that you are not a U.S. person, are not located in the United States, are not acting for the account or benefit of any U.S. person, and will not access, purchase, sell, transfer, redeem, or otherwise transact in tokenized securities from within the United States. For more information, see the Terms of Use, Exchange Rules, Exchange Procedures, relevant Prospectus (if applicable to you and understanding that the offer is only made in ADGM, no public offer is being made elsewhere and viewing the prospectus does not constitute an invitation or solicitation outside ADGM), bStocks Minting and Redemption Product Terms, Admission to Trading Notice and Risk Warning.

Main TakeawaysAI agents can navigate, trade, and automate on-chain, but until now they couldn't pay for services without surrendering custody or pausing for manual approval.Binance Agentic Wallet closes that gap with support for the x402 protocol, giving agents a standards-based, non-custodial way to pay for on-chain services, from data feeds to premium compute.Now live in Phase 1 across BNB Chain, Base, and Solana, the x402 payment skill lets your agent pay on your behalf while your keys stay yours.AI agents can do almost anything on-chain, except pay for it themselves. Today, custody either gets handed to a third party, or the agent waits for the user to approve every transaction – neither of which works at scale, especially for users who expect their keys to stay theirs. Binance Agentic Wallet now closes that gap: supporting the x402 payment protocol, agents get a standards-based way to pay for on-chain services, from data feeds to premium compute, without prepaid subscriptions, manual key management, or handing over custody.What Is x402 and How Does x402 Work?x402 is an HTTP-native, on-chain payment protocol. Unlike traditional payments, it enables wallet-based, pay-per-use transactions with no account registration, card checkout, or pre-funded balances.The x402 flow goes like this:The AI Agent (buyer) requests a paid resource, and the seller responds with an HTTP 402 status and its payment requirements.The Agent signs an off-chain authorization, then retries the request with proof of payment.The facilitator verifies that the payment meets the seller's requirements, submits it to the blockchain, monitors for confirmation, and returns the settlement result to the seller. Critically, it never holds funds or acts as a custodian.This means funds flow directly from buyer to seller – no intermediary custody, no pre-funding, and no friction.What Binance Agentic Wallet Integration with x402 UnlocksStart Building With x402 Payment SkillThe x402 payment skill is available now via Binance Wallet Skills. After installation, your agent can directly handle x402 payment requests using Binance Agentic Wallet – no custom payment code required. With the x402 payment skill installed, users can simply ask their Agent to handle x402 payment requests through Binance Agentic Wallet. The skill manages the entire flow, from 402 parsing and user confirmation to signing, replay, and result handling.As a practical example, let’s say you ask your agent to fetch a paid market data feed. It finds the service, shows you the price, and handles the rest – signing, payment, and delivery – all while your keys stay yours.Relying on this automation,you can possibly build:Payment-enabled DeFi agents that pay for premium data feedsAutonomous data-purchasing workflowsMulti-step on-chain automations with pay-per-use servicesAgent-driven marketplace interactionsPhase 1: What's Available NowPhase 1 of the x402 payment skill is now live on Binance Agentic Wallet, enabling the full x402 payment flow for buyers. Every payment follows a direct, non-custodial fund flow, moving straight from buyer to seller. The facilitator never holds funds; it only verifies signatures and executes settlement. Where supported, gas handling may be abstracted by the facilitator or settlement infrastructure.The skill also leverages the existing Agentic Wallet risk controls that protect users, applying sanctions screening, transaction monitoring, and built-in transaction limits, so agent payments stay safe and compliant. The x402 facilitators operate as technical service providers (TSPs), kept separate from Binance Pay flows.Supported networks include:BNB Chain – via the B402 facilitatorBase – via third-party facilitatorsSolana – via third-party facilitatorsGet started with Binance Agentic Wallet.Final ThoughtsThe agent economy has advanced quickly, but it's only as capable as the infrastructure beneath it. Payments were the missing piece, the one thing agents couldn't do without giving up custody or waiting on human approval. By bringing the x402 protocol to Binance Agentic Wallet, we've closed that gap in a way that keeps users in control: agents that can transact freely, while keys stay firmly in the hands of their owners.This is only Phase 1. As we hand more of our on-chain tasks to autonomous agents, Binance remains committed to building the infrastructure that lets them act on our behalf safely, openly, and at scale, keeping pace with everything we're ready to delegate next.Further ReadingBinance Wallet Introduces Agentic Wallet, a Dedicated Keyless Wallet for AI AgentsFrequently Asked Questions on Binance Agentic WalletIntroducing Binance x402 – HTTP-Native Programmable Payments on BNB Chain

Main TakeawaysA honeypot token can let you buy, then block you from selling and leaving you stuck, with tokens you cannot move.Watch for red flags, like “only buys,” unverified contracts, and token-owner controls that can change rules after launch.Binance Wallet helps surface token red flags and high-risk warnings based on available data, but your own research is still mandatory before buying any token.Imagine buying a token that's soaring on the chart, watching your profit climb, and then discovering you can't sell it. No matter how many times you try, the transaction fails. This is the honeypot scam, one of the first traps new DEX traders are likely to encounter. In this blog, we'll break down what a honeypot scam is, how it works, the red flags to watch for, and introduce the wallet that can help you avoid it.What Is a Honeypot Scam?A honeypot is a malicious token engineered to trap buyers. Getting in is easy but getting out is always either impossible or at a loss. When it's time to sell, your transaction fails again and again, or the amount you receive comes back far lower than expected.How Do Honeypot Scams Work?While the mechanics vary, they all lead to the same trap. Scammers commonly use these techniques, alone or combined, to create a honeypot scam:Sell blocking: The contract logic causes sells to revert or fail. Buys go through fine, but the sell can never complete.Sell limits: The token permits only very small sells, or selling at specific times, creating a false sense of safety while preventing holders from exiting any meaningful size.Whitelist and blacklist controls: The contract allows selling only for approved addresses (whitelist), blocks specific addresses from selling (blacklist), or combines the two.Tax traps: The sale itself succeeds, but fees are set prohibitively high (95%+), leaving you with almost nothing even when you can sell. For example, if you sell $1,000 worth of such a token, you may receive only $20-50 back.Hidden switches: The token behaves normally until the owner flips a setting, at which point selling becomes restricted. Tokens with strong owner permissions carry higher risk when there's no credible project behind them.Token draining: Some contracts include logic that silently moves tokens out of your wallet after purchase, for example, through malicious transfer behavior written into the code.However it's built, the underlying pattern is always the same: you can enter the trade, but you cannot exit it on fair terms.Why Do Honeypots Scams Work?Honeypots succeed by weaponizing urgency and the fear of missing out. When most holders can't sell, there's little sell pressure, so the market looks healthy and the price climbs smoothly – exactly the setup that draws buyers in. The illusion does much of the work, but scammers also exploit basic human psychology to close the trap.Eager not to miss the next big move, new users act fast and skip the checks that would reveal the danger. Instead of reviewing signals like trade history, contract verification, or owner controls, they trade on a rising chart, a viral post, or group hype. And as more buyers pile in, their capital deepens the very liquidity pool the scammer is waiting to drain.Red Flags to Check Before You Buy Any TokenBefore buying any token, slow down, do your due diligence, and check for the red flags below:Abnormal price charts: Constant buys with few or no sells. Healthy markets show a mix of both.Suspicious wallet patterns: A handful of addresses dominate volume, or many wallets trade in similar sizes and timing.Manufactured urgency: Countdown timers, "buy now" pressure, and "limited time" deals, in groups or on social media, are classic scam signals.Owner control risk: Ownership isn't renounced, meaning the owner can change fees, pause trading, or restrict addresses. Not always a scam, but a strong reason to verify the project and team.Unverified contracts: The contract source isn't verified, meaning hidden code controls whether you can sell. Treat it as a major risk.Real-Life Example: A “Hidden Switch” That Blocks SellsOne common honeypot method uses an owner-controlled "switch" that can block sells after buyers have already entered. In this example, scammers urged people in a Telegram group to buy a token, claiming it was “going viral” and that early buyers would make large profits. Victims, driven by fear of missing out, saw warnings but still went ahead, which resulted in the loss of their funds.To understand the trick, it helps to know what normally happens on a DEX:You Buy: Your funds go into the liquidity pool, and tokens come back to your wallet.You Sell: Your tokens go back into the liquidity pool, and funds come into your wallet.This hidden-switch honeypot broke the sell flow step. Here's how:Figure 1: A hidden-switch sell-blocking flowchartThe scammers deployed the token, added liquidity, and promoted it in multiple groups to get victims to buy in quickly.They kept ownership of the contract allowing them control over all functions. The contract also had a setting that would store addresses as a list, which the token code would check, before allowing a sell. This was initially left empty.After enough funds built up in the liquidity pool, the scammer silently added the liquidity-pool address to this list. So now, before any transaction, the address in the list is first checked. As a result, any transaction with the liquidity pool as the destination, representing the attempts to sell, fails.Victims ended up holding tokens they could not sell, while new buyers continued to enter, as buys still worked.The scammer later withdrew the profit and disappeared.Staying Safer with Binance WalletBinance Wallet screens tokens using available data and can surface cautions or high-risk warnings that prompt you to pause and reassess before swapping. These alerts may appear in several places, including the audit page, swap page, token page or even as a popup. Even so, the decision to proceed is always yours.Warnings aren't guaranteed, and no screening system can catch every new scam variant in real time. Treat them as a risk signal, not a verdict, and validate what you're seeing with your own checks: trade history, contract verification status, ownership controls, and project credibility. Whenever a token shows a caution or high-risk warning, treat it as a reason to stop and investigate before you proceed.Final ThoughtsHoneypot scams thrive on urgency and chart-driven decisions, pressuring you to buy before you think to check. The best protection is to slow down, understand how honeypots work, watch for the basic red flags, and let Binance Wallet's built-in warnings act as your checkpoint before every swap.But remember, no tool can make the final call for you. You are the last line of defense. Trade with Binance Wallet to put real-time risk screening on your side, then use your own judgment to stay one step ahead of the scammers.Further ReadingWeb3 Wallet Security – Stay SAFU with Binance MPC WalletAI Versus AI – How Binance Is Defending Users in the Age of Intelligent FraudBinance Wallet Security Center

Main TakeawaysContent creator and trader ThreadGuy believes that crypto traders’ skills in reading momentum, narratives, and attention become increasingly useful as traditional markets start behaving more like crypto.As access to different asset classes expands, he sees the line between crypto and traditional finance gradually blurring.For crypto users exploring traditional markets, his advice is to consume information widely, learn how new assets move, and resist limiting yourself to the market where you started.Crypto and traditional markets have long been treated as separate worlds. But as more asset classes become accessible, crypto-native investors are beginning to look beyond digital assets – and finding that the two worlds may not be as far apart as they once were.As Binance expands access to traditional markets through Direct Stocks, bStocks, and Pre-IPO Perpetuals, more eligible crypto users are beginning to explore opportunities beyond digital assets. That raises a natural question: what does the transition actually look like for someone who learned markets through crypto?We spoke with ThreadGuy, a prominent crypto-native trader and content creator with a community of more than 400,000 followers across channels, who has increasingly turned his attention to stocks, commodities, and other traditional markets. We asked him what changes when you move beyond crypto, which skills carry over, and why he believes crypto traders may be particularly well equipped for the way today’s markets are evolving.“I Learned Markets Backwards”The first money ThreadGuy made online came from flipping Supreme T-shirts and sneakers in high school. Sports cards came next, then NFTs, then Bitcoin, altcoins, and memecoins – four or five years spent almost entirely in crypto.“I feel like I learned markets backwards,” he said. “I learned how to trade in niche alternative markets first.”None of that experience involved earnings reports or valuation models. What it taught him was how to read attention and community, and how powerfully those forces can move markets.That’s how he approaches stocks today. He’s not trying to out-model people who’ve spent careers building valuation frameworks – he’s using what he already knows how to do.“The one thing I understand very well – and a lot of crypto people understand very well – is memetics, narrative, attention, and flows.”He doesn’t think that makes fundamentals irrelevant. But he does believe established frameworks are being tested by the way markets move today.“I think we're entering a regime where these things obviously matter and apply, but they're being broken in real time,” he said.Are Traditional Markets Starting to Trade More Like Crypto?For years, crypto traders imagined a future in which digital assets would rival traditional markets in scale, liquidity, and mainstream participation. ThreadGuy sees a certain irony in where markets have ended up.“People always imagine that one day crypto would trade like traditional markets,” he said. “But what’s really happened is traditional markets trade like crypto.”He sees this across stocks and commodities, from AI-linked companies to metals and oil. An asset can suddenly capture the market’s attention and build momentum quickly – a pattern he knows well from crypto.“Silver is trading like a meme coin,” he said, pointing to the intense attention around metals earlier this year. More recently, he saw the same pattern in oil, as geopolitical tensions drew in traders from across markets – including ThreadGuy himself, who had never traded it before.“The crypto guys are trading it, the stock guys are trading it. I've never traded oil in my life, and I'm trading it,” he said.ThreadGuy links this shift to changes in how people access information and markets. The same headline can reach millions of people instantly, while wider access to different asset classes means more of them can act on it. Attention and money can move into a single asset faster than before.For crypto traders, that can feel familiar. They have spent years navigating fast-moving narratives, sudden shifts in momentum, and markets where attention itself can move prices.“When you’re not familiar with these sort of Wild West markets, you kind of freeze and lock up in the moment,” he said. Crypto traders, by contrast, have spent years building that muscle.A Familiar Muscle in an Unfamiliar MarketIn practice, ThreadGuy looks for what he calls “special situations” – moments when an announcement, policy shift, or geopolitical event suddenly redirects the market’s attention.“I do like waiting for the announcements that lead to these cascading price moves,” he said. His approach is to look for opportunities around a clear catalyst and step back when its impact begins to fade.That mindset has taken him across AI and semiconductors, commodities, and event-driven opportunities. He has also been exploring what he calls the “IRL trade” – a thesis around renewed interest in real-world entertainment and events.It is a much wider field than the one he was watching a year ago. After spending years almost entirely in crypto, ThreadGuy now just follows volatility wherever it appears – whether in stocks, commodities, or crypto.The Line Between Crypto and TradFi Is BlurringThreadGuy sees the same shift happening at the platform level. Crypto platforms are expanding into traditional assets, while traditional brokers are adding crypto and other services.“Every crypto company offers stocks. Every broker offers crypto,” he said. “Both of them are trying to be a bank.”In his view, the old boundaries between different types of financial platforms are becoming less rigid. The same platform might offer access to stocks, crypto, payments, savings, and other financial services – making it less necessary for users to stay within a single market or category.For Binance users, that shift is already taking shape. With Direct Stocks, bStocks, and Pre-IPO Perpetuals opening new ways for eligible users to access traditional-market opportunities, exploring beyond crypto no longer necessarily means leaving the ecosystem behind.Important differences remain between asset classes, from market structure and trading hours to liquidity, regulation, and risk. But for ThreadGuy, there is less reason than before to limit yourself to a single category.ThreadGuy’s Advice for Exploring New MarketsFor ThreadGuy, the first step is being willing to look beyond the market you know best. That was something he had to learn himself.“I was very reluctant to pay attention to other opportunities across other markets because I have this sense of attachment to the crypto industry,” he said.His advice to other crypto traders is not to let that attachment become a limit.“Your skills are useful in other markets,” he said. “You don’t have a responsibility to only make money in the place where you started.”But entering a new market still means putting in the time to learn. When ThreadGuy began exploring traditional markets, he had plenty to catch up on – from the AI trade to semiconductors, photonics, and other unfamiliar areas.“The thing that has helped me the most as I've tried to pay attention to other markets is mass digestion of information – as much as I could possibly take in,” he said.He suggests watching experienced traders and market commentators to understand what they are watching, why particular themes matter, and how different markets react to new information.For crypto traders, that process may already be familiar. Entering crypto also means learning new terminology, following fast-moving information, and gradually building intuition around how markets behave.“It's a time and digestion problem, and it's solvable by putting in the hours,” ThreadGuy said.His final advice is to the point: “Be a sponge.”Looking Beyond CryptoThreadGuy’s journey reflects a shift that more crypto-native users can now explore for themselves. Through products such as Direct Stocks, bStocks, and Pre-IPO Perpetuals, eligible Binance users can explore a wider range of market opportunities alongside crypto.Each market comes with its own mechanics and risks, and entering a new asset class still means putting in the time to learn. But as ThreadGuy’s experience shows, crypto users may not be starting from zero. The skills built through years of navigating fast-moving markets, tracking narratives, and reading momentum can offer a useful foundation for exploring something new.Want to hear the full conversation? Watch our complete interview with ThreadGuy on Binance Square, where he shares more on his move from crypto into traditional markets, how he evaluates opportunities across asset classes, and what he is watching next.Watch the full interview on Binance SquareFurther ReadingAccessing Stocks With Crypto: Three bStocks User StoriesIntroducing bStocks – Trade and Hold Tokenized 1:1 U.S. Stocks on BinanceWhy Tokenized Securities? A Look at bStocks vs. Traditional StocksDisclaimer: Content may include third party comments and opinions. Please note that: (a) all content is presented 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. The content above shall not be construed as financial advice.Nest Trading Limited acts as your introducing broker and routes your orders for Securities to its clearing broker partner, Alpaca Securities LLC, for execution, clearing, settlement and custody. Binance does not handle or custody your Securities. Securities are subject to high market and liquidity risk and price volatility (particularly outside traditional market hours). 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. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. Binance may receive payment for order flow remuneration for directing your orders. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Securities Trading Product Terms and Risk 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. TradFi Perps are subject to high market risk and price volatility (particularly outside traditional market hours). You may be called upon at short notice to make additional margin deposits or interest payments. If the required margin deposits or interest payments are not made within the prescribed time, your collateral may be liquidated. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. TradFi Perps do not represent ownership of the relevant underlying asset. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use, Exchange Rules, Clearing Rules, Exchange Procedures, Clearing Procedures, Contract Specifications and Risk Warning.bStocks tokenized securities are classified as Certificates representing certain Financial Instruments (paragraph 92, Schedule 1 to FSMR). bStocks are not stocks or shares and bStocks do not allow holders to directly own a share or stock in the underlying listed company. bStocks do not represent any affiliation with the underlying asset's issuer. bStocks are offered through an Approved Prospectus in the ADGM and are not offered in any other jurisdiction. No public offer is made outside of the ADGM. Tokenized securities are available only to eligible users in permitted jurisdictions on a secondary market basis only. It is your sole responsibility to ensure that accessing and trading tokenized securities is lawful in your jurisdiction before proceeding. Accessing this product from a jurisdiction in which it is prohibited or restricted does not create any liability or obligation on the part of Binance. We may restrict, suspend, reject, cancel, or unwind access or transactions if we determine, in our sole discretion, that your access or transaction may breach applicable law, product restrictions, eligibility criteria, sanctions requirements, or the relevant offering documents. Tokenized securities may be held and transferred on-chain outside the CSD environment. The transfer of tokenized securities back into the CSD environment is subject to conditions and you may be unable to trade, redeem or otherwise deal with the tokenized securities within the CSD environment if such conditions are not fulfilled.No information displayed in connection with tokenized securities is intended as an offer, solicitation, promotion, recommendation, or invitation to buy or sell securities in any jurisdiction. tokenized securities are not offered, sold, distributed, made available, or accessible in the United States or to, or for the account or benefit of, U.S. persons. The tokenized securities have not been and will not be registered under the U.S. Securities Act of 1933 or any U.S. state securities laws and a public offering of bStocks will not be conducted in the United States or any other jurisdiction (other than the ADGM). By accessing this product, you represent and warrant that you are not a U.S. person, are not located in the United States, are not acting for the account or benefit of any U.S. person, and will not access, purchase, sell, transfer, redeem, or otherwise transact in tokenized securities from within the United States. For more information, see the Terms of Use, Exchange Rules, Exchange Procedures, relevant Prospectus (if applicable to you and understanding that the offer is only made in ADGM, no public offer is being made elsewhere and viewing the prospectus does not constitute an invitation or solicitation outside ADGM), bStocks Minting and Redemption Product Terms, Admission to Trading Notice and Risk Warning.