This Week at Binance: July 30 - Aug 6, 2021
In today’s edition of This Week at Binance (July 30 to Aug 6, 2021): We continue our commitment to compliance, go behind the scenes with a long-time Binance Angel, talk to Gary Vee on our latest Binance podcast, announce our new Tax Reporting Tool and more.
Fellow Binancians,
Summer is in full force! Take a break from the charts, enjoy the sun outside and get your daily dose of Vitamin D or practice your walking so you can become an Olympic speed walker.
Weekly Market Recap
This week we saw the total crypto market cap increase 8.44%, from $1.54T on July 30th to $1.67T at the time of writing.
Bitcoin (BTC) increased to a weekly high of ~$42,345 on Aug 1 before bouncing off a low at ~$37,662. BTC currently trades at ~$40,593 as of writing.
During the same period, Ethereum (ETH) increased from ~$2355 on July 30th to a weekly high of ~$2,827. ETH currently trades at ~$2,741 as of writing
1. Binance takes proactive steps to restrict derivatives product offerings in Hong Kong
As part of our ongoing commitment to compliance, we're working to build a safe crypto ecosystem with an emphasis on long-term, sustainable growth. Earlier this week, we announced that Binance will be the first major cryptocurrency and digital assets exchange to proactively restrict access to derivatives products to Hong Kong users. We look forward to working proactively with policymakers to create positive crypto regulations for the benefit of the larger crypto ecosystem.
2. Binance NFT launches the 'Bit Has Memories' collection, featuring artwork from top NFT artists
Binance NFT's latest premium event collection brings together 9 trending NFT artists, including Krista Kim, Ali Sabet, Kefan404, A.L. Crego, Joseba Elorza, Twisted Vacancy, Ondrej Zunka, Codedcrypt and Gene Kogan. Explore the collection3. From Crypto Newbie to NFT Extraordinaire: Life as a Binance AngelIf you've ever wanted to apply for the Binance Angels Program, look no further. Read Sen's account of his crypto journey from beginner to Binance Angel and best-selling NFT artist. Read Sen's Story
4. Introducing the Binance Tax Reporting Tool
Stay on top of your crypto tax requirements with our brand new tax reporting tool. Instantly generate statements and transaction records dating back to more than one financial year, and integrate with third-party tax vendors to file your taxes in seconds.
Learn how you can report your taxes on Binance
5. Binance Podcast with Gary Vaynerchuk (Gary Vee) about NFTs, the Internet, and more
Gary Vee, serial entrepreneur, author, speaker and wine critic tuned into our latest Binance Podcast to drop doses of insight and inspiration on topics ranging from crypto, NFTs, and most important of all—living a happy life.
Watch the full recording of the podcast
6. Binance Labs announces strategic investment with NFKings
Binance’s venture capital arm and incubator, Binance Labs, officially announced its investment with NFKings, a leading NFT creatives and production company with over 100 intellectual properties (IPs), to build an inclusive ecosystem, foster the growth of NFT and bring unique digital content to the global community.
Other Bits to Consider
Binance Staking Launches OAX Staking with Up to 23% APY. Starting from Aug 3, earn up to 23% APY when you stake your OAX. (Read more)
Binance Resumes ETH and ERC-20 Tokens Deposits and Withdrawals. The Ethereum London Hard Fork has been completed and no new tokens have been created. Binance has resumed ETH and ERC-20 tokens deposits and withdrawals. (Read more)
0 Maker Fees for GHS, KES and ZAR on Binance P2P. From now till August 30, All eligible makers who post new BNB, BTC, BUSD, DAI, ETH and USDT ads traded with fiat currencies GHS, KES and ZAR during the activity period, will enjoy 0 transaction fees on these trading pairs during the period. (Read more)
BAKE and TRX on Binance Liquid Swap. We’re excited to announce that Binance Liquid Swap has added support for BAKE and TRX, and opened 7 new liquidity pools. (Read more)
Educational Bits From the Academy
How is crypto taxed? HODLer or trader, you’ll need to pay taxes on your crypto at some point depending on your jurisdiction. Find out what you need to know in this article about crypto taxes. (Read more)
The best wallets for BSC. The right crypto wallet depends on what you need and prefer. Learn about the different wallets on Binance Smart Chain and pick the right one for your crypto journey. (Read more)