Binance Monthly Review, Sep 2021: Moving Crypto Forward
In September 2021, we strengthened our commitment to compliance and user protection with new initiatives, Binance NFT introduced ‘deposit’ feature for BSC and ETH NFTs and Binance Charity announced the Tree Millions Alliance.
Fellow Binancians,
This month we enjoyed some strange and interesting crypto stories, including Jack Dorsey’s Twitter tip with Bitcoin announcement, a crypto trading hamster performing better than Warren Buffet and Missouri Mayor Jayson Stewart’s recent pledge to give every Cool Valley household $1,000 in Bitcoin. Now onto last month’s market recap.
September Market Recap: Bumpy Road
September marked a bumpy month for cryptocurrencies as the total crypto market cap decreased around 9.5%, from ~$2.08T on Sep 1, 2021 to ~$1.9T on Sep 30, 2021. As of writing, the crypto market cap stands at ~$2.1T.
Bitcoin (BTC) briefly traded at $40k on Sep 22, 2021. It currently trades at ~$47,815. as of writing.
During the same period, Ethereum (ETH) briefly traded below $3k, hitting ~$2,730 on Sep, 22 2021. At the time of writing, Ethereum trades at ~$3,365.
The Big Story: Our Proactive Action Plan
1. CZ Shares Our Approach to Compliance
Hi Binancians! I recently shared my thoughts on crypto’s regulatory process and the proactive approach we’re taking. We firmly believe that by working alongside regulators and policymakers to develop clear regulatory and legal frameworks, engaging in active self-regulation and putting our users first by protecting their interests, we can help welcome the next billion users to the world of crypto. Take a look at the active steps we are taking to shape our robust compliance program and protect our users.
Read my open letter on crypto compliance
2. New and Improved KYC Policies
As part of continuous efforts to strengthen user protections, risk management protocols, and overall security, we have recently implemented a new KYC requirement for all users to be ‘Verified.’ In a recent announcement, we shared how the new requirement supports our wider efforts to create a sustainable ecosystem that is safe for all users.
Learn about our updated KYC policies
3. Welcome Our New Additions to the Binance Team
In the past month, we’ve made several strategic hires to safeguard the crypto ecosystem. Our new hires bring a wealth of experience—ranging from former IRS agents to Dark Web experts—and further strengthen our compliance capabilities and already-strong security team.
Learn more about Tigran Gambaryan, Matthew Price, Zane Wong, Nils Andersen-Röed and Aron Akbiyikian.
Make Your First Binance NFT Deposit
Our latest update introduces fresh features such as Creator Profiles, a brand new captcha system, and most importantly, Binance NFT’s first-ever ‘Deposit’ feature. Users will now be able to withdraw NFTs from BSC & ETH and deposit them on Binance NFT Marketplace.
Discover the latest features and updates to Binance NFT
Binance Charity Plants 10 Million Trees
Binance Charity is teaming up with Binance NFT to plant ten million trees worldwide. For every donation made, we’ll issue an NFT certificate encrypted with the details of the tree that was planted. 100% of the proceeds will go towards our global tree-planting movement.
Join the World's Largest NFT Tree Planting Project
...Did We Mention NFT Tuesdays Part II
Thank you to everyone who tuned in this week for Binance NFT Tuesdays II. We hope you gained some new skills and insights on trading, managing and growing your NFT collection. If you missed the last two webinar sessions, you can click below for the full recordings.
Watch Webinar #1: 2021 Guide to GameFi and Webinar #2: NFT Tips & Binance NFT Guide. RSVP for Webinar #3: What’s Next in Blockchain Philanthropy?
What’s Ticking on The Exchange?
New listings this month:
Yield Guild Games (YGG): Yield Guild Games is a Decentralized Autonomous Organization (DAO) that invests in Non-Fungible Tokens (NFTs) used in virtual worlds and blockchain-based games. YGG is the platform utility token, which can be used for yield farming, staking for exclusive content and payment for network services.
Illuvium (ILV): Illuvium is a 3D, RPG blockchain game that involves collecting creatures and battling. ILV can be staked for in-game currency, passive income and voting privileges for governance proposals.
Gala (GALA): Gala is a gaming and NFT platform that aims to build an ecosystem of blockchain games. GALA is the platform utility token and is used for node operator incentives, network governance, in-game rewards, and making purchases on the Gala store.
Gnosis (GNO): Gnosis allows users to create, trade, and hold digital assets on Ethereum through a variety of products, including Gnosis Safe, Gnosis Protocol and GnosisDAO.
Bonfida (FIDA): Bonfida is an ecosystem built on Solana and consists of products including (1) an on-chain perpetual swap; (2) Solana name service for auctioning and transacting readable Solana addresses; and (3) Bonfida Bots which allow users to automate trading strategies and do copy-trading on Serum DEX.
New Trading Pairs:
September 30, 2021: ALICE/BIDR, ARPA/BUSD, AVAX/BIDR and LSK/BUSD (Read more)
September 9, 2021: AXS/BIDR, ELF/BUSD, IDEX/USDT, POLY/USDT, SOL/BIDR and VIDT/USDT (Read more)
September 8, 2021: ELF/USDT and POLY/BUSD (Read more)
This Month’s Ongoing Activities:
Refer Friends, Win Binance Gift Cards. Refer friends to sign up with your unique referral link to share a prize pool of $3,500 in Binance Gift Cards! Activity ends Oct 5. (Read more)
ARPA Race: Up to 377,500 ARPA Tokens to Be Won! Activity ends Oct 6. (Read more)
ETH Dual Investment. Subscribe to ETH dual investment products to share a prize pool of $20,000 in BNB. Activity ends Oct 5. (Read more)
Binance Affiliates Exclusive. Encourage your referrals to KYC and you’ll get a chance to split $25,000 BUSD in rewards. Activity ends Oct 21. (Read more)
Other News Beyond The Exchange
Liquid Swap trading competition. During the competition period, all users who trade in the ONE/USDT Pool will stand a chance to share 250,000 ONE tokens. (Read more)
Buy ARPA with a credit/debit card. New fiat currencies available for ARPA token purchase: AUD, BRL, CLP, COP, CZK, DOP, EUR, GBP, KZT, MXN, PAB, PEN, PHP, PLN, RUB, SVC, TWD, UAH, VEB. (Read more)
We recently rebranded our KYC process. As part of our compliance efforts to prioritize user protection, intermediate verification will be reflected as “Verified” and advanced verification will be reflected as “Verified Plus”. (Read more)
Highlights By The Week
Week 1 Highlights
Welcome Aron Akbiyikian. We’re thrilled to welcome Aron Akbiyikian to the Audit and Investigations team, where he’ll help ensure that Binance and the larger crypto industry are a safer place for all. (Read more)
Week 2 Highlights
Try Recurring Buy. A brand new feature that allows you to set automatic buys for your favorite cryptocurrencies. With recurring buys, you can use VISA/Mastercard to schedule DCAs on your portfolio and save the hassle of making manual purchases. (Read more)
Become a Binance Futures Content Creator. As a member of the Binance Futures Content Creator Program, you could earn up to 1,600 BUSD in rewards every month. (Read more)
Week 3 Highlights
CZ AMA. CZ recently made a special appearance on Binance LIVE to answer the community’s top questions. If you missed the event, you can download the Binance App to find the full recording of the Livestream. (Download Binance App)
Binance welcomes Nils Anderson-Röed. The ex-Europol Dark Web specialist will conduct and lead internal and external investigations to identify and combat malicious actors across all of Binance’s platforms. (Read more)
Binance Futures Turns Two! Since our debut in 2019, we’ve launched over 170 futures products and become the first major exchange to offer a Responsible Trading program. (Read more)
Week 4 Highlights
Combating financial crime. Our investigative team recently assisted the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) in identifying and disabling illicit accounts from a Russian-based entity known as Suex OTC. (Read more)
Level Up Your Crypto Game (With Academy Articles)
Enter the Metaverse. Take a deep dive into the future of the internet—a persistent virtual universe where people can socialize, work, game and more. (Read more)
Integrate your Nano Ledger to BSC. Learn how to set up your cold storage device to work with Binance Smart Chain. (Read more)
Everything you need to know about AVAX. Learn all about the Avalanche network, including its history, features and use cases. (Read more)
NFT Games 101. Gaming and passive income? Learn all about NFT games and how they work in this article. (Read more)
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