Binance Square
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Binance Trending Tokens Daily Update (May 23)

The 10 Most Searched Tokens on Binance.com 1. $PEPE: +4.55% 2. $NOT: -3.59% 3. $PEOPLE: +6.83% 🚀 Explore more on Binance Square now: https://www.binance.com/square
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Binance Market Update (2024-05-22)

The global cryptocurrency market cap now stands at $2.61T, up by 7.60% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $69,163 and $71,475 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $70,018, down by -1.36%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include PEOPLE, EDU, and PEPE, up by 35%, 30%, and 24%, respectively. Top stories of the day: Ether Price Reaches Two-Month High Against Bitcoin as Bitcoin Tests $69K Level Ahead of ETF Decision 10x Research: Crypto Crucial in US Presidential Election; Major Revamps Expected Before May 28 Deadline BlackRock’s Bitcoin ETF Sees 6-Week Inflow High Amid Early-Week BTC Rally Ethereum Small Wallets Reach Record High While Large Holders Decrease Pepe Coin Soars to New High Amid Rising ETH Prices and Renewed ETF Approval Hopes Bitcoin On Course for 'Real Deal' Market Pump Towards $90K, Say Crypto Traders Terraform Co-Founders Allegedly Met With Montenegro Prime Minister Before Arrest  Hong Kong Privacy Commissioner Halts Worldcoin's Operations Due To Privacy Violations Uniswap Labs 'Ready to Fight' Potential SEC Enforcement, Supports the Financial Innovation and Technology for the 21st Century Act Reports Suggest, US SEC Likely to Approve Spot Ethereum ETF Market movers: ETH: $3746.24 (+2.23%) BNB: $622.5 (+0.42%) SOL: $180.13 (-0.88%) XRP: $0.5348 (-1.51%) DOGE: $0.16845 (+3.08%) ADA: $0.4866 (-3.05%) AVAX: $41.06 (+1.86%) SHIB: $0.00002594 (+2.05%) DOT: $7.583 (+0.62%) WBTC: $70087.07 (-1.27%) Top gainers on Binance: PEOPLE/USDT (+35%) EDU/USDT (+30%) PEPE/USDT (+24%)
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OTC Weekly Trading Insights (05/22/2024)

Last week, our Convert Portal experienced a surge in trading demand for the meme coin ConstitutionDAO ($PEOPLE). ConstitutionDAO was a crowdfunding campaign to purchase a first-edition copy of the United States Constitution. The $PEOPLE token represents a share of the ConstitutionDAO. Since the bid for the document failed, the PEOPLE token now represents a DAO movement of historical significance.  In the most recent development, the Fantom Foundation has revealed more information about its new Layer-1 blockchain Sonic Network, which connects to Ethereum via Layer-2 bridge. This will enable Sonic to access a large number of users, liquidity, and other protocols. The Foundation will introduce $S tokens on Sonic network to match the supply of $FTM. Users will be able to exchange their $FTM tokens for $S tokens on a 1:1 basis. By connecting to Ethereum, the Sonic network ecosystem will gain the full benefits of a layer-1 blockchain while also providing native access to ETH. GALA Games, a play-to-earn blockchain platform, was hacked on Monday, and the hacker minted 5 billion GALA tokens to a private address. The hacker exchanged 600 million GALA for 5.913 ETH afterward. The $GALA price dropped over 22% in two hours due to a large dump on Uniswap. The price stabilised after the platform noticed the system compromise and froze the remaining 4.4 billion tokens in the hacker's wallet. PENDLE, a leading restaking project, saw significant trading demand in response to rumours of potential ETH ETF approval. $PENDLE, which has a high beta profile compared to ETH, was heavily bid on the market after ETH took off on Monday. Last week, the $PENDLE price rose by 60.7%, with the majority of the increase occurring on Monday. Overall Market The above chart shows the BTC price movement in the last three months. As we mentioned to our readers last week, our desk saw bullish sentiment on BTC following the cooler CPI data in the United States. Furthermore, the risk reversal on the options market indicates that the market's sentiment has shifted from bearish to neutral. Last Thursday, the United States Senate joined the House of Representatives in repealing the controversial Securities and Exchange Commission (SEC) cryptocurrency policy known as Staff Accounting Bulletin No. 121. SAB 121, issued by the agency in 2022, held that a company that holds a customer's cryptocurrencies must record them on its own balance sheet, which could have significant capital implications for banks that work with crypto clients. Furthermore, we saw a net inflow from US Bitcoin ETFs for six consecutive days beginning last Monday, when Bitcoin traded above the $61k key level. The strong inflows from Bitcoin spot ETFs demonstrated strong demand from investors seeking Bitcoin exposure. On Monday, the US SEC requested amended 19b-4 filings for spot Ethereum ETFs within a short timeframe, signalling an abrupt turn on potential ETH ETF approval. Following the news, Bloomberg analysts estimated a 75% chance of approval by the end of May, up from 25% a week earlier. The ETH price increased by more than 20% due to strong demand on the spot market, pushing the Bitcoin price above $71k, just inches away from the all-time high of $73,777 set in March. Because of the large gains on BTC and ETH in the last two days, our desk expects some consolidation here, as traders take profits. If the BTC price surges above the green zone above with high volume, we may see the next leg up for Bitcoin towards the $100k mark by the end of the year. Options Market The above chart shows the 25-delta skew of ETH options with different tenors. On Monday, the US Securities and Exchange Commission asked for amended 19b-4 filings for spot Ethereum ETFs within a short time frame. In response to the news, the ETH price chart showed a vertical k-line, indicating a strong bullish market with increased demand. The 25-delta skew for ETH options increased by more than ten points in response to the heavily bidding ETH spot price. This indicates that options traders were also rushing for ETH calls, either opening long or closing short positions, or both. The SEC's unexpected action on ETH spot ETFs boosted the implied volatility of ETH options.  However, the risk reversal on ETH options retraced quickly following the initial move-up because of the increasing odds of a potential approval of ETH ETFs by the SEC. Currently, the risk reversal indicates a very negative skew on ETH options with short tenors, whereas options with longer tenors continue to show positive risk reversals.  The negative risk reversal signal on ETH options with short tenors indicates that options traders would rather pay a higher premium for puts to cover the downside risk than buy calls for potential upside gains. The observation supports our forecast for the market to consolidate around the current level in the coming days, with some profit-taking. Macro at a glance  Last Thursday (24-05-16) US initial jobless claims increased from 232k the previous week to 222k last week, exceeding the expected 219k. The US labour market is cooling, increasing the likelihood of a rate cut by the Federal Reserve in September. Last Friday (24-05-17) In April, Eurozone CPI growth was 2.4% year on year, aligning with the rate seen in March. The monthly CPI growth rate decreased from 0.8% in March to 0.6% in April. The annualised core CPI growth rate decreased from 2.9% in March to 2.7% in April. The Eurozone's inflation rate is around the European Central Bank's target rate of 2% and trending lower, indicating a high likelihood of the ECB's first rate cut in June. On Tuesday (24-05-21) According to Statics Canada's CPI data, prices rose 0.5% monthly and 2.7% annually, as expected by economists. The cooler CPI data comes after March's 0.6% MoM and 2.9% YoY readings. The lower inflation rate makes it more likely that the Bank of Canada will cut interest rates for the first time this cycle in June. Later this week, we have The April CPI readings in the UK this Wednesday The FOMC Meeting Minutes will be released this Wednesday Convert Portal Volume Change The above table shows the volume change on our Convert Portal by zone.  This week, our trading volume on Convert increased significantly, with the Monitoring zone showing the greatest percentage increase. Last week, the two tokens with the highest trading demand were Unifi Protocol DAO ($UNFI) and Cream ($CREAM), which contributed significantly to the Monitoring zone's volume increase of 66.0%. The Metaverse zone saw a 35.6% increase in trading volume on Convert last week. FLOKI ($FLOKI) is the primary driver of volume growth in this zone. During the same time period, volume in the gaming zone increased by 30.9%. Following the hack news, our desk observed a surge in trading demand for GALA ($GALA). Why trade OTC?   Binance offers our clients various ways to access OTC trading, including chat communication channels and the Binance OTC platform (https://www.binance.com/en/otc) for manual price quotations, Algo Orders, or automated price quotations via Binance Convert and Block Trade platform (https://www.binance.com/en/convert) and the Binance Convert OTC API.  Email: trading@binance.com for more information. Join our Telegram (https://t.me/BinanceOTC) to stay up to date with the markets!
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Looking to Increase Your Commission Earnings? Integrate the News Bot into Your Telegram Groups/Channels

Contact Binance News: binancenews@binance.com Updated April 22, 2024 How to Earn Commissions with  Binance News? Want to not only stimulate lively discussions within your community but also earn commissions? Binance News introduces a Telegram bot that shares carefully curated news articles selected by our expert editorial team. We extend a warm invitation for you to seamlessly integrate this bot into your Telegram communities, providing your users with up-to-the-minute news and market insights. When sharing news pieces with your followers, the bot will integrate your referral ID into links. For every new user successfully referred to Binance via the links, the referrer will receive a commission on fees anytime the new referred user trades on any of Binance’s Spot or Margin markets. For more details, please refer to the Binance Standard Referral Mode Guide: https://www.binance.com/en/support/faq/binance-standard-referral-mode-guide-cbac15853b0243cda4a90c9c03ca0c38 .  How Can You Get Started? 1) Add the bot (@OfficialBinanceFeedBot) to your Telegram groups or channels and grant it permission to send messages. 2) Find your Referral ID in the Standard Referral tab and decide whether to create one specifically for the bot (Learn more about how to get your Referral ID: https://www.binance.com/en/support/faq/how-to-use-binance-referral-program-e4df6cfe66d940debdc1c77d05ae3381) 3) After completing the two steps mentioned above, simply share your group or channel links along with your Referral ID with the Binance News team, and we'll take care of the rest with our tech team. Note: Please contact us, and our technical team will assist you with the necessary configuration. Simply adding the bot as a group member will not successfully share news articles into the group. The bot is currently available in English, Simplified Chinese, and Traditional Chinese, with more languages coming soon. Why Partner with Binance News? Top-Quality Content for FREE Traditionally, procuring content licenses from leading crypto media outlets could cost over $5000 USD monthly. Binance is revolutionizing this landscape by offering premium content to our valued partners at no cost. Boost Your Credibility Through Partnership with Binance News As the official news channel of the world's largest crypto exchange, Binance News boasts the highest number of followers on Binance Square. This underscores the trust and reliance placed in Binance News. By seamlessly integrating Binance News content into your platform, you not only provide invaluable insights to your users but also enhance the credibility of your brand. About Binance News Binance News (https://www.binance.com/en/feed/news/all) stands as the foremost news source within Binance Square, one of the world's largest crypto communities. Committed to delivering real-time market data and the latest trends, Binance News ensures your audience remains consistently ahead in the dynamic realm of cryptocurrency.
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Binance Market Update (2024-05-20)

The global cryptocurrency market cap now stands at $2.43T, down by -0.36% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $65,857 and $67,700 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $66,940, down by -0.07%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include CREAM, FARM, and OOKI, up by 36%, 16%, and 11%, respectively. Top stories of the day: MicroStrategy's Chairman Encourages Betting On Bitcoin Amidst Price Pause ETFs Acquire Thrice the New BTC Supply: Key Takeaways in Bitcoin Market This Week Genesis To Reimburse Customers In Bitcoin And Ethereum Claims Federal Reserve Meeting and Nvidia Earnings Report to Influence Markets Five On-Chain Indicators Suggest Cryptocurrency Bull Market Is Just Beginning 10x Research: Bitcoin Could Break New Records If It Surpasses $67,500 Silver Surpasses Bitcoin To Become The Eighth Largest Asset By Market Cap Ten U.S. Bitcoin Spot ETFs Amass Over $36 Billion in BTC Since Listing SEC Set to Decide on Ethereum Spot ETF This Week Federal Reserve's Balance Sheet Contracts to $7.3 Trillion Market movers: ETH: $3106.26 (+0.18%) BNB: $576.3 (-0.45%) SOL: $177.58 (+3.12%) XRP: $0.5138 (-1.02%) DOGE: $0.15143 (-0.60%) ADA: $0.468 (-1.41%) SHIB: $0.00002391 (-2.61%) AVAX: $36.19 (-1.09%) TRX: $0.12144 (-0.52%) WBTC: $66991.45 (+0.01%) Top gainers on Binance: CREAM/USDT (+36%) FARM/USDT (+16%) OOKI/USDT (+11%)
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Binance Web3 Wallet Unveils Innovative 'Yield Plus' and 'Simple Yield' Features to Boost DeFi Opportunities

Binance Web3 Wallet announced the introduction of 'Yield Plus' and 'Simple Yield' features. These fresh additions have been crafted to extend the reach of DeFi opportunities directly through the Binance Web3 Wallet Earn section. The 'Yield Plus Zone' is an exceptional feature tailored to feature projects offering potential airdrops or extra yield opportunities. It provides a one-stop portal for users to easily engage with projects promising multiple layers of rewards. The launch phase includes projects like Eigenpie, Kamino Finance, Lista Dao, Marinade, Ondo Finance, Renzo, StakeStone, and SolBlaze. Binance Web3 Wallet also plans to announce future exclusive campaigns via the Binance Web3 X account. Meanwhile, the 'Simple Yield Zone' enables users to earn an Annual Percentage Rate (APR) with stablecoins and other tokens simply by providing liquidity to specific lending protocols. Based on the selected protocol, users depositing liquidity can secure both the Supply APR and the Distribution APR. With these newly developed features, Binance Web3 Wallet amplifies user experience by offering enriched earning opportunities in the rapidly evolving DeFi landscape. SAFUGPT News Headline: "Ether and Bitcoin Kick Off Asia Trading Week Unchanged; Market Eyes ETH ETF Decision and Nvidia Earnings" The opening of the Asian trading week saw Ethereum and Bitcoin trading flat as the market anticipates an ETF decision and Nvidia's earnings report. Bitcoin's price was stable at $67,156 while Ethereum traded at $3,127, according to CoinDesk Indices data. Crypto markets inch into this week following a bullish spell last week, reignited by investors' hopes for a U.S. rate cut and a rally in stocks. Going forward, the Securities and Exchange Commission will be announcing its decision on VanEck's Ether exchange-traded fund (ETF) on May 23, and Ark/21 Shares on May 24. Despite the market pricing in rejection of the initial Ether ETFs, March Zheng from Bizantine Capital suggests reasons for optimism. He believes regulatory matters relating to Ethereum's recognition as commodities by the Commodity Futures Trading Commission could pave the path for future approval, signaling eventual acceptance in the next year. Current figures from Polymarket indicate a 28% chance of Ether ETF approval in 2021. Furthermore, Zheng speculates that encouraging news around Ether ETFs could bolster trading sentiments for the Layer-2 network, BASE, whose native token's price plunged almost 25% in the past two weeks. Nvidia's anticipated earnings report on Wednesday is another pivotal event. Bitcoin's performance often shows significant correlation with Nvidia, with AI-themed tokens mirroring similar behaviors. While the connection between Nvidia and Ethereum's market movements is not as pronounced as during the mining boon, robust Nvidia earnings could potentially raise the overall crypto market.
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Boost Your Earnings with Binance Square’s “Write to Earn” Promotion: A Comprehensive Guide

Are you a content creator looking to monetize your passion for cryptocurrency? Binance Square’s “Write to Earn” promotion offers an exciting opportunity to earn commissions by sharing your insights on the Binance platform. Whether you're a seasoned trader or just starting, this guide will walk you through everything you need to know about participating in this promotion. Discover how you can earn a 5% trading fee commission from your readers' trades and boost your income by creating engaging qualified content. Let’s dive into the details! Q1. : What is the Binance Square “Write to Earn” promotion?  A: The Binance Square “Write to Earn” promotion allows creators to earn a 5% trading fee commission from their readers' spot, margin, and futures trades by posting eligible content on Binance Square. Q2: Who is eligible to participate in this promotion?  A: To participate in the promotion, Binance Square creators must: Complete account verification. Set up a profile on Binance Square (avatar and nickname). Post at least seven times (with each post being over 200 characters) on Binance Square in the past 30 days. Q3: How can I participate in the promotion?  A: To participate, follow these steps: Click the [Register Now] button on the promotion page. Publish qualified content (short posts, long articles, or polls) on Binance Square. Earn 5% in trading fee commissions from regular and VIP 1-2 users’ spot, margin, and futures trades when they trade directly after interacting with your qualified content. Q4: What type of content counts as qualified?  A: Qualified content includes short posts, long articles, or polls published on Binance Square after registering for the promotion. Note: Content with Quiz Red Packets will not qualify for commission rewards. Q5: How can I enhance my content to earn rewards?  A: Enhance your content by including: A candle chart widget for the coin mentioned. A coin cashtag (e.g., $BTC) for better navigation and clarity. Mention of trending coins, which the system will automatically detect and highlight. Readers who trade after clicking on your content will help you earn 5% in trading fee commissions. Q6: If I mention a trending coin in my content without using a coin cashtag or adding a candle chart widget, will it still be recognized?  A: The system may detect mentioned coins automatically. However, to ensure clarity and maximize your earning potential, it’s recommended to add a candle chart widget or include a coin cashtag when discussing specific coins. Q7: How and when will the rewards be distributed?  A: Commission rewards are calculated weekly by Binance and distributed in FDUSD to participants' Funding wallets by the following Thursday at 23:59 (UTC). Distribution records are available in “Wallet” -> “Funding” -> “Transaction History” -> “Pay.” Rewards are only distributed if the weekly commission is at least 0.1 FDUSD. Q8: Where can I see updates on the rewards?  A: If you earn at least 0.1 FDUSD in commissions during any week, your performance will be updated on the promotion page by the following Thursday at 23:59 (UTC). You can view your overall rewards, previous week’s rewards, and rewards per content piece on the promotion page. Q9: Am I eligible to receive commissions from my own transactions on Binance?  A: No, Binance Square creators cannot earn trading fee commissions from their own spot, margin, or futures trades. Q10: Who will be counted as eligible readers for contributing commissions on Binance?  A: Regular and VIP 1-2 users who trade directly after clicking on eligible sections within your content are considered eligible readers. Users need to update their Binance mobile app to version v2.81 or later if they are using the app. Q11: Are there any actions that might make me ineligible to participate or receive rewards?  A: Yes. Accounts that are illegally bulk registered or sub-accounts are not eligible. Breaching Binance Square Community Management Guidelines or Platform Terms and Conditions may also cancel eligibility. Q12: How can I earn a higher commission rate from the Write to Earn campaign?  A: Creators with more than 10,000 followers on Binance Square as of May 20, 2024, who meet other tiered reward program requirements, may earn up to 25% in extra commissions during the campaign period. Learn more about the tiered reward program here.
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Binance Market Update (2024-05-18)

The global cryptocurrency market cap now stands at $2.40T, up by 0.45% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $65,828 and $67,451 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $67,018, up by 1.23%. Most major cryptocurrencies by market cap are trading higher. Market outperformers include FOR, CREAM, and ZRX, up by 37%, 28%, and 22%, respectively. Top stories of the day: BNB Chain Announces 67% Completion Of BNB Staking Migration  Litecoin Network Achieves Milestone with Over 245 Million Transactions Bi-Weekly Market Update: Near Protocol Leads With 10% Gain, Cosmos and Aptos Dip  Only 25% of Bitcoin ETF Holdings Disclosed in 13F Document, Totalling $15 Billion, Says CoinShares Research Director US SEC Expected To Announce Decision On Ethereum Spot ETF Applications Bankrupt Crypto Lending Firm Genesis Global To Return $3 Billion To Clients  Fidelity's FBTC Sees Net Inflow of $99.4 Million  US Federal Reserve Board Member Indicates Willingness to Support Interest Rate Hike  Institutions Increasingly Adopting Bitcoin, Says SkyBridge Capital Founder  Shiba Inu Struggles to Break Key Resistance Level, Faces Potential Decline Market movers: ETH: $3112.4 (+2.69%) BNB: $579.9 (+0.55%) SOL: $173.57 (+3.12%) XRP: $0.524 (+0.85%) DOGE: $0.15514 (+1.27%) ADA: $0.4822 (+0.37%) SHIB: $0.00002491 (+0.44%) AVAX: $37.23 (+2.51%) TRX: $0.12434 (+0.19%) WBTC: $66997.96 (+1.00%) Top gainers on Binance: FOR/USDT (+37%) CREAM/USDT (+28%) ZRX/USDT (+22%)
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Binance Market Update (2024-05-17)

The global cryptocurrency market cap now stands at $2.39T, up by 5.72% over the last day, according to CoinMarketCap data. Bitcoin (BTC) has been trading between $64,603 and $66,752 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $66,206, down by -0.08%. Most major cryptocurrencies by market cap are trading mixed. Market outperformers include NOT, LINK, and LOOM, up by 742%, 19%, and 17%, respectively. Top stories of the day: Binance Aids Taiwan Authorities in a Major Virtual Asset-Related Money Laundering Case Worth Nearly NT$200 Million Binance Security Unveils Anti-Poisoning Algorithm to Safeguard Users’ Digital Assets Bitcoin Analysis: Break Above $70K Essential, Charts Otherwise 'Noise,' says Analyst  BlackRock's Bitcoin ETF Surpasses Rivals in Key Metrics  Solana's Market Trajectory Takes a Significant Leap Forward Pump.fun Attacker's New Token FSA Witnesses an Enormous 89,016.79% Increase After Launch CME's 'Fed Watch' Data Predicts High Probability for Unchanged Interest Rates in June and August Reuters Survey Points to a Fourth Quarter Interest Rate Cut by RBNZ U.S. Unemployment Claims Drop as Labor Market Exhibits Strong Momentum K33 Research Analyst: Nearly 1,000 Professional Firms Invest in U.S. Bitcoin Spot ETF as of March End Market movers: ETH: $3030.8 (+0.93%) BNB: $576.7 (-0.91%) SOL: $168.33 (+3.57%) XRP: $0.5196 (+0.19%) DOGE: $0.15322 (-1.38%) ADA: $0.4805 (+5.58%) SHIB: $0.0000248 (-2.13%) AVAX: $36.32 (+5.06%) TRX: $0.12411 (-0.39%) DOT: $7.254 (+5.05%) Top gainers on Binance: NOT/USDT (+742%) LINK/USDT (+19%) LOOM/USDT (+17%)
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Binance Aids Taiwan Authorities in a Major Virtual Asset-Related Money Laundering Case Worth Nearly NT$200 Million

Binance's Financial Crimes Compliance (FCC) department recently collaborated with Taiwan's Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office. The joint effort led to the successful resolution of a substantial criminal case involving money laundering through virtual assets, worth nearly NT$200 million. Binance was instrumental in the investigation, providing crucial insight and assistance to Taiwanese authorities. The case revolved around illegal operators who facilitated scam groups in money laundering through virtual assets, using fake customer conversation records, remittance proofs, and falsified identity verification data to appear legitimate. Upon request, Binance cooperated promptly, establishing a cross-border online meeting with the investigating officers and prosecutors, where Binance's seasoned FCC teams furnished valuable recommendations based on cryptocurrency flow analyses. This collaboration helped detect potential suspects more effectively. Prosecutor Lo Wei-yuan of the Taipei District Prosecutors Office indicted nine suspects charged with aggravated fraud, violation of the Money Laundering Control Act, and organized crime prevention regulations. The successful operation underscores the importance of public-private collaboration in combating financial crimes. Binance's cooperation with global law enforcement agencies fortifies its commitment to counter financial crime and safeguard the digital-asset ecosystem. Binance has also assisted with international law enforcement collaborations in the Netherlands and India. In its capacity as an industry leader, Binance remains diligent in user protection and cooperation with global law enforcement to champion the safety of the worldwide digital-asset ecosystem.
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BinanceBuild April 2024: Recap of Improvements in Binance Ecosystem Driven by User Feedback

In April 2024, the various Binance teams processed an impressive 396 product and feature ideas submitted by users via the Feature Request & Feedback Board, as noted in the recent #BinanceBuild recap. Given the market's current momentum, suggestions for improvements in asset management tools and security features received particular attention. In response, Binance executed several enhancements to its two-factor authentication and passkey procedures, including a comprehensive redesign, a new feature enabling users to independently reset their passkeys, and immediate feedback provision in case of reset failure. To facilitate accurate record-keeping for personal and regulatory purposes, the product team introduced an updated interface for exporting account information and a new 'Financial Reports' option in the account dropdown menu. This new feature will generate regulatory-compliant reports, currently catering to the requirements in Spain, Bahrain, UAE, and Italy, with the promise of expanding it to other countries in the near future. Among other updates, the Binance exchange withdrawal procedure saw improvements in April with a revamped page featuring clearer visual workflows for user guidance. At the core of #BinanceBuild is the belief in user-focused development, hence the launch of the #BinanceBuild Spotlight - a weekly series dedicated to showing how Binance transforms user feedback into practical solutions. These improvements aren't just periodic updates, but indicators of Binance's commitment to creating a secure and user-friendly experience in the ever-evolving crypto landscape.            
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Binance Security Unveils Anti-Poisoning Algorithm to Safeguard Users’ Digital Assets

According to an official announcement: Binance’s security team, committed to protecting users from various threats, has developed a unique algorithm for detecting address poisoning, a rising crypto scam capitalizing on public blockchains' transparency. This inventive algorithm has successfully flagged over 15 million spoofed addresses on the Ethereum and BSC networks so far. Address poisoning, or address spoofing, is a scam perpetuated by injecting a small amount of crypto from an address that is eerily similar to a frequently used counterparty address. Scammers hope that unsuspecting victims will mistakenly copy the "poisoned" address, thus redirecting the funds to the scammer's wallets. As part of their layered protection strategy, Binance's security team developed an identification method to counter this scam, which has been instrumental in alerting users and averting potential losses. On top of this, Binance advises users to follow some basic principles of transfer hygiene and common-sense security measures. This includes double-checking the recipient’s entire address, utilizing name services like Ethereum Name Service (ENS), conducting test transactions, and being vigilant with copying and pasting. With the continuous adaptation of scammers towards exploiting the crypto sphere, these data-driven precautions and user-focused awareness practices have proven paramount in thwarting such attacks and ensuring the safety of the user's digital assets.
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