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 code 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) Check your Referral ID 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.

According to Foresight News, Standard Chartered Bank has altered its position on the spot Ethereum ETF, stating that it is unlikely that the U.S. Securities and Exchange Commission (SEC) will approve such funds in May. Geoffrey Kendrick, the head of foreign exchange and digital assets research at Standard Chartered Bank, indicated that they had previously anticipated the SEC would approve the Ethereum spot ETF on May 23. However, so far, there has been no constructive dialogue (or at least none made public) between the SEC and the ETF applicants, suggesting that the approval date of May 23 is improbable.

According to Foresight News, UniSat has reported instances of asset destruction since the launch of Runes a few days ago. Some of these incidents involve a series of complex operations across different platforms and services. In response to these issues, UniSat is bolstering its mechanisms for detecting wallet and market problems.

According to Foresight News, Bakkt, a digital asset company under Intercontinental Exchange (ICE), has announced a 1:25 reverse stock split. The decision, approved by the company's shareholders and board of directors, aims to comply with the listing rules of the New York Stock Exchange (NYSE). The split will take effect on April 29, 2024, and will apply to Class A and Class V common stocks.

According to Foresight News, Sam Altman and Alex Blania, key supporters of Worldcoin, have recently held discussions with Malaysian officials. The duo, with Blania being the CEO and co-founder of Worldcoin's main developer Tools of Humanity, are aiming to enhance their relationship with the government. They have also expressed their commitment to safeguarding user data and privacy. The move comes as part of their broader efforts to foster a positive relationship with authorities and ensure the security of their platform's users.

According to Foresight News, the U.S. Securities and Exchange Commission (SEC) is soliciting public opinion on a revised proposal for an Ethereum spot exchange-traded fund (ETF) by BlackRock. In the revised proposal, BlackRock discusses the creation and redemption process of the ETF, stating that 'the basket is issued or redeemed only in the amount of cash determined by the trustee on each day of regular trading on NASDAQ'. This differs from the original proposal submitted in November last year, which stated that the process would involve Ethereum.

BlackRock submitted an application for an Ethereum spot ETF in November 2023, naming it the iShares Ethereum Trust. In January of this year, the SEC postponed its decision on the proposal, and on April 19, NASDAQ made revisions to the proposal.

According to Foresight News, digital asset exchange, broker, and custodian Archax has announced its collaboration with the HBAR Foundation to offer tokenized shares of the BlackRock ICS US Treasury Money Market Fund (MMF). This move is based on the tokenized access to the abrdn MMF that Archax created on the Hedera and Ethereum blockchains last year.

The first tokenized stock trade of the BlackRock MMF was also completed on the Ownera FinP2P digital asset network, which was also tokenized on Hedera. This partnership between Archax and HBAR Foundation signifies a significant step in the digital asset exchange and brokerage industry, as it allows for the tokenization of traditional financial assets, thereby increasing accessibility and liquidity.

According to Foresight News, the value of Hedera (HBAR) has seen a significant increase, at one point exceeding 0.18 USDT and currently standing at 0.1612 USDT. This represents a rise of over 76% in the last 24 hours.

In related news, digital asset exchange, broker, and custodian Archax has announced a collaboration with the HBAR Foundation. This partnership will facilitate the tokenization of shares in the BlackRock ICS US Treasury Money Market Fund (MMF).

According to PANews, data from Farside Investors indicates significant changes in the flow of funds for various investment entities on April 23. Grayscale's GBTC saw a net outflow of $66.9 million, while Bitwise's BITB experienced an inflow of approximately $23.2 million. Ark 21Shares' ARKB also saw an inflow of about $33.3 million, and Franklin's EZBC had an inflow of $1.9 million. However, VanEck's HODL experienced an outflow of around $1.9 million.

In addition, Tree News reported an inflow of approximately $37.7 million into BlackRock's IBIT on the same day. Some ETF data has not yet been released. These figures reflect the dynamic nature of investment fund flows and the varying performance of different entities.

According to PANews, the trading volume data for Bitcoin spot ETFs on April 23rd has been released by HODL15Capital. The data shows that BlackRock's IBIT had a trading volume of $661 million. Grayscale's GBTC followed with a trading volume of $224 million. Fidelity's FBTC was not far behind with a trading volume of $233 million. ProShares' BITO had a trading volume of $170 million. ARKB and BITB had trading volumes of $61.53 million and $60.51 million respectively.

This data provides a snapshot of the trading activity in the Bitcoin spot ETF market. It shows the level of interest and activity in these financial products, which are designed to track the price of Bitcoin. These ETFs provide a way for investors to gain exposure to Bitcoin without having to buy and hold the cryptocurrency directly.

The trading volumes of these Bitcoin spot ETFs can be seen as a barometer of investor sentiment towards Bitcoin. High trading volumes can indicate strong investor interest and confidence in the future price of Bitcoin. Conversely, low trading volumes can suggest a lack of interest or confidence in the market. The data released by HODL15Capital provides valuable insights into the state of the Bitcoin spot ETF market.

According to CryptoPotato, Block Inc., the fintech company led by Jack Dorsey, has announced the completion of its advanced Bitcoin mining chip. This marks a significant milestone for the company's mining project. The three nanometre (3mn) Bitcoin mining chip is now undergoing its full design tapeout with a leading semiconductor foundry. The chip will utilize the most advanced semiconductor process currently available, aiming to deliver the performance required for mining operators of all types to survive and thrive in the fifth mining epoch and beyond.

The fifth mining epoch began last Friday after Bitcoin block 840,000, reducing Bitcoin’s fixed block subsidy from 6.25 BTC to 3.125 BTC per block. This decrease marks a significant cut to miner revenues, necessitating that miners acquire the most energy-efficient equipment to stay effective. Many public mining firms have noted that small-scale, at-home Bitcoin mining would become more competitive after the Bitcoin halving, if not outright impossible to do economically. In response to this trend, Dorsey announced his firm’s Bitcoin mining ambitions in early 2022, aiming to keep both Bitcoin’s hash rate and the distribution of mining hardware as decentralized as possible.

Block Inc. is continuing to incorporate feedback from the Bitcoin and mining industry into its chip design. Upon launch, the company will become the first Bitcoin mining hardware vendor with a solution of its kind. The company hopes this will help unlock mining system innovation and support the development of new mining system form factors and use cases. In addition to the mining chip, the company is also working on a full Bitcoin mining system of its own design and is still seeking design feedback on this system in areas related to reliability, maintenance, and software features.

In other efforts to aid Bitcoin development, Jack Dorsey and Block have financed legal protection for Bitcoin developers and pioneered Bitcoin-based tips over Twitter. Block also unveiled its Bitcoin hardware wallet 'Bitkey' last year, which provides multi-signature cold storage Bitcoin custody in a way that’s usable for crypto newcomers.

According to BlockBeats, on April 24, Grayscale has submitted a document to the U.S. Securities and Exchange Commission (SEC) to register a new Ethereum Exchange Traded Fund (ETF) - Grayscale Ethereum Mini Trust Fund (proposed code: ETH). The fund will be created by splitting and distributing assets from the Grayscale Ethereum Trust Fund (OTCQX: ETHE).

Grayscale's Chief Legal Officer, Craig Salm, stated that if approved by the regulatory authorities, the new Grayscale Ethereum Mini Trust Fund will be launched as a low-fee spot Ethereum ETF. Meanwhile, a portion of Ethereum from ETHE will be used to 'seed' the new fund, and ETHE shareholders will receive shares of the new ETF proportionally. This split is expected not to generate a taxable event for ETHE and its shareholders.

According to PANews, Tesla's recently released financial report for the first quarter of 2024 shows a significant shortfall in the company's total revenue. The electric vehicle giant reported a total income of $12.3 billion, which is significantly lower than the anticipated $21.4 billion. Furthermore, the company's free cash flow was in the negative, standing at -$2.5 billion.

In addition to its financial performance, the report also revealed that Tesla did not engage in any buying or selling of Bitcoin during the quarter. This marks the seventh consecutive quarter that the company has refrained from any Bitcoin transactions. Currently, Tesla holds approximately 9,720 Bitcoins.

The last time Tesla reduced its Bitcoin holdings was in the second quarter of 2022, when the company sold over 30,000 Bitcoins for $936 million, which accounted for about 75% of its total Bitcoin holdings at the time. Tesla initially purchased Bitcoin worth $1.5 billion in early 2021.

According to PANews, the IBIT fund, managed by BlackRock, reported a capital inflow of $38 million on April 23. This marks the 71st consecutive day of net capital inflow for the fund. In contrast, the Franklin EZBC fund saw a net inflow of $2 million, while the Grayscale GBTC fund experienced a net outflow of $67 million. The data was monitored and reported by HODL15Capital. The continuous inflow of capital into the IBIT fund indicates a sustained interest from investors, despite the contrasting performance of other funds.

According to PANews, the U.S. Securities and Exchange Commission (SEC) has announced that it will postpone its decision on the Grayscale Ethereum Spot ETF until June 23, 2024. This information was revealed in a document submitted by the SEC on Tuesday. Grayscale, in collaboration with NYSE Arca, had submitted a 19b-4 form in October last year to convert the Grayscale Ethereum Trust into an Ethereum Spot ETF.

Prior to this, the SEC had also delayed its decision on the Franklin Ethereum Spot ETF until June 11, 2024. The SEC's decision to postpone the verdict on these ETFs indicates a cautious approach towards the regulation of cryptocurrency-based financial products. The delay provides the SEC with additional time to assess the potential risks and benefits associated with these products before making a final decision.

According to CryptoPotato, Polkadot has introduced the Join-Accumulate Machine (JAM) protocol, which combines features of Polkadot and Ethereum to enhance blockchain efficiency and scalability. The protocol's implementation is subject to community approval. Additionally, Polkadot is in discussions about a potential $8.8 million sponsorship deal with Inter Miami CF.

The JAM protocol provides a global singleton permissionless object environment, similar to the smart-contract environment pioneered by Ethereum, paired with secure sideband computation parallelized over a scalable node network, a proposition pioneered by Polkadot. The protocol will also support existing parachains, allowing developers to continue using Substrate for blockchain deployment. The protocol will only interact with DOT; no new token will be issued. The community must approve JAM via Polkadot’s on-chain, decentralized governance.

Several top Polkadot parachains have also seen significant developments. The Acala Network recently announced the Sinai Upgrade, designed to enhance the platform’s position as a liquidity layer in the Web3 space. The upgrade includes a liquidity track, infrastructure track, and aSEED track. Following Polkadot’s runtime upgrade, all parachains stopped producing blocks for approximately one hour. However, the Moonbeam Network, one of the leading parachains, resumed block production and returned to normal operations on April 21.

In other news, Nico Zini, Partnership Marketing and Media Rights for Inter Miami CF, revealed that the American football team might enter into an $8.8 million sponsorship deal with Polkadot. The club’s co-owner is English football icon David Beckham, and its biggest star is Argentine legend Lionel Messi. This is not Polkadot’s first attempt to enter the sports world. In 2022, it sought to become FC Barcelona’s official jersey sponsor, but the Catalan club chose Spotify over the blockchain protocol.

According to Bloomberg, the digital payments company has announced the development of a three-nanometer chip that could significantly impact the rapidly expanding mining industry. This chip is a crucial element in the creation of some of the most sophisticated computers. It powers specialized computers used for Bitcoin mining and has been a barrier for new entrants due to the lengthy development process and substantial overhead costs.

Only a few chip manufacturers in Asia have reaped substantial profits amidst the cryptocurrency boom. Beijing-based Bitmain has been leading the market, generating billions of dollars. The San Francisco-based company has described this development as a significant milestone in their Bitcoin mining project. The company is reportedly finalizing a full tapeout of the design with a leading global semiconductor foundry.

Bitcoin mining is a process that requires a lot of energy. Miners use machines, or rigs, to validate transaction data on the blockchain and earn a reward in the form of the token. Miners are currently dealing with a heavy workload. The company stated that their mining chip would utilize the most advanced semiconductor process available. It will deliver the performance necessary for mining operators of all types to survive and thrive in the fifth mining epoch (the period following the recent 4th halving of the block subsidy) and beyond.

According to Cointelegraph: Crypto enthusiasts are noting an upswing in the price of Solana (SOL) today. The hike, which sees a 4% increase in the last 24 hours, appears underpinned by both technical factors and robust on-chain metrics hinting at a bullish future for SOL.

SOL/USD daily chart. Source: TradingView

Resting at $159, SOL enjoys a 32.6% leap from its week-ago low around $120. Over the past six months, the smart contract token boasts a hearty 88% growth, while year-to-date gains stand at 56%. With a $70.6 billion market cap, SOL ranks as the fifth largest crypto by market value.

Number of daily transactions on layer 1 and layer 2 networks. Source: Artemis

The Key: Superior Network Performance

The Solana network holds its own in the heavily competitive Layer 1 sector. Data from on-chain metrics platform Artemis reveals that Solana handles over 30% of daily transactions across all primary Layer 1 and Layer 2 networks. As a result, Solana outperforms other top Layer 1 protocols concerning transaction fees. The Block Pro declares, "Solana's total transaction fees have soared by approximately 417%."

Monthly change in transaction fees. Source: The Block Pro

Another noteworthy performance gauge is the total value locked (TVL) in the network's smart contracts. DefiLlama data shows a TVL rise from $3.36 billion on April 18 to $4.02 billion on April 23 – a 19% growth. This increase intertwines with SOL's price hike of over 15% during the same period.

The April 23 Solana price rally continues a recovery trend initiated post SOL finding support at the $130 demand level from April 17. SOL is currently regaining a crucial support level marked by the 50-day exponential moving average (EMA) at $156.42.

Total value locked on Solana. Source: DefiLlama

Daily candlestick closure above this level indicates the bulls' capacity to maintain the upsurge. The MACD’s cross seen on April 23 signals a potential buy, suggesting SOL may be undervalued, primed for a rebound. If so, SOL/USD could eye a 28% recovery toward the $202 v-shaped recovery pattern neckline soon.

BTC/USD daily chart. Source: TradingView

On the flip side, falling below the 50-day EMA increases the correction risks toward its 100-day EMA support at $139 or the base of its governing chart pattern at $125.

On Apr 23, 2024, 18:38 PM (UTC). According to Binance Market Data, BNB has dropped below 610 USDT and is now trading at 609.599976 USDT, with a narrowed 2.16% increase in 24 hours.

According to Blockworks, a recent investigation by Asymmetric Research uncovered a critical vulnerability in the inter-blockchain communication (IBC) protocol. This standard facilitates interaction among individual cosmos chains. The vulnerability was specifically found in ibc-go, the Golang high-level programming language implementation of the IBC protocol, and it affected CosmWasm-based IBC middleware. The middleware, similar to many bridging protocols, allows packets to be sent from one blockchain to another. These packets are stored as commitments before being properly received and deleted. If not received, tokens are refunded through a timeout functionality.

Asymmetric Research discovered that the flow between the module deleting the commitment control could be replayed. This meant it was possible to exploit the bug and generate an infinite number of IBC tokens. Multiple chains were vulnerable to this issue, including Osmosis, one of the largest cross-chain DEXs in the Cosmos ecosystem. However, the potential damage was limited due to rate limiting on the chain.

The vulnerability has been privately disclosed to the Cosmos HackerOne bug bounty program and has been resolved without any malicious exploitation. Asymmetric Research emphasized the ease with which trust assumptions can be broken and new vulnerabilities introduced by adding new features and functionality. They also highlighted the importance of defense-in-depth and commended the Cosmos teams for their strong security measures that could have saved them from existential risks. A binary patch was released to fix the underlying IBC timeout reentrancy without breaking consensus. Contributors spent much time and effort assessing the security implications of the mentioned issues.