Main TakeawaysImpersonators often use WhatsApp and other messaging platforms for phishing scams, trying to deceive users into sharing personal details. Binance will never reach out to users on WhatsApp with investment advice, discussion of crypto purchases, or requests for funds.Be careful of suspicious groups on WhatsApp — stay vigilant and always refer to Binance's official communication channels.Report suspicious groups using our dedicated link.Your safety and account security is of the utmost importance to us. We have been made aware of incidents where individuals impersonate Binance leadership and staff on WhatsApp groups to deceive users into sharing sensitive information. You should be informed and prepared to protect yourself from these malicious attempts.Please note: Binance will never contact users via WhatsApp, offer investment advice, or ask you to invest in any project or token.What to Do If You’ve Been Added to a Suspicious WhatsApp GroupDo Not Engage. Refrain from communicating with anyone in the group, including the administrators.Take a Screenshot. The image should include the following details:The name of the WhatsApp group.The phone numbers of the group administrators only (Important: Do not share the personal data of non-admin members).Report the group to Binance Security. Upload your screenshot and report the suspicious group via the dedicated form. Your submission will be escalated to our security team for prompt action. Example screenshot below.What’s the Danger?One word: phishing.Phishing scams involve fraudsters trying to trick victims into sending funds or providing confidential information via emails, messages, or websites that closely resemble legitimate platforms or services. Individuals pretending to be Binance representatives will use platforms like WhatsApp to:Impersonate: Scammers create fake profiles that resemble those of Binance representatives/staff.Create Urgency: They might claim there is an urgent issue with your Binance account.Request Sensitive Information: They’ll ask for login credentials and two-factor authentication codes, or even request you to transfer funds to them.Build Trust: Criminals may use information that seems credible, often pulled from public sources.[REPORT GROUP TO BINANCE SECURITY]How Binance Contacts UsersBinance only contacts users via the following channels: Binance Customer Support, available 24/7 through our customer service portal.Our official X account. Telegram. Make sure to always verify contacts using the Binance Verify tool, which allows you to check a website, email address, Telegram ID, or other communication channels to validate their legitimacy.Email. Again, always use the Binance Verify tool to ensure the sender's address is official.Tips to Protect Yourself from WhatsApp ScamsAlways protect yourself by following these tips:Never Share Sensitive Information: Do not share your account details or personal information with unofficial or non-verified sources.Update Your WhatsApp Privacy Settings: Adjust your settings so only specific contacts can add you to groups. Go to WhatsApp Settings > Privacy > Groups, then choose 'My Contacts Except...' or 'My Contacts' to limit who can add you to groups.Use Binance Verify: If in doubt, always verify the legitimacy of anyone claiming to represent Binance. You can verify email addresses, phone numbers, WeChat IDs, Twitter accounts, or Telegram IDs via the Binance Verify tool.Contact Binance Support 24/7: If you have any concerns or doubts, reach out to our official Binance Support team for assistance.Staying Vigilant and Informed Is Your Weapon Against ScamsBy understanding how phishing scams typically work, you’re better equipped to recognize the signs and protect yourself. Remember, Binance will never contact you via WhatsApp with investment advice or requests for funds. Stay vigilant, and always rely on official communication channels.Stay safe and always verify before engaging.Further ReadingProtect Your Crypto: Understanding the Ongoing Global Malware Attacks and What We Are Doing to Stop ThemHow to Avoid and Report Fake Service ScamsUnderstanding the Risks of Off-Exchange P2P Trading

Main TakeawaysWilson, our Risk AI team leader, breaks down the scope of his highly technical role and explains how to apply AI technology to risk management in cryptocurrency. Wilson shares the challenges and milestones of the Risk AI team at Binance since he joined the team in 2020. Having moved to Dubai, Wilson is grateful for the adventurous journey and growth opportunities at Binance. Wilson has been working with artificial intelligence (AI) even before AI was cool. As the leader of the AI arm of our Risk team, Wilson’s day-to-day job involves developing AI-based models that tackle different scenarios of user fraud risks. In an era where the words “AI” and “Web3” have been thrown casually as trendy buzzwords by hordes of startup founders attempting to secure VC checks, Wilson has been quietly and methodically spearheading the integration of these two technologies at Binance.Read Wilson’s story to find out how he works at the frontline safeguarding Binance’s ecosystem from potential risks. Once a Scientist, Always a ScientistHaving completed a PhD in engineering, Wilson has always been curious, rigorous, and methodical about his work in machine learning. He started his career working for various technology startups. One of them required  him to work with federated learning and multi-party computation, advanced techniques that enable collaborative data analysis and machine learning across multiple parties. He also had the opportunity to work with risk management-related models at a financial technology company. All these experiences prepared him with the foundation of his current work in AI and risk management. In the middle of 2020, an ex-colleague referred him to a job opening at Binance that required expertise with machine learning and risk models. Even though Wilson had never worked in the cryptocurrency industry before, he knew he could easily translate his technical skills and experience to improve risk management at Binance platform. He applied, got the job, and began to connect the dots between the fields of AI, risk management, and cryptocurrency to carve his niche at the company. He has been steady-sailing ever since. “I am just your average computer geek,” says Wilson humbly. “I enjoy solving problems, solving puzzles, working with logic, coding with data, and so on. These are all my interests and skill set. However, what makes me a great fit at Binance is truly my passion for cryptocurrency.” As a scientist at heart, Wilson enjoys the opportunity to be able to follow a scientific method of inquiry in testing and developing his risk models for Binance. Granted, all the research greenlighted at Binance has to have practical business applications, but he appreciates the fact that he is given the freedom to continuously keep up with the latest developments in AI to build systems and tools that are innovative, resilient and up to date.Understanding the Risk AI Team at BinanceIn a nutshell, the risk team at Binance is responsible for detecting any risk that can affect our 220 million, and growing, user base. The risk team focuses on user experience and user journey, and singles out suspicious user behaviors that may indicate scam activities, account takeovers, fake Know-Your-Customers (KYC) submissions, and so on. The risk team is not to be confused with our compliance department that focuses more on sanctions, Anti-Money laundering (AML) and other compliance matters, or the security team that monitors against internal and external cybersecurity threats, even though the domains of these three teams may often overlap. “We build systems to manage the risk before the threat becomes a real incident,” explains Wilson. “And within this department, we have a specialized Risk AI team, which means we are leveraging AI technology when building a risk management system.”Wilson has loved robotics since he was young. Note: This image has been generated with AI based on Wilson’s likeness for illustration purposes. Among hundreds of millions of good-faith users on the Binance platform, there are a few that threaten to illicitly take over other users’ assets. Wilson’s job is to build AI models to flag these attackers, devising complicated decision trees and deep learning models to detect suspicious activity. Once deployed, the AI would be able to monitor the course of a user journey, and in the event of any anomaly, trigger an alert and flag to the system to block the suspicious operators. One good example of the AI model in action is in the Binance P2P chat scenario. The model uses natural language processing to figure out if a P2P trader exhibits signs of fraudulent behavior, and if so, the model will alert the P2P counterparty on the platform. If there is a high confidence of fraud risk, the system will automatically reject the P2P order and block the fraudster. The risk AI team handles different types of attacks and suspicious activity daily with AI models. They handle up to a whooping several millions of fraudulent onboarding cases, and up to several thousands of P2P scammer cases monthly. The team takes turns to monitor the model stability 24/7 and address any issue quickly. So far the team has deployed over a hundred models, which continue to be optimized to improve accuracy, reduce incorrect detections, and increase detection coverage. “The challenge with our team is that attackers constantly get smarter, innovate, and change their attack forms, so we must adapt to the new attacks and improve our systems, too. While AI technology also continuously evolves at a rapid pace, we have to keep learning new technology and tools to stay ahead of the game. But this is what makes this job exciting,” Wilson says with passion. “We retrain and redeploy our models continuously. We build dashboards to monitor different metrics, and dashboards for false positives, too. Risk models are based on probability theory, and it is impossible to avoid false positives entirely.” “Another challenge is to be able to keep cool and grounded in the face of social media attacks. Any large company, including Binance, is very prone to all sorts of attacks on social media. When I see posts on social media criticizing our risk controls — with people saying their withdrawals were unfairly blocked or their rewards were unjustly revoked — I feel very stressed. While some of these complaints might be ungrounded, there’s always a chance our system had mistakenly flagged a legitimate user. When this happens, I make it a priority to investigate and quickly determine if it is an inaccuracy, and if so, take corrective actions accordingly. If the complaints are not true, we engage with the PR team to clarify the matter.” A new era for the Risk team began in 2022, when the team finally overcame some previous challenges, including disconnected defense systems and lack of clear processes, by bringing in new key talents and shifting to a proactive approach. This led to the creation of a comprehensive defense system and a solid process for deploying and reviewing risk models, significantly reducing errors and enhancing security. Amid this massive shift, Wilson became responsible for managing a larger group of highly talented colleagues, and this challenged him to refine his leadership and management skills. Home is the Oceans and the StarsAlso in 2022, Wilson relocated to Dubai, and since then he has been fascinated by Arabic culture and history. Dubai is slowly but surely growing on him.“I am actually very excited to be in Dubai right now. Dubai is a major innovative hub for the cryptocurrency industry, so if you want to stay in the thick of networking and innovation, you have to be in Dubai.” Some of his team members are also now based in Dubai, and even though the majority of them are working remotely, they have regular gatherings that improve bonding and camaraderie. In his free time, Wilson is more of a homebody who enjoys playing video games and solving puzzles, though he will not say no to outdoor activities like hiking and exploring. His journey with Binance has pushed his professional and personal boundaries in so many ways and led him to move across the world to a foreign land. This journey is just beginning. He is excited for what comes next. “For me, home is the oceans and the stars, because they represent endless possibilities and the freedom to explore," Wilson concludes.If you are interested in joining Binance and make an impact in shaping our financial future, apply here. Further ReadingBurcu: Binance’s Reliable Problem SolverIvan Paskar: Binance’s Staunch Believer in HumanityLATAM’s Longest-Serving Angel: Life as a Binance Angel

Main TakeawaysAvailability bias and illusory truth effect are two cognitive mechanisms that contribute to the formation and reinforcement of misconceptions by making readily available and frequently repeated information seem more believable.Myths persist because these biases make it harder to question beliefs. In reality, the Great Wall of China is not visible from space, and knuckle cracking doesn’t result in arthritis.Some deep-rooted misconceptions about cryptocurrency driven by these biases make it easy to overlook its real benefits.Have you ever believed something because you heard it so many times, even if it wasn’t true? In the second installment of our blog series focused on understanding the science behind crypto misconceptions, we explore why certain myths about cryptocurrency persist and how they can be debunked and avoided with a better understanding of some basic psychology of belief formation.This series examines how certain biases ingrained in the way we think about the world can play a crucial role in shaping our views of complex topics like crypto. Today, we dive into two powerful cognitive biases that often work together to influence public perceptions: availability bias and the illusory truth effect. Whether it’s dramatic headlines about market crashes or repeated myths about crypto scams, these biases make it harder to see the truth.Availability and Illusory Truth: The Ultimate DuoAvailability bias is at play when people make decisions based on the first piece of information that comes to mind. This usually means relying on what is recent or most easily remembered. For example, if there's a lot of dramatic news in one’s feed about a cryptocurrency dropping in value, investors might overreact and make hasty decisions like pulling out their investments. This knee-jerk reaction, driven by recent and vivid information, can lead to poor investment choices and missed financial opportunities. Thus, it's important for new investors to be aware of how availability bias can cloud their judgment and to take a step back to assess the full picture before acting.The illusory truth effect occurs when something starts to feel true simply because you’ve heard it repeatedly – even if it's actually false. Hearing or seeing something over and over again makes it seem more believable because it becomes easier to process and thus remember.The illusory truth effect can be especially dangerous online. Overly exaggerated news headlines get repeated more than accurate ones because they’re more eye-catching. This results in inaccurate information appearing more credible, leading to people believing and sharing misinformation – such as, for example, false claims about miracle weight loss supplements, which might lead to wasted money and potential health risks.The Great Wall of China and Knuckle CrackingWhen combined, availability bias and the illusory truth effect can reinforce common misconceptions even more powerfully. A false claim that gets a lot of attention (availability bias) can be repeated often (illusory truth effect), making people believe it's true. This can result in the persistence of myths or incorrect information – making it harder for people to critically evaluate the facts and challenge falsehoods.For example, the belief that the Great Wall of China is visible from space is a misconception fueled by its frequent portrayal in the media. In truth, although the wall is long, its narrowness and blending with natural surroundings make it difficult to see from space without aid. NASA astronauts have confirmed that from low Earth orbit, the wall is not visible to the naked eye.Similarly, the belief that cracking your knuckles causes arthritis persists despite scientific studies showing no significant link. Research has consistently found that habitual knuckle cracking doesn't increase the risk of arthritis, yet the myth endures due to its frequent repetition. This misconception likely persists because of anecdotal reports and well-meaning but inaccurate warnings, making the false claim seem more believable.In the same way, the combination of availability bias and the illusory truth effect plays a crucial role in shaping misconceptions about cryptocurrency. As crypto becomes more mainstream, many early false beliefs persist due to repeated misinformation and sensational media coverage skewing public perception. These widespread myths not only hinder understanding but also slow progress in the digital-asset space. Only with a closer look can the truth be unraveled.Isn't Cryptocurrency Just a Playground for Scammers?In the realm of cryptocurrency, availability bias and the illusory truth effect can significantly distort perceptions. One prevalent myth, especially among those who are familiar with digital assets only superficially, is that the cryptocurrency space is little more than a haven for scammers. This belief is influenced by the high-profile nature of crypto scams that attract media attention and make sensational headlines. Because these negative stories are often more vivid and recent, they overshadow the broader reality. It’s also likely that negative headlines are more common because cryptocurrency is inherently more transparent and traceable. Every transaction is recorded on the blockchain, which can make it easier to expose illicit activities compared to traditional financial systems. Similar to the "Florida Man syndrome," where isolated incidents become highly publicized, this transparency may lead to certain events getting disproportionate attention, giving a skewed perception that crypto is predominantly used for scams. In reality, while scams exist, the overall ecosystem is much more diverse and secure than these headlines imply.Contrary to popular belief, research shows that only 0.24% of cryptocurrency transactions were linked to illicit activity in 2023. In comparison, the estimated amount of money laundered globally in one year is between 2-5% of global GDP, or $800 billion to $2 trillion in current US dollars. This stark contrast highlights that while scams in cryptocurrency do exist, they constitute only a small fraction of the overall illicit activity – especially when compared to the scale of money laundering in traditional finance.Think Crypto is Useless? The idea that "cryptocurrency has no real-world use" is another misconception likely fueled by the illusory truth effect, where repeated negative narratives obscure its genuine applications. In reality, cryptocurrency has multiple impactful use cases, particularly in emerging markets. A prime example is remittances, which have become increasingly efficient and cost-effective through cryptocurrency.Traditional remittance methods, like wire transfers, are loaded with fees. Senders often face high costs, including service charges and unfavorable exchange rates. In Q1 2024, the World Bank reported that sending $200 internationally cost an average of 6.35%, with even steeper fees in some regions. These charges can add up, making traditional remittances especially burdensome for low-income individuals. On the other hand, cryptocurrency remittances tend to have lower transaction fees because they bypass intermediaries like banks and money transfer services. Instead, users only pay network fees, which are variable but generally more competitive.Furthermore, numerous reports highlight how more individuals and small businesses are turning to digital assets for international payments due to the speed and affordability of this method. While only one of the many real-life use cases that crypto has, the payments example demonstrates that crypto plays a valuable role in improving global financial inclusion.Final ThoughtsRecognizing cognitive shortcuts like availability bias and the illusory truth effect is crucial for making informed decisions — both in everyday life and in specialized fields like cryptocurrency. These biases can create misconceptions by making recent or repeated information feel more accurate than it really is. In the case of cryptocurrency, these biases contribute to myths that can mislead investors and the public. To effectively navigate these misconceptions and make informed decisions, it’s essential to seek out comprehensive and factual information.This is where resources like Binance Academy become invaluable. As our open-access learning hub, Binance Academy offers a wealth of information on various crypto topics, providing free blockchain education to help counteract these biases. If you found this piece intriguing, stay tuned for more entries in our Science Behind Crypto Misconceptions series!Further ReadingScience Behind Crypto Misconceptions: The Anchoring EffectProtect Your Crypto: Understanding the Ongoing Global Malware Attacks and What We Are Doing to Stop ThemHow to Avoid and Report Fake Service Scams

Main Takeaways This article is the first in our new series, Top Lead Trader Tips, featuring exclusive interviews with top traders on the Binance Copy Trading platform.  Today, we sit down with Xut_Shawte, a lead trader since May 2024, with an impressive half a million USDT in Assets Under Management (AUM) and over 500 users copying him on Binance. Discover his trading philosophy, tips, and insights that make him a star trader on our platform. Binance Copy Trading is designed to make crypto trading more accessible and social, allowing users to copy the moves of top-performing traders. It’s an ideal solution for both beginners and those looking to follow seasoned traders without needing to spend hours analyzing market trends or executing complex strategies. The social aspect of Copy Trading is where the magic happens — users can follow traders from all over the world, from different backgrounds and levels of expertise, while learning and growing within a vibrant community.At Binance, we believe in the power of community and knowledge sharing, which is why we’re thrilled to introduce our new Top Lead Trader Tips series! This series aims to bring exclusive insights from the best performers on our Copy Trading program, allowing our community to learn from these traders' journeys, methodologies, and perspectives. In the following weeks, we’ll introduce you to new Lead Traders, dive into their stories, and provide a behind-the-scenes look at the strategies that have earned them success on the platform.Today, we’re kicking off the series with an interview with Xut_Shawte, one of our standout Lead Traders.In the Spotlight: Xut_ShawteXut_Shawte has been a Lead Trader with Binance since May 2024, specializing primarily in short strategies. With his extensive expertise and experience in crypto markets, he has earned the prestigious Cadet Badge. He now manages almost half a million USDT in AUM, with over 500 copiers, reflecting his consistent and strategic approach to the market.Binance Futures: Can you share a bit about your background and how you got started in crypto trading?Xut_Shawte: I started my trading journey in 2019 with platforms like eToro and Naga, where I got my kicks with the "mass suicide dive competition" of 50x leveraged positions on raw materials derivatives. I was later captured by the crypto world and enjoyed holding, till I realized real joy comes from fish netting fluctuations, instead of watching the waves come and go. I have no formal economic or trading background, but I do hold a PhD in chemistry: market emotions don't escape laws of thermodynamics.Binance Futures: What inspired you to become a Lead Trader on our platform, and what has your experience been like so far?Xut_Shawte: I became a Lead Trader to expand the options in futures trading and bring more discipline to my approach. I was pleasantly surprised by the safe environment and increased restrictions compared to the personal account (e.g., limited x5 leverage and limited selection of coins). This lowers the risks for everyone and creates a growth environment.Binance Futures: Could you walk us through one of your most successful trades? What was your strategy and what made it successful?Xut_Shawte: As a shorter, the key is holding your marbles. Sometimes it means sticking to the strategy even when the world crumbles down. Recently, a rare coin (not available for copy) surged 600%, putting significant pressure on my balance while I was shorting with 7x leverage. I knew it was a unicorn and I had enough free margin to ride it. I reduced the drawdown from 15% to 5% by patiently skimming highs and lows, and in the end, all I lost was only funding fees! And there you have it, the most successful trade I have is the one that caused me losses, but it stayed controlled and preserved my 6-month, 3x winning streak. Long story short, keep your margin ratio below 1% on regular days, and on bad days you'll be grateful it just reaches 5%.Binance Futures: How do you approach risk management, including handling underperforming assets? Xut_Shawte: The mantra is to minimize your margin ratio, meaning invest what’s necessary with the least leverage possible. Greed and speed lead you to the crypto grave. Shorting becomes risky when bulls hit. That's why it is important to do the math and choose the most likely outcome with cold blood. Underperforming assets are part of the game. An effective hedging strategy will make you happy to leave behind dead branches. Binance Futures: How do you leverage the tools and features of our platform to optimize your trading performance?Xut_Shawte: I always advocate for allocating a good slice of investment in low-leveraged bots (5x) with wide price bracketing, expecting big volatility storms: they'll never lose money in the long run, and they can serve as a buffer that provides liquidity for turbulent manual trading periods. Closing ThoughtsWe are grateful to Xut_Shawte for sharing his insights, and we wish him all the best in his continuing journey as a lead trader on our platform. If you are interested in finding out more, click here to explore Xut_Shawte’s portfolio.If you're confident in your abilities and interested in becoming a Lead Trader to scale up your trading, sign up on Binance Futures Copy Trading now!Further ReadingStrategies to Minimize Liquidation Risks in Margin TradingMock Spot Copy Trading: Master Trading by Copying Experts with No Financial RiskWhat is Binance Margin Trading?Disclaimer: 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. 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. Trading by following and/or copying or replicating the trades of other traders involves a high level of risks, even when following and/or copying or replicating the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Past performance is not a reliable indicator of their future performance. No relationship between top-performing traders & Binance. In no way is performance or results guaranteed. Content on our platform does not contain advice or recommendations. This material should not be construed as financial advice, nor as a recommendation to follow any particular trader or strategy. To learn more about how to protect yourself, visit our Responsible Trading page. Copy trading is restricted in certain countries and to certain users. This content is not intended for users/countries to which restrictions apply. For more information, see our Terms of Use and Risk Warning.

Explore insights from Binance CEO Richard Teng’s first Fireside Chat on Binance Square’s Audio Live, covering market volatility, regulation, and the future of crypto.Main TakeawaysBinance’s CEO, Richard Teng, took to Binance Square on August 29, 2024, for a fireside chat using its Audio Live feature to share key updates and insights.This highlights blog covers Richard’s thoughts on market volatility, regulatory milestones, and the future of mainstream crypto adoption.Binance Square is a dynamic platform for the crypto community, featuring new tools like Audio Live, and a growing user base of over 30 million monthly active users.The recap below highlights Binance CEO Richard Teng’s key answers to questions he received during his first Fireside Chat using the Audio Live feature on Binance Square — our dedicated social platform for crypto enthusiasts. Binance Square’s Audio Live is a new feature designed for real-time, interactive conversations. With support for up to 10 speakers at the same time, as well as the ability to record sessions, Audio Live offers a dynamic platform where the crypto community can connect, share ideas, and engage in meaningful discussions. During the session, Richard discussed the latest updates, trends, and developments in the crypto industry. Read on for more! Please note that the transcript below has been edited for length and clarity. Richard’s Audio Live session can be heard in full here.1 / Regulatory Milestones: India’s ImportanceThe recent regulatory approval in India marks Binance’s 19th globally. Can you explain the significance of this milestone for Binance and the crypto industry?Richard Teng: “We are very proud to have successfully secured our 19th global regulatory approval in India. This registration recognizes and underscores Binance’s commitment to working with global regulators in terms of supporting crypto adoption throughout the world. India is a vibrant market, ranking among the top five globally in terms of estimated transaction volume across both centralized and decentralized exchanges. Securing this approval highlights our utmost dedication to providing the most reliable platform for our users all around the world, and underscores the importance of collaborating with the local community, and policymakers to foster the development of a Web3 ecosystem in India.”2 / Navigating Crypto Market VolatilityGiven the inherent volatility of crypto markets, what advice would you give to users on maintaining confidence and staying calm during turbulent times?Richard Teng: “It’s important to maintain a broader perspective. Volatility is not just restricted to crypto markets. All asset classes experience fluctuations at some point. For those new to crypto, these sharp changes may feel unsettling. However, it’s important to remember that markets go through cycles, and the cyclical nature of markets, including crypto, is natural. Markets mature and capitalization increases. We remain bullish on long-term crypto and optimistic about the future of digital assets. We are committed to building a sustainable ecosystem and a platform to serve our users.” 3 / The Future of Mainstream Crypto AdoptionLooking ahead, what key developments or changes do you believe are necessary for the industry to achieve mainstream crypto adoption?Richard Teng: “There are a few factors. Regulatory clarity and harmonization is extremely important. About one-third of global regulators are starting to regulate crypto, but with varying approaches. These inconsistencies create challenges for global platforms like ours. We need a unified regulatory framework, similar to in banking and securities, to simplify global deployment and ensure consistency in user protections.“Institutional adoption is another crucial factor. It brings forth new users and liquidity to the market. Unlike ETFs, which only trade during limited hours, our platform provides 24/7 access to trading, offering flexibility in managing risk and taking positions. However to achieve mainstream adoption we must continue to increase education and awareness of crypto globally across all stakeholders. This includes our users, where we heavily invest through initiatives such as Binance Academy.”4 / Growing Operations, Binance Build, and MoreWith the crypto industry evolving rapidly, how does Binance stay ahead of the curve and adapt its products to meet the changing needs of users?Richard Teng: “At Binance, our core mentality is to continually build and improve by listening through user feedback. For instance, this year alone, up until mid-August, we’ve received nearly 32,000 suggestions from our users. We carefully review this feedback, to understand what our users want and proactively implement those enhancements. Smaller changes can be rolled out quickly, while more substantial updates are developed and released as they’re ready. “Additionally, our robust hiring strategy demonstrates our growth and bullish position in the crypto industry. Binance has hired over 1,000 new staff this year, with 500 more roles currently available across various departments, including frontline roles, product development, tech operations, compliance, risk management, legal, and customer support. This balanced approach to hiring, such as 10% in senior roles, 50% in mid-level, and 40% in early career positions, ensures that we have the talent needed to support sustainable growth for the entire industry, and for Binance.”5 / Binance Square’s New Era: Audio Live, and MoreWith the introduction of new features like video content and live audio events on Binance Square, what are your thoughts on the platform’s overall user experience and usability?Richard Teng: “I hope you’re all enjoying Binance Square as much as I do. The new features, like video content and live audio, have truly transformed the platform into a more dynamic and interactive space, allowing for richer, more immersive real-time interactions. At Binance, we always look out for new ways to push the envelope in terms of innovation in the crypto space. Binance Square has gained significant traction with over 30 million monthly active users. “We envision Binance Square as the ‘town hall’ for all crypto discussions. We want to create a place where users come together, learn and engage with one another, and share ideas. We’re proud to offer features that allow content creators to earn by writing and creating on our platform, promoting high-quality content and helping foster a vibrant community. Ultimately, Binance Square is built for our community, and we’re committed to continuously improving and enhancing the space to make it even better.”Listen to the Audio Live on Binance SquareDid you miss the session with Binance CEO Richard Teng? Don’t worry! You can click here to listen to the Binance Square event in full and discover other valuable insights.Since its launch in October 2022, Binance Square has rapidly grown into a leading social platform for crypto enthusiasts, boasting over 30 million monthly active users and 800,000 content creators. Available in 26 languages, it provides a diverse range of content and facilitates global discussions on the latest trends in Web3.To stay updated on future Binance Square events, follow the official Binance Square page and Richard Teng’s account. You’ll never miss an announcement, and will also be able to submit questions in advance of the next Fireside Chat or Live Q&A.Further ReadingListen to Richard Teng’s Audio Live session in fullFrom Our CEO: Be The Tide That Lifts All BoatsHighlights From Richard Teng’s AMA on Binance’s 7-Year AnniversaryRisk Disclaimer: Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated 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. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. Binance is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning.

Main Takeaways:Binance Labs has invested in Hemi Labs, the creator of Hemi, a pioneering Layer-2 blockchain network that integrates Bitcoin and Ethereum for enhanced security and programmability.This investment underscores Binance Labs' commitment to supporting projects leveraging next generation decentralized technologies to push the boundaries of blockchain innovation.Binance Labs has invested in Hemi Labs, the creator of the Hemi Network (“Hemi”). Hemi is a modular blockchain network designed for superior scaling, security, and interoperability, unifying Bitcoin and Ethereum as components of a novel supernetwork.Hemi is focused on advancing the technical, economic, and social layers that reside between the industry’s two largest and most utilized protocols. By combining Bitcoin’s robust security and capital base with Ethereum’s flexibility and programmability, Hemi is addressing an underserved intersection of Web3, opening new avenues for builders and investors.The new capital will accelerate Hemi's growth by advancing decentralized applications (hApps), improving Bitcoin interoperability with the Hemi Virtual Machine (hVM), and refining secure asset transfers between Bitcoin and Ethereum. It will also scale Hemi's decentralized sequencers and Proof-of-Proof (PoP) consensus for faster, more secure blockchain settlements.The company is set to release major updates within the next 12 months, including new use cases for their trustless cross-chain tunneling system, secure data anchoring for AI, and decentralized finance (DeFi) applications, all powered by Bitcoin and Ethereum.“We look forward to supporting Hemi Labs as they work on important infrastructure that connects Bitcoin and Ethereum in a modular and scalable way. Hemi's approach aligns with our commitment to backing strong founders of projects that are focused on building practical, decentralized solutions with long-term potential," said Alex Odagiu, Investment Director at Binance Labs.“We are thrilled to have Binance Labs as a key partner in our mission to reshape blockchain infrastructure. Binance Labs' investment and global network will be instrumental in accelerating our growth and helping us deliver on our vision to create a more unified and efficient blockchain ecosystem,” said Jeff Garzik, CEO of Hemi Labs.###About Binance LabsBinance Labs is the leading venture capital and incubator committed to empowering early-stage projects and driving the growth and development of the Web3 ecosystem. Since our founding in 2018, we have consistently focused on the long-term, and provided strategic support and funding to projects, regardless of market cycles.As a chain- and sector-agnostic venture capital leader in the Web3 space, we back everything from infrastructure to application layers, and our focus has consistently been on tech innovation with meaningful product-market fit and sustainable revenue models.Binance Labs’ portfolio covers over 250 projects from over 25 countries across six continents. More than 65 of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X. About HemiThe Hemi Network (“Hemi”) is a modular blockchain powered by Bitcoin and Ethereum that provides superior scaling, security, and interoperability. Hemi views Bitcoin and Ethereum as components of a broader supernetwork, unlocking new levels of programmability, portability, and potential. Hemi Labs is a leading developer of Web3 infrastructure and tooling, founded by renowned Bitcoin developer Jeff Garzik, blockchain security pioneer Max Sanchez, and early crypto entrepreneur, Matthew Roszak.Learn more at https://hemi.xyz/. Disclaimer: The information provided in this article is intended for informational purposes only and does not constitute investment advice, endorsement, analysis, or recommendations with respect to any financial instruments, investments, or issuers. This article may contain forward-looking statements which are by nature subject to risks and uncertainties. Investment in cryptocurrency and DeFi projects involves substantial risk, including the risk of complete loss. This article does not take into account the investment objectives, financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decisions.

Main TakeawaysBinance Margin offers automated features like Auto-Transfer, Auto-Borrow, and Auto-Repay to streamline your trading experience.These features allow users to open, manage, and close positions with fewer steps.This guide explains how to set up and use the Binance Margin’s automated features.Margin trading can get complex, especially for those who are new to it. Luckily, Binance Margin’s automated tools are here to help by simplifying the process. Whether you're transferring funds, borrowing for leverage, or paying back loans, Binance has designed features like Auto-Transfer, Auto-Borrow, and Auto-Repay to make the entire process as seamless as possible. Think of these tools as your personal assistants, handling the details while you focus on making smart trades.Smart AutomationImagine you’ve spotted a market opportunity, but your Margin Wallet doesn’t have enough funds. Instead of manually moving money from one wallet to another, Auto-Transfer steps in and transfers the funds from your Spot Wallet to your Margin Wallet for you. Gone are the days of wasting time switching between wallets and making manual transfers. With Auto-Transfer, everything happens behind the scenes, so you can focus on seizing opportunities quickly. Here’s how else Auto-Mode features can help you.Auto-Transfer This feature allows you to place orders using the funds in your Spot Wallet as collateral. For example, if your Margin Wallet is short on USDC but you have some in your Spot Wallet, Auto-Transfer will automatically shift those funds, making them available for margin orders.Auto-BorrowAuto-Borrow makes it easier to leverage your trades by automatically borrowing the amount of crypto you need for a trade. If you’ve got 10 USDC and want to purchase 50 USDC worth of bitcoin, Auto-Borrow will handle the difference, borrowing 40 USDC for you.Auto-RepayOnce you’ve made a profit and want to settle your loans, Auto-Repay takes the funds from your completed trades and automatically pays down your borrowed amount. No more worrying about calculating repayments or missing deadlines.Close PositionWhen you’re ready to close out a trade, the Close Position feature automatically repays your debt and converts any leftover assets into your chosen token. It’s a fast and simple way to tidy up your open trades without leaving anything behind.How Auto-Mode Works in Margin Trading: ExamplesImagine you’re new to margin trading, and all your funds are sitting in your Spot Wallet, for example, in USDC. You see a great opportunity in the market and want to buy some BTC. However, you don’t have enough funds in your Margin Wallet. Here’s how Auto-Mode makes this simpler when relevant features are enabled.Steps 1 & 2: You place a buy order for BTC using the Auto-Borrow feature. If Auto-Transfer is on, the system will automatically move the USDC from your Spot Wallet to your Margin Wallet. It will also borrow additional USDC if needed to ensure you have enough to complete the order.For example, if you have no USDC in your Margin Wallet but have 10 USDC in your Spot Wallet, the system will use those 10 USDC for the order. If you need more, the system will borrow it for you. Step 3: Let’s say the price of BTC goes up, and you want to sell the asset to repay your loan to make a profit. You place a sell order using Auto-Repay, and the system will automatically sell your BTC, use the proceeds to repay the USDC you borrowed, and leave you with the rest.For example, if you borrow 50 USDC and sell BTC to receive 20 USDC, the system will use those 20 USDC to start repaying your loan right away.Step 4: If you’re done trading and want to close out your position, just hit the Close Position button and select USDC as your currency. The system will convert any leftover BTC to USDC, repay any debt, and close your position for you.In short, with Auto-Mode, the system handles all the heavy lifting: it moves your funds, borrows what you need, and repays your debt without you having to think about it. No more manual transfers or extra steps!How to Set up Auto Featured: A Step-by-Step Guide Step 0: Auto-Transfer is enabled by default for all Margin users. When your Margin Wallet lacks the necessary funds, the system will automatically use your Spot Wallet balance to cover the trade. On the Binance website, click on [Trades] and then [Margin]. Then scroll down to the order section. Here, if you hover over [Avbl] (Available balance), you will see both your Spot and Margin available balances that can be used. Step 1: On the same screen, select [Borrow] to place an Auto-Borrow order when placing a buy order. If the amount needed for the order exceeds your available balance, the system will automatically borrow what’s required.Step 3: To place an Auto Repay order, select [Repay] after completing a trade. The system will use your available balance to repay as much debt as possible.Step 4: To close your position, click [Close Position]. After choosing a stablecoin for settlement, the system will automatically handle the rest, converting remaining assets and repaying debts.Final Thoughts With the automated features on Binance Margin, trading becomes smoother and more efficient. The system takes care of tasks like fund transfers, borrowing, and repayments automatically, letting you focus on your trades. It's a user-friendly way to manage trades without unnecessary steps, enhancing your trading experience.Further ReadingHow to Use the Close Position and Repay Functions on Binance Margin?What Is the Isolated Margin Auto-Transfer Mode?What is Binance Margin Trading?Disclaimer and Risk Warning: 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.  Digital assets are subject to high market risk and price volatility. The information provided does not constitute, in any way, a solicitation or recommendation or inducement to buy or sell the products. The value of your investment may go down or up, and you may not get back the amount invested. Comments and analysis do not constitute a commitment or guarantee on the part of Binance. 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. To learn more about how to protect yourself, visit our Responsible Trading page.

Main TakeawaysThe upcoming FOMC meeting on September 17-18, 2024, is likely to introduce significant policy changes that impact the digital-asset market.Lower borrowing costs are expected to create a more conducive investing environment for risk assets like crypto. Certain crypto-specific factors such as post-halving cycles and seasonality could also contribute to positive market dynamics.Investors are optimistic about the potential for renewed growth in digital assets, given the anticipated shift in U.S. monetary policy.The Federal Open Market Committee (FOMC) – the U.S. Federal Reserve System’s monetary policy-setting arm – is scheduled to meet in the middle of next week, on September 17-18, 2024. Following Fed Chair Jerome Powell’s remarks at the recent Jackson Hole Symposium, where he indicated that “time has come” for policy to change, the markets expect the upcoming FOMC meeting to yield the first in a series of interest rate cuts. Such a shift is set to recalibrate the economic landscape and will likely have significant effects on crypto markets, known for their sensitivity to macroeconomic changes. With lower borrowing costs on the horizon, crypto investors are evaluating various scenarios that can unfold, including energized innovation and growth in the crypto space and rebounding prices. Some, however, remain cautious in their assessments. Read on for more context around the expected interest rate cuts and the changes they can bring to the world of digital assets.A Primer on Interest Rates And Recent Fed PolicyCentral bank interest rates are a key tool in shaping monetary policy, directly influencing the broader economy. By adjusting the rates, central banks can encourage people and businesses to borrow and spend more (by lowering them) or help cool down an economy that’s too “hot” (by raising the rates). These changes ripple through to everything from the interest on personal loans and mortgages to the investment decisions on Wall Street and consumer goods prices.The current U.S. rates of 5.25%-5.50% are at their highest in 23 years after two and a half years of aggressive measures aimed at combating inflation, which has dropped from 7.1% to a more sustainable 2.5%. In the wake of the COVID-19 pandemic, the Federal Reserve initiated a series of rate hikes to curb the climbing inflation – 11 in just over a year – to keep inflation in check without tipping the economy into a recession.As we approach the next FOMC meeting, the financial world is abuzz with speculation, with analysts and investors offering varying forecasts of the magnitude of the expected cuts.Tremendous retail interest is also evident in prediction markets like Polymarket. As of September 13, 2024, betting odds suggest a strong popular belief that a rate cut is forthcoming, with as much as 70% probability assigned to a 25 basis points decrease and a 29% chance for a more aggressive cut of 50+ basis points.With digital asset prices fluctuating below the highs seen just a few months ago, the slashing of interest rates could be just what is needed to give the crypto market a much-needed boost – yet, as always, what we know about markets’ past behavior should not be seen as a blueprint of what’s to come.A Boon For Crypto Prices?The anticipated rate cuts are likely to have a profound impact on digital asset prices. Historically, cryptocurrencies like bitcoin have often reacted negatively to rate hikes aimed at curbing inflation. Conversely, rate cuts are generally seen as bullish for cryptocurrencies, which are considered risk assets. As borrowing costs decrease, investors find it cheaper to take out loans, leading to increased liquidity in the financial system. This influx of capital can drive up demand for higher-yielding, riskier assets, including crypto. For example, between February 2020, when the Fed brought rates close to zero, and February 2022, when rate hikes came back, the price of BTC saw a whopping 375% increase. In addition to thriving on increased liquidity, bitcoin can benefit from its anti-inflationary qualities. While the U.S. economy appears to be relatively robust in the buildup to the rate hiking cycle, the chances of inflation picking up again are far from negligible.Lower interest rates can stoke fears of inflation, as they typically lead to increased spending and borrowing. In such scenarios, investors may turn to cryptocurrencies to protect their purchasing power, driving up demand and prices. Experts predict that the Federal Reserve could cut rates by as much as 175 basis points over the next nine months, potentially providing a significant boost to the crypto market.Moreover, a reduction in interest rates often results in a weaker U.S dollar. Cryptocurrencies are frequently viewed as a hedge against currency devaluation, making them more attractive as an alternative store of value when the dollar weakens. Still, there are voices suggesting that rate cuts will not necessarily trigger the positive dynamics that optimists anticipate. One concern is that their beneficial effects on digital assets are already priced in. Some observers also point out that rate cuts of varying magnitude could exert varying effects on crypto.According to this logic, a standard 25 basis-point cut would likely lead to the easing of recession fears and contributing to digital asset prices gradually going up, while more aggressive cuts could signify more serious recession concerns, which would in turn put downward pressure on the prices of risk-on assets.Crypto-Specific FactorsBeyond macroeconomic factors, BTC and other digital assets have their own unique features that could influence their prospects amid rate cuts. Some of them have to do with hypothesized cycles of crypto’s price performance and observed seasonality.One key factor is the recent Bitcoin halving, which has historically led to BTC price increases 6-18 months afterward. While past performance does not guarantee future results, the halving, which took place this April, could provide a directional indicator for investors. Coupled with the potential for easier transition between equities and crypto thanks to the availability of spot ETFs, the increased liquidity resulting from rate cuts could have both the appetite and the means to flow into crypto markets.Outside of the hypothesized post-halving cycle, September historically ranks among the weakest months for digital-asset markets, with prices usually picking up from October on. Should this dynamic play out again, expected rate cuts could provide additional momentum as prices bounce off the bottom.Bottom LineOn balance, do crypto investors have more reasons to be optimistic than otherwise? The effects of Fed rate cuts on the digital-asset market are impossible to predict with certainty —  yet, there are some indicators suggesting that the Federal Reserve enacting policy change in the second half of September could be good timing for crypto investors’ perspective. As the FOMC prepares for its September, the anticipated interest rate cuts could usher in a new era of economic recalibration, potentially invigorating the crypto markets. While the exact outcomes remain uncertain, the prospect of lower borrowing costs and increased liquidity offers a promising landscape for digital assets.Historical trends and unique crypto-specific factors, such as the recent Bitcoin halving and seasonal market behaviors, further bolster the optimism that these policy changes could catalyze growth and innovation in the crypto space, providing a hopeful outlook for investors.Further ReadingThe Role of Digital Assets in Investment PortfoliosBinance Research: Key Trends in Crypto – September 2024It’s Live – What Now? The Potential Effects of Ether Spot ETFs on the Market and Staking EconomicsDisclaimer: 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. 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.

The security and protection of user funds is a fundamental responsibility of any cryptocurrency platform. We urge the WazirX team under Zanmai/Zettai to be accountable to WazirX users and compensate them for the funds that have been lost under Zanmai/Zettai management. Their responsibility to WazirX users is unrelated to their dispute with Binance. Their attempts to shift responsibility is a disappointing deflection tactic, but it should not distract anyone from the glaring issue to be addressed here: the need for the WazirX team to be held accountable for user funds lost under their management.  On July 18, 2024, the WazirX platform reported that it had suffered a cyber-attack on a wallet that held WazirX user funds. This compromised wallet was a multisig wallet that had five signatories from the WazirX team and one signatory from Liminal, a third-party custody solutions provider engaged by the WazirX team. Binance was not involved in the operations of the compromised wallet in any way.  The WazirX team and Nischal Shetty continue to mislead WazirX customers and the market regarding the relationship between WazirX and Binance. Binance has not owned, controlled, or operated WazirX at any time, including before, during, or after the July 2024 attack. On the other hand, Zanmai, a company incorporated in India, is the entity that registered the WazirX platform with the Indian FIU in 2023, and is recognized by India’s Enforcement Directorate as the owner of WazirX.Binance has no responsibility for the operation of the WazirX platform and the consequences of the alleged hack. Zanmai/Zettai and their affiliates accept that they still operate WazirX and that Binance was not involved in the operation of WazirX or the compromised wallet at the time of the attack. Binance is not a party to WazirX’s User Agreement, and references to Binance in this Agreement are unauthorized. BackgroundThe Zanmai-run WazirX platform reported that it had suffered a cyber-attack on July 18, 2024, resulting in the loss of user funds with a market value of around $235 million. The alleged hack precipitated withdrawal requests from WazirX customers that WazirX cannot meet up to this day. On August 27, 2024, Zettai Pte Ltd, a legal entity incorporated in Singapore, made an application to the Singapore High Court for a moratorium to prevent creditors (i.e., WazirX’s customers) from taking collective action against it. Nischal Shetty, the main owner of Zettai, has subsequently submitted two sworn affidavits in support of the application.  Mr. Shetty confirmed that the cyber-attack “represents a theft of digital assets amounting to close to half of the Platform’s digital assets” and that “the Platform would not be able to meet” withdrawal requests.In his sworn affidavits, Mr. Shetty made several inaccurate statements about the ongoing dispute between Zettai and Binance. Mr. Shetty’s allegations make it clear that he is trying to deflect the blame and claim that Binance may somehow be responsible for the losses suffered by WazirX users and creditors as a result of the cyber-attack. This is false, and any suggestion of the sort is outrageously misleading.Binance feels compelled to correct several major inaccuracies to help the user community see the situation and its key facts more clearly. However, the following is not intended to be an exhaustive response to Mr. Shetty’s allegations or matters under dispute with Zettai and their affiliates. Binance reserves all its rights to make further comments in the appropriate forum. The Facts1. Binance did not acquire WazirXMr. Shetty asserts that Binance has acquired ownership and control over WazirX.As we have stated previously, Binance never acquired or controlled WazirX. While a contract had been signed between the parties, the proposed transaction never closed due to Zettai’s failure to perform its obligations. Binance has never owned, controlled, or operated WazirX at any time, including before, during, or after the alleged hack. On the other hand:Zanmai Labs Pvt Ltd (a company incorporated in India) is the legal entity that registered the WazirX platform with the Indian FIU. India’s Directorate of Enforcement, having investigated the WazirX exchange, has stated that Zanmai is the owner of WazirX.At all times, Mr. Shetty’s team retained ownership and control over WazirX. Zanmai, Zettai, and Mr. Shetty accept that they still operate and have always operated WazirX. For example, Mr. Shetty publicly stated on his social media account on 30 September 2023 that “I’m still running WazirX.”  2. Whatever the outcome of the dispute, Binance does not own or operate WazirX Mr. Shetty suggests that the outcome of the current dispute between Zettai and Binance may result in a determination that Binance owns WazirX and that this would result in the creditors of Zettai becoming creditors of Binance, with the implication that Binance would be responsible for making WazirX users whole. This is wrong. Who owns or controls WazirX is not an issue that will be resolved in the ongoing dispute. As we have repeatedly made clear previously, Binance does not own or control WazirX. Zettai and its affiliates accept that they still operate WazirX. In the dispute, Zettai and its affiliates are not seeking a declaration that Binance is the owner, controller, or operator of WazirX. There is no legal basis, in any scenario, to the claim that Binance would be liable for claims against Zettai (see further below). Any suggestion of Mr. Shetty to this effect is incorrect.3. Binance is not a party to WazirX’s User Agreement with WazirX usersMr. Shetty asserts that Zanmai only operates INR-related services on WazirX, while Binance operates cryptocurrency-related services, and points to the WazirX User Agreement as evidence. This is incorrect. Notably, India’s Directorate of Enforcement has found that Zanmai has given “contradictory and ambiguous answers” on this topic to “evade oversight by Indian regulatory agencies”.Binance does not provide and has never provided cryptocurrency-related services to WazirX users as described in the WazirX User Agreement. As we have said before, Binance had previously provided Zanmai wallet services as a tech solution for their operations of the WazirX exchange, as we do for many other third parties. Binance has never operated WazirX.The provision of these wallet services to Zanmai was not unique – it was similar to arrangements that we have with numerous other virtual asset service providers (VASPs) globally, including through our Binance Link program. These VASPs use our technology and infrastructure to independently run their business. These other VASPs rightfully do not claim that Binance is providing services to their clients or refer to Binance as a contractual counterparty with their users.The WazirX User Agreement suggesting that Binance provides services to WazirX users is incorrect and misleading. The references to Binance on the WazirX User Agreement have never been authorized or agreed by Binance. Binance has strongly objected to the unauthorized references to Binance in the WazirX User Agreement and demanded that references to Binance be removed from the WazirX User Agreement. Yet, Mr. Shetty, Zanmai, and related entities, who control WazirX, ignored these demands.  As Binance does not own or control the WazirX platform, as we explained above, it is unable to amend the WazirX User Agreement.Furthermore, the dispute between Zettai and Binance will not result in Binance becoming a party to the WazirX User Agreement. Zettai seeks no declarations in relation to the WazirX User Agreement.4. Binance does not hold any WazirX user fundsAs we explained above, like many other cryptocurrency exchanges, WazirX previously used cryptocurrency wallets hosted on Binance. WazirX did so even before the potential acquisition of WazirX by Binance, which ultimately never happened.In January 2023, Binance notified Zanmai and another affiliate of Zanmai that they were required to withdraw funds from a number of Binance cryptocurrency wallets (which included WazirX user funds). As Mr. Shetty accepts in his sworn affidavits, his team withdrew the funds. From that point onwards, no WazirX user funds remained with Binance.   5. Binance has no responsibility for the consequences of the cyber-attackMr. Shetty suggests that Binance is somehow responsible for the consequences of the cyber-attack, because Binance requested that the WazirX user funds be removed from Binance wallets. This is incorrect. Binance bears no responsibility for the consequences of the alleged hack.Binance is not obliged to hold WazirX user funds and gave fair notice that WazirX user funds should be removed from Binance’s wallets long before the attack occurred, which Mr. Shetty’s team did.Once WazirX users’ funds were removed from Binance, Mr. Shetty and Zettai selected custody solutions provider Liminal to hold these assets. Binance was not consulted about this arrangement and was not aware of it. The choice of the new custodian was exclusively Mr. Shetty and Zettai’s decision. Furthermore, the WazirX team has confirmed that they and Liminal (not Binance) were wallet signatories and the compromised wallet was operated utilizing the services of Liminal and not Binance. Binance has not been able to verify the alleged cyber-attack. We have requested the WazirX team to provide us with their reports on the incident including all internal reports as well as the purported report from Mandiant from August 14, 2024, which details the cause of the attack, and verification of the amount and proportion of user funds affected, but these requests remained unanswered. We invite the WazirX team once again to produce their reports on the details of the attack. According to Liminal, an investigation by Grant Thornton “affirm[ed] the security of Liminal’s frontend and backend infrastructure” and concluded that the cyberattack “originated outside of Liminal’s infrastructure”.  More details are available here and here. 6. The statements made by Mr. Shetty are inaccurate and misleadingZettai and Mr. Shetty continue to mislead WazirX customers and the market and perpetuate an inaccurate narrative, including in sworn affidavits made to the Singapore High Court. In light of the ongoing misinformation propagated by Zettai and Mr. Shetty, it is crucial for WazirX users and the broader market to understand that Binance has never owned, controlled, or operated WazirX at any point, including during the July 2024 alleged hack. Binance bears no responsibility for the operation of the WazirX platform or the consequences of the attack.Despite Mr. Shetty's attempts to deflect blame and falsely implicate Binance, the facts remain clear: Binance is not a party to WazirX’s User Agreement, has never owned or operated WazirX, and does not hold any WazirX user funds. We urge the user community to stay informed and critically evaluate the misleading statements made by Mr. Shetty, as Binance remains committed to transparency and user protection. We trust users to be able to come to their own conclusions in light of these facts.

Main TakeawaysIn July and August 2024, our Binance teams reviewed and processed 5,636 product and feature ideas submitted by our user community through the Feature Request & Feedback Board.We’ve observed a very diverse selection of feedback and requests across our product lineup, including but not limited to Binance Square, Bot Trading, and Loans, alongside continuous refinements and fine-tuning of the user interface.We have plenty to share from what we’ve built over the past two months and have highlighted some of these updates in a fully animated version of our roundup on our official X and Facebook channels.This is a general announcement. Products and services mentioned here may not be available in your region.Welcome to the July & August 2024 edition of our #BinanceBuild recap — your gateway to discovering the latest enhancements within the Binance ecosystem. While major feature updates are at the heart of our advancements, the nuanced improvements inspired by your invaluable suggestions from our Feature Request & Feedback Board are equally significant in shaping our growth. Let’s dive in. Enriching Your Social Interactions: Binance Square UpdatesOur users and communities have been fundamental to our growth since day one. This is why we engage with the global community daily, always staying attuned to their needs. A key platform for this engagement is Binance Square. Since its launch in October 2022, Square has quickly become a premier social platform for crypto enthusiasts. With over 30 million monthly active users and 800,000 content creators, it offers diverse content in 26 languages, fostering global discussions on the latest Web3 trends.Here are two recent updates we’ve introduced to the platform, designed to enhance your social experience.Video UploadsWe’ve launched video content support, now accessible to all KYC-verified creators on Binance Square. Upload and share your creative videos, from daily crypto updates and trading strategies to tutorial guides. Connect with fellow crypto enthusiasts and enrich the Binance community with your valuable insights. Binance Square Audio Live: Real-Time Crypto ConversationsAudio Live is a striking update designed for real-time, interactive conversations. Whether you’re listening to expert insights or participating in live Q&A sessions, Audio Live supports up to 10 speakers simultaneously and offers session recording capabilities. To introduce this new feature, we hosted a fireside chat with our CEO, Richard Teng, on August 28, 2024, providing an excellent opportunity for you to experience Audio Live and Binance Square first hand. Elevate Crypto Trading with Binance Trading BotsCryptocurrency trading can be complex and time-consuming, requiring constant market monitoring. Binance Trading Bots simplify this with tools to automate and optimize strategies.Consider Binance Trading Bots as automated systems that perform trades on the Binance exchange according to set criteria and strategies. Their primary benefit is the ability to function around the clock, removing the necessity for continuous manual oversight and intervention from the user.Extended Support for Arbitrage BotFutures funding rate arbitrage is a strategy where traders hedge their futures positions by taking opposite stances in the spot market for the same trading pair. This involves opening long and short positions simultaneously to benefit from funding fees, balancing losses with gains to maintain neutral risk. The Binance futures funding rate arbitrage bot automates this strategy, enabling traders to capitalize on funding rate variations without constant monitoring.To simplify access to the arbitrage bot, we’ve revamped the Binance Bots landing page to highlight available arbitrage opportunities ready for activation, featured alongside a range of other bot strategies.Breakeven Estimator Tool To enhance your experience with the arbitrage bot, we’ve also introduced the Breakeven Estimator, offering deeper insights into the strategy. This tool calculates the estimated breakeven period based on the average funding rate over the past 30 days.Simply tap the arrow next to “Recommended Min Holding Period” to view detailed calculations based on 3, 7, and 30-day funding rate assumptions. Since funding rate arbitrage strategies may take longer to yield profits, this tool helps users estimate when they can expect to see a return on their investment.Refined Interfaces for Effortless Navigation We continually refine our web and app navigation to make complex systems intuitive and user-friendly. By reducing the learning curve, minimizing errors, and enhancing efficiency, we eliminate UI clutter, allowing you to focus on your goals. A streamlined interface ensures quicker, more confident decision-making.Binance Loans IntegrationSupport for Binance Loans has been integrated into the wallet overview page to provide a more accurate display of your assets on Binance. Outstanding loans are now factored into the total asset calculation and appear as a negative balance under the account tab. By tapping on “Loan” under the account tab, you are seamlessly navigated to the loan page to view and manage your obligations.Personalize Your Futures Trading ConfigurationEvery trader has unique preferences for their trading configurations. That’s why we offer extensive customization options, including chart types, display modes, K-line, and order form positioning. This allows you to create a setup tailored to your specific needs, enhancing your overall trading experience. To further enhance customizability, we’ve introduced two new features:Customized Action ButtonsYou can now enable between one and four action buttons to manage your futures positions, including Adjust Leverage, Stop Profit & Loss, Close Positions, Market Close, and Reverse. Additionally, you can arrange the order and placement of these activated action buttons to suit your needs.Push NotificationsWe’ve also introduced custom push notifications to keep you informed at all times. These notifications include TP/SL triggers, position order fills, and funding fee triggers, allowing you to set a specific funding fee level for notifications.Other Notable Features Released in July & AugustWhatsApp OTP: We’ve expanded our multi-factor authentication (MFA) support to include WhatsApp for users in seven additional countries: Cameroon, Egypt, Kenya, Malaysian, Rwanda, Ukraine, Vietnam. Spot Copy Trading API: We’ve introduced API compatibility for Spot Copy Trading, enabling lead traders to manage their portfolios using their custom software for enhanced efficiency.Further ReadingUnderstanding the Risks of Off-Exchange P2P TradingBlockchain in the Modern Payments Landscape: Synergy and TransformationFrom Our CTO: How We’re Building the Industry’s Most User-Centric TechnologyDisclaimer: 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 TakeawaysA global threat is ongoing, whereby malware is altering users’ cryptocurrency withdrawal addresses, leading to significant financial losses for victims.Binance's security team is identifying and blacklisting suspicious addresses, informing affected users, and monitoring and counteracting these threats.We recommend that users verify the authenticity of apps and plugins, double-check withdrawal addresses, and stay informed to protect themselves from this scam.We have identified a global malware issue that is significantly impacting cryptocurrency transactions by altering withdrawal addresses during the transaction process. This type of malicious software, often referred to as "Clipper malware," intercepts data stored in the clipboard, primarily targeting cryptocurrency wallet addresses. When a user copies and pastes a wallet address to transfer cryptocurrency, the malware replaces the original address with one designated by the attacker. If the user completes the transfer without noticing the change, the cryptocurrency is sent to the attacker's wallet, resulting in financial loss.The issue has seen a notable spike in activity, particularly on August 27, 2024, leading to significant financial losses for affected users. The malware is often distributed through unofficial apps and plugins, especially on Android and web apps, but iOS users should also remain vigilant. Many users inadvertently install these malicious apps while searching for software in their native languages or through unofficial channels, often due to restrictions in their countries.Binance's CountermeasuresOur security team is actively addressing this issue through several measures:Blacklisting Suspicious Addresses: We have blacklisted the attacker addresses to prevent further fraudulent transactions. This has successfully thwarted numerous withdrawal attempts from potential victims.User Notifications: We have informed affected users about the malware and advised them to check their devices for any suspicious software or plugins.Incident Reporting: Affected users have been asked to share details about their incidents to help us identify and analyze the malicious software and plugins involved.Ongoing Monitoring: Our team continues to monitor for new threats and update our security protocols accordingly.Measures to Stay SafeTo protect yourself from this type of malware, follow these security tips:Verify Authenticity: Ensure that the apps and plugins you are using are authentic and not fake or potentially harmful versions. Avoid downloading software from unofficial sources.Double-Check Addresses: Always double- or triple-check your withdrawal address before completing any transactions. This simple step can prevent significant financial loss. To be extra safe, you can take a screenshot of the withdrawal address right before sending the payment and have the recipient verify it against a photo to leave text-altering malware no chance.Stay Informed: Keep up-to-date with the latest security advisories from Binance and other trusted sources. Awareness is a key component of cybersecurity.Use Security Software: Install reputable security software on your devices to detect and remove malware. Regularly update this software to protect against new threats.By following these guidelines and staying vigilant, you can significantly reduce the risk of falling victim to this type of scam. Binance’s security team remains committed to safeguarding your assets and providing you with the tools and information needed to stay secure as the situation unfolds.Further ReadingHow to Avoid and Report Fake Service ScamsKnow Your Scam: A Definitive Guide to Crypto's Most Prevalent ScamsUnderstanding the Risks of Off-Exchange P2P Trading

Main TakeawaysBinance Blockchain Week Dubai 2024’s speaker lineup is here with some of crypto’s biggest names and leading innovators.Our speaker lineup so far includes representatives from Circle, Nansen, Dubai Future Foundation, and Wamda Capital, as well as other Binance speakers. Expect more names to follow soon!Make sure to secure your tickets now for $99 before the price increases to $150.Join us and our first group of announced speakers at Binance Blockchain Week Dubai 2024’s Main & Innovation Stages.It’s safe to say that preparations for Binance’s flagship event this October are in high gear! With our momentum theme in full swing, we’re committed to delivering top-tier content and bringing together the most influential speakers to engage with in Dubai.As we accelerate towards the event’s opening date, we’re thrilled to unveil our initial lineup of speakers, with many more to be announced soon. Our theme reflects the driving force behind our industry, and we’re sure you’ll recognize this through our lineup. For more details on the event in general, make sure to visit the official Binance Blockchain Week 2024 Dubai website. Get ready to connect with the brightest minds, boldest builders, and daring innovators in the industry this October in Dubai.There’s also time to save yourself some money by purchasing a ticket now for $99 (exclusive of V.A.T) before the price increases to $150! Stock is strictly limited, so make sure to get yours as soon as possible.[Buy Your Tickets Now]Meet a Selection of Our Invited Speakers Joining You in DubaiThe visionaries, creators, and thought leaders listed below are just a preview of our distinguished guest speakers. For a complete list of attendees and stage participants, please visit the Binance Blockchain Week 2024 Dubai website.We will be unveiling even more names as the event date approaches, so keep an eye out for further announcements and exciting reveals!Adeeb Ahamed - LuLu Financial Holdings - Managing DirectorAlex Svanevik - Nansen - CEOFadi Ghandour - Wamda Capital - Executive ChairmanJeremy Allaire - Circle - CEOKendrick Nguyen - Republic - CEOKhalfan Belhoul - Dubai Future Foundation - CEOMichael Bouhanna - Sotheby's -Vice President, Head of Digital ArtBinance Blockchain Week Dubai 2024 will also be the place to see and meet a whole host of our leaders and staff, including:Richard Teng - Binance - CEONoah Perlman - Binance - Chief Compliance OfficerRachel Conlan - Binance - Chief Marketing OfficerRohit Wad - Binance - Chief Technical OfficerVishal Sacheendran - Binance - Head of Regional MarketsDon’t Forget Our Innovation Stage for a More Personal ExperienceBeyond the Main Stage and its speaker line up, our Innovation Stage is set to highlight the most recent advancements and cutting-edge developments in the Web3 space up close and personal. Over the course of two days, attendees will have numerous opportunities to delve into the industry's progress and emerging trends, guided by our expert speakers. From workshops through to talks, keynotes, and interactive sessions, you’re sure to find something unique.So who's speaking on the Innovation Stage?Our carefully selected speakers for the Innovation Stage represent a broad spectrum of the Web3 ecosystem from the last year and beyond. We’ll be sharing more details about the lineup soon, but you can expect to hear from some of 2023 and 2024’s shining stars as well as large names and personalities.Join Us in Dubai and Learn Where the Industry’s Momentum Is Taking UsLike the sound of what you’ve heard? There’s no better way to learn from and engage with our speakers than to join us on the day itself. Meet us in Dubai, experience the Binance community first hand, and learn more about an industry that is accelerating into the future.Binance Blockchain Week 2024 also wants to welcome Celo as the Hero sponsor, along with MANTRA and THORChain as Palladium sponsors, and IOTA and First Digital as Platinum sponsors. To see the full list of our sponsors, head to our sponsors page.Make sure also to stay tuned for more updates on specific speakers, topics, and workshops in the coming weeks.We’ve got plenty in store for you all, and it only takes buying a ticket to ensure you’re right at the center of all things Web3. We look forward to seeing you on the ground in Dubai![Buy Your Ticket Now]Further ReadingBinance Announces Blockchain Week Dubai 2024 With Early Bird Tickets Now on Sale Binance Blockchain Week Website Disclaimer: 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 TakeawaysSpot Copy Trading lets you mirror the strategies of expert traders directly in your own account, simplifying complex trading decisions.Practice Spot Copy Trading risk-free with Binance’s new Mock Spot Copy Trading feature, using virtual funds to safely replicate and learn from expert traders.Compete in our Mock Spot Copy Trading Tournament from September 11-29, 2024, for a chance to win a share of 10,000 FDUSD in token vouchers.This is a general announcement. Products and services referred to here may not be available in your region.Want to explore the world of crypto trading but hesitant to dive in with real money? Binance has the perfect solution for you with the launch of Mock Spot Copy Trading. This feature allows you to simulate real trading strategies without any financial risk, giving you the confidence and experience you need before engaging in actual trades.To celebrate this launch, we’re also kicking off an exciting Mock Spot Copy Trading Tournament (September 11-29, 2024) where participants can share in 10,000 FDUSD worth of rewards. This blog will guide you through everything you need to know about Mock Spot Copy Trading, from how it works to how you can participate in the tournament. Start your risk-free trading journey on Binance today!What is Mock Spot Copy Trading and Why Use It?Mock Spot Copy Trading is an educational feature on Binance that allows you to practice Spot Copy Trading without any financial risk. In Spot Copy Trading, users can automatically replicate the trades of experienced Lead Traders in real-time, leveraging their strategies and expertise to navigate the markets. With Mock Spot Copy Trading, you’re provided with virtual funds to simulate this process, enabling you to follow Lead Traders, observe their strategies, and see how your mock portfolio performs under actual market conditions — all without putting your capital at risk. This tool is ideal for both beginners and experienced traders. For beginners, it offers a risk-free environment to learn how to trade by copying the strategies of top traders. You can experiment with different approaches, understand market movements, and gain practical experience without the fear of financial loss. This hands-on learning experience builds the confidence needed for live trading.For seasoned traders, Mock Spot Copy Trading serves as a platform to refine strategies, test ideas, and see how different trading styles perform under real market conditions. Whether you’re just starting or looking to improve your skills, Mock Spot Copy Trading is a valuable resource for advancing your trading knowledge in an educational setting.How Mock Spot Copy Trading WorksGetting started with Mock Spot Copy Trading on Binance is simple and user-friendly, allowing you to dive into the world of trading without any financial risk. Here’s a quick step-by-step guide to help you begin:Log In or Create an Account: Start by logging into your Binance account. If you don’t have one, sign up easily on the Binance platform.Navigate to Copy Trading: https://www.binance.com/en/copy-trading/spot Explore Lead Traders: Browse through the list of Lead Traders, reviewing their performance, strategies, and history. Choose the ones that align with your trading goals.Allocate Virtual Funds: Once you’ve selected your Lead Traders, allocate your virtual funds to create a mock trading portfolio. You can follow up to 10 Lead Traders simultaneously. Your portfolio will start to copy their trades.Monitor and Adjust: Track your portfolio’s performance in real-time. You’ll have the same gains/losses as the Lead Trader(s) you’re copying. You can make adjustments, switch Lead Traders, or stop following them as needed.Features Overview:Realistic Simulation: Experience real-time market conditions without the risk.Diverse Strategies: Follow up to 10 Lead Traders to explore various trading approaches.Full Control: Manage your mock portfolio just like a real one, with the ability to monitor performance and make strategic decisions.With Mock Spot Copy Trading, you gain valuable experience in trading strategies and portfolio management, all while practicing in a safe, risk-free environment.Binance Mock Spot Copy Trading Tournament: Compete and Win FDUSDTo celebrate the launch of Mock Spot Copy Trading, Binance is excited to introduce the Mock Spot Copy Trading Tournament (September 11-29, 2024), a unique opportunity for traders to compete in a risk-free environment and share in rewards worth 10,000 FDUSD. This tournament is designed to encourage traders to explore the new feature using virtual funds while also offering a chance to win very real financial rewards.The tournament is open to all regular and VIP 1-3 users who have never traded on Spot Copy Trading before the promotion period. If you’re new to Spot Copy Trading, this is the perfect chance to dive in and test your skills in a simulated environment.How to Participate:Register for the promotion by logging into your Binance account.Create a Mock Portfolio by selecting and following at least one Lead Trader using the Mock Spot Copy Trading feature.Manage your mock portfolio during the promotion period, which runs from September 11, 2024, 04:00 (UTC) to September 29, 2024, 23:59 (UTC).Participants will be ranked based on the total Profit and Loss (PnL) across all their active mock portfolios. The top performers will share 10,000 FDUSD in token vouchers, with the first-place winner receiving 1,500 FDUSD being rewarded. Don’t miss out on this exciting opportunity to hone your trading skills and compete for real rewards, all in a risk-free environment. Register now!Tips for Succeeding in the Mock Spot Copy Trading TournamentTo excel in the Mock Spot Copy Trading Tournament, consider these key strategies:Strategy Selection: Choose Lead Traders wisely by carefully reviewing their performance metrics, trading history, and strategies. Opt for traders with a consistent track record that aligns with your goals, whether it’s aggressive growth or steady gains.Diversification: Don’t put all your virtual funds into one basket. Diversify your mock portfolio by following multiple Lead Traders. This approach spreads risk and allows you to benefit from different trading styles and market insights.Learning from Mistakes: Use the tournament as a learning experience. Analyze your mock trades, identify what worked and what didn’t, and adjust your strategies accordingly. The risk-free environment gives you the freedom to make mistakes and learn from them without financial consequences.Transitioning from Mock to Real Spot Copy TradingOnce you’ve gained confidence and honed your strategies through Mock Spot Copy Trading, transitioning to real Spot Copy Trading is a natural next step. The process is straightforward: simply switch from the mock environment to the live trading platform within Binance. Begin by allocating real funds to the Lead Traders you trust, based on your experience with the mock portfolios.Always make sure you’re comfortable with the risks involved in live trading and start with an amount you’re willing to invest. Never use money you can’t afford to lose. With your newfound skills, you’ll be better equipped to navigate the real markets.Final ThoughtsMock Spot Copy Trading on Binance is an invaluable tool for both new and experienced traders to practice and refine different trading strategies in a risk-free environment. Through the use of virtual funds, you can directly learn from top Lead Traders by copying their strategies, allowing you to explore various trading approaches and understand market dynamics without any financial risk. This hands-on experience helps you build the confidence and skills needed for real-world trading.Don’t miss the chance to participate in the Mock Spot Copy Trading Tournament (September 11-29, 2024), where you can compete for a share of 10,000 FDUSD in token vouchers. It’s the perfect opportunity to test your skills, learn from expert traders, and potentially win rewards — all without risking any of your own money.Register today and take your first step toward mastering Spot Copy Trading on Binance!Further ReadingSpot Copy Trading: Unlock Expert Strategies With Just a Click! What Is a Spot Market and How to do Spot Trading?Introducing Copy Trading: Leverage the Power of ExpertsDisclaimer: Binance is not responsible for any trading decisions of copiers and/or traders whereas any content/material/information and/or past performance should not be construed as an indication of future results as it is used for informative purposes only. You should perform your own research and should not rely on the opinion/advice of the signal provider (s) and/or trader (s) as such do not constitute financial advice and should be treated with caution. It is further not guaranteed that what any profits and/or losses of the signal provider will be achieved by the copier whereas Binance cannot secure that a trade/position will be executed at the same time as the signal provider and/or order price and a higher amount may be lost as can be affected by numerous variants such as account balance, number of deposits/withdrawals, market, account settings and features of the signal provider’s account.Attention must also be placed on the variations between past performance and the actual results of the copy trading as there are inherent differences such as financial risk and ability to incur losses at the time of trading. Therefore, should you decide to engage in copy trading, you agree to proceed at your own responsibility and any opinions/view expressed between traders and/or signal providers do not amount to investment advice and/or financial advice either directly and/or indirectly. All traders should seek independent financial and/or tax advice should they decide to proceed with copy trading and they remain responsible for any actions and/or trading decisions on their trading account prior and/or once they engage with the copy trading feature.

September 19, 2024, Update: Binance Charity Support Program for Typhoon Yagi in Northern Vietnam has been completedThank you for your overwhelming response to our support initiative for users in the typhoon-impacted regions of northern Vietnam. Due to the strong participation, we have reached the program's maximum capacity earlier than expected.As a result, the program is now completed, and we will no longer accept new Proof of Address (POA) submissions for BNB token vouchers.Please note:- Users who completed their POA before September 10, 2024, in northern Vietnam will still receive a BNB token voucher worth 50 USD.- Users who registered before September 10, 2024, and submitted their POA by September 17, 2024 (23:00 UTC+7), will be considered for a BNB token voucher worth 20 USD on a first-come, first-served basis until all remaining vouchers are distributed.We apologize for any inconvenience and appreciate your understanding. Binance remains committed to supporting our community in the future.Thank you for your continued support.Binance Charity reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reason without prior notice.September 13, 2024In response to the devastation caused by the recent Typhoon Yagi in Northern Vietnam, Binance Charity will airdrop up to $1 million in BNB to registered Binance users identified as living in the areas affected by the tragedy.  Identification of impacted users will be based on their POA (proof-of-address) information indicating that they reside in one of the 25 cities in Northern Vietnam that have suffered the most significant impact.Users who have completed POA before September 10, 2024, in these 25 cities will receive $50 worth of BNB directly to their Binance accounts. Furthermore, understanding that not all affected users might have completed their POA by the stipulated date, Binance Charity will airdrop $20 worth of BNB to existing users in the region who have registered before September 10, 2024, and will have completed the POA from September 10, 2024, to September 30, 2024 (both dates inclusive).The first batch of donations will start reaching the beneficiaries' accounts on September 16, 2024.Binance CEO Richard Teng said: “We’d like to send our sincere condolences to those who are impacted by the devastating typhoon Yagi in Vietnam. We hope that our efforts can bring some relief to those affected. We stand in solidarity with the community members and hope the community can recover from this disaster soon.”Binance Charity previously launched several philanthropic initiatives in Vietnam, including saltwater filtration systems and medical supplies donations to help mitigate some issues the people there have been facing.In this difficult moment, Binance stands by our users and community.For more information, please visit our FAQ page.

Main TakeawaysScammers can create fake websites or social media profiles that mimic legitimate crypto exchanges, wallets, or investment platforms, offering non-existent or fraudulent products and services to deceive users.Fake customer support channels where scammers pose as representatives of legitimate companies can trick users into paying for the solving of non-existent issues. Broadly speaking, these diverse schemes fall under the category of fake service scams.Since the losses of digital assets are usually irreversible, Binance encourages users to stay informed and vigilant to protect themselves.Scammers in the crypto space are always looking to exploit some users’ lack of awareness and vigilance. The irreversible nature of blockchain transactions makes falling victim to such scams especially painful, making continuous education on evolving threats a necessity for every crypto user.Fake service scams that are the focus of today’s blog can come in a variety of forms, from counterfeit hardware and software to fraudulent services like shipping, fund recovery, customer support (such as upgrading a crypto exchange account to VIP level), or promising to solve non-existent account issues. All of these tactics aim to facilitate stealing funds from unsuspecting victims. Here’s what you should know to successfully identify and avoid fake service scams.Mechanics of Fake Service ScamsAt the core of every fake service scam is a counterfeit product or a fraudulent service offering that is designed to attract potential victims with a promise to deliver value to them, making users want to engage with the scammer. This may range from providing account verification on social platforms or games to posing as customer support agents to lure users into paying for the resolution of non-existent issues.Building CredibilityScammers may design professional-looking websites or use social media to build a credible online presence. They may use similar branding, logos, and even email addresses as the organizations they are aiming to imitate to seem authentic.Offering Attractive DealsScammers might pretend to be offering potentially useful services such as fund recovery, provide products at significantly lower prices than market rate, or promise high returns on investments.Collecting Payments And DisappearingAfter victims pay up for a product or service, scammers will vanish into thin air. They may go offline, shut down their operations, and disable all previously used forms of contact, making it impossible for victims to get a hold of them to try to recover their funds.Real-Life ExamplesThe “Licensed” Fraud ExpertMark saw an advertisement on social media claiming a licensed fraud expert and blockchain developer could recover stolen cryptocurrency. Without hesitation, Mark, who had lost a substantial sum to a crypto scam a few weeks earlier, contacted the expert and explained that he was seeking help with recovering his digital assets. The “expert” asked for a fee – allegedly, for the fund recovery transaction – to be paid upfront, which Mark transferred. However, the “expert” stopped replying after that, leaving Mark with no way to recover his funds.   This example shows the danger of engaging with self-proclaimed fund recovery facilitators, especially if they ask for payment upfront.Purchasing AI Crypto Mining SoftwareDennis saw a tweet advertising an AI-powered crypto-mining software product that promised high returns. Intrigued, he contacted the seller, who asked him to pay for activating the software. The scammer then asked for more money to activate the license key. Dennis realized it was a scam, but by then he had already lost some of his funds. This example highlights the need to be extra cautious when purchasing services or products from unfamiliar websites, especially when the offers promise unusually high returns.How to Avoid Fake Service ScamsBe Wary of Unsolicited OffersExercise extra caution with cold calls, emails, and social media messages offering services that sound too good to be true.Verify Contact InformationAlways check the contact details of sellers whose products and services you are considering to purchase, such as the emails or social media groups. Look for subtle differences in spelling that scammers use to impersonate well-known companies.Educate YourselfStay informed about common scams and how they operate. Knowledge and awareness are your best defense against fraud. If You’ve Been ScammedIf you find yourself a victim of a fake services scam, you should report the incident immediately to relevant local authorities and the platform or messaging tool on which the scam has occurred. Provide details such as the scammer’s profile name and any other information that may help prevent others from being scammed. To better protect yourself, read our anti-scam blog series. Further ReadingKnow Your Scam SeriesKnow Your Scam: A Definitive Guide to Crypto's Most Prevalent ScamsKnow Your Scam: How to Identify Fake Shopping WebsitesKnow Your Scam: Fake Crypto Investments to Watch Out For

Main Takeaways:Binance Labs has invested in OpenEden, whose focus is in building the bridge to a new financial system through its real-world assets (“RWA”) tokenization platform.Binance Labs provides unwavering support to projects that are unlocking the next wave of value and opportunities in Web3 through meaningful and sustainable technologies. Binance Labs, the venture capital and incubation arm of Binance, has invested in OpenEden, a real-world assets ("RWA") tokenization investment platform building the bridge to a new financial system. OpenEden as a group consists of a Monetary Authority of Singapore-licensed fund management company and a full-stack tokenization technology company. OpenEden’s tokenized U.S. T-Bill Fund (“TBILL”) is the first and only tokenized T-Bill product to receive an “A” rating from Moody’s, and is the largest of its kind outside the US. OpenEden’s mission is to bring trillions of dollars in real-world yields on-chain. They believe internet-native money will make RWAs accessible to everyone, creating a more inclusive and decentralized economy. Last month, OpenEden announced that they had achieved over $100 million in Total Value Locked (“TVL”) for their tokenized TBILLs.By enabling KYC-ed investors, DAOs, and crypto treasury managers to connect their self-custodial wallets and mint TBILL tokens, OpenEden allows them to earn a yield on their idle working capital in stablecoins. The platform's in-house management of the entire tokenization stack results in greater operational efficiency and higher net yields for token holders. To date, OpenEden has on-boarded over 100 institutional clients.With the new funding from Binance Labs, OpenEden plans to expand access to RWA-backed yields throughout the DeFi ecosystem. This will be achieved through the introduction of new products, the establishment of channel partnerships, and the exploration of emerging markets.“Binance Labs provides unwavering support to projects that are unlocking the next wave of opportunities in Web3 through meaningful and sustainable technologies. We believe OpenEden is well-positioned to capitalize on the growing adoption of stablecoins and RWAs, and we are excited to join them on this journey,” said Andy Chang, Investment Director, Binance Labs.“We are delighted to have the support of Binance Labs, a leader in the Web3 space, as we drive the growth of tokenized real-world assets. Their backing empowers us to accelerate our efforts in blending native yields with real-world yields, which will help stabilize returns in DeFi and create pathways for bringing institutional liquidity onto decentralized platforms,” said Jeremy Ng, Co-Founder of OpenEden.As the demand for tokenized RWAs has surged, T-Bills have emerged as a preferred choice among issuers. According to blockchain analytics firm Messari, the total value locked in RWAs has grown exponentially over the past year, reaching $8 billion.###About Binance LabsAs the venture capital arm and incubator of Binance, Binance Labs is dedicated to empowering early-stage projects and leading the growth and development of the Web3 ecosystem. Since our founding in 2018, we have consistently focused on the long-term, and provided strategic support and funding to projects, regardless of market cycles.As a chain- and sector-agnostic venture capital leader in the Web3 space, we back everything from infrastructure to application layers, and our focus has consistently been on tech innovation with meaningful product-market fit and sustainable revenue models.Binance Labs’ portfolio covers over 250 projects from over 25 countries across six continents. More than 65 of Binance Labs’ portfolio companies are projects that have gone through our incubation programs. For more information, follow Binance Labs on X. About OpenEdenOpenEden Labs is building the bridge to a new financial system. Its mission is to bring real-world assets to DeFi to unlock trillions of dollars in value.For more information, visit https://openeden.com/. Disclaimer: The information provided in this article is intended for informational purposes only and does not constitute investment advice, endorsement, analysis, or recommendations with respect to any financial instruments, investments, or issuers. This article may contain forward-looking statements which are by nature subject to risks and uncertainties. Investment in cryptocurrency and DeFi projects involves substantial risk, including the risk of complete loss. This article does not take into account the investment objectives, financial situation, or specific needs of any particular person and each individual is urged to consult their legal and financial advisors before making any investment decisions.

Main TakeawaysBinance's Financial Crime Compliance Unit received an award from the Royal Thai Police's Central Investigation Bureau for significant contributions to combating crypto-related crime.The collaboration between Binance and Thai law enforcement has been instrumental in enhancing the security of Thailand's digital-asset ecosystem, with Binance providing crucial analytical insights and support for major operations against transnational criminal networks.Binance's commitment to security is further demonstrated by its Global Law Enforcement Training Program, which has conducted nearly 200 training courses worldwide to aid law enforcement in fighting financial and cybercrimes related to digital assets.We are proud to share that the Law Enforcement and Investigation Team of Binance’s Financial Crime Compliance (FCC) Unit has been honored with an award by the Central Investigation Bureau (CIB) of the Royal Thai Police. This award, which recognizes Binance's significant contributions to CIB’s efforts to tackle crypto-related crime, was presented during the celebration of the fifteenth anniversary of the CIB’s Technology Crime Suppression Division (TCSD).Key Contributions and Successful CollaborationsAmong the many collaborative efforts run alongside the CIB, Binance has been actively supporting the Anti-Online Scam Operation Centre (AOC), which has been operational since last year. This new force is dedicated to combating online scams that are increasingly targeting Thai citizens, and Binance has been proactive in supporting the investigative needs of the agency since it launched.Binance also supported the CIB’s earlier operations – for example, a major crackdown that resulted in arrests across 30 sites involving over 200 officers to dismantle a transnational criminal network. In another major partnership, our teams provided analytical insights to support the investigations that led to the takedown of illegally installed computer networks linked to scam centers across the border.Private-Public Collaboration For SecurityThe collaboration between Binance and Thai law enforcement has been instrumental in enhancing the security and integrity of the digital-asset ecosystem in Thailand.Akbar A., Binance’s Head of Investigations for APAC, commented, "We are deeply honored to receive this award from the Central Investigation Bureau. This recognition is a testament to our unwavering commitment to fighting cybercrime and protecting the community."Col. Amornchai Leelakajonjit from the Technology Crime Suppression Division called the support and expertise provided by Binance “invaluable” in his unit’s efforts to combat crypto scams. He praised Binance’s proactive approach and dedication, which have significantly contributed to the success of Thai crime fighters’ operations. Leelakajonjit added, “We look forward to continuing this fruitful collaboration to ensure a safer crypto environment for all."This recognition marks another significant milestone in the ongoing partnership between Binance and the CIB, highlighting the importance of cross-sector collaboration in tackling crypto crime.A Continued Commitment to SecurityAt Binance, we firmly believe that collaboratively working with law enforcement agencies is the key to building trust and upholding security standards for the industry.As part of this commitment to promoting the safety and security of the wider digital-asset ecosystem, Binance formally launched the industry’s first Global Law Enforcement Training Program in 2022, aiming to support law enforcement agencies in their fight against financial and cybercrimes related to digital assets by providing training and sharing expertise. In the past two years, Binance has conducted almost 200 training courses worldwide, including several sessions with the CIB and other law enforcement agencies in Thailand.Further ReadingTokocrypto's PFAK License: A Major Milestone for Binance Subsidiary and Indonesia's Crypto IndustryBinance Appoints Grant Thornton Singapore as Global Accounting and Tax AdvisorHong Kong Police Recognizes Binance For Its Contribution on a Kidnapping Case

Main TakeawaysScience shows that the way people form their opinions and make decisions is far from being perfectly rational. How we think just about anything – including crypto – is heavily influenced by unconscious biases and systematic fallacies to which every human is prone to some extent.  The anchoring effect is a human tendency to be overly reliant on the first piece of information they receive regarding a topic. Beliefs formed this way can also become resistant to change — even when evidence to the contrary is presented.Anchoring can be responsible for some of the common misconceptions, both crypto-specific and unrelated, that persist in our society.Have you ever used the metaphor “goldfish memory” to describe someone who forgets things quickly? Or, perhaps, you wished that you could find a way to use more than ten percent of your brain capacity and thus achieve extraordinary mental powers? This is likely because in the past you may have been influenced by specific “facts” about goldfish and the human brain, which had anchored the way you think about these things. Spoiler alert – these “facts” are actually wrong!The way people form opinions and make decisions is far from being perfectly rational. Yet, we don't often stop to rethink or see the world differently. It's natural for our brains to simplify things so we can react quickly, but this can also let cognitive biases – unconscious bits of irrational thinking – sneak in. These biases can influence our perception and may ultimately lead to bad decisions, affecting everything from getting medical help on time to making investment choices. In our new series, Science Behind Crypto Misconceptions, we'll look at common false beliefs caused by these cognitive biases and how they lead to misunderstandings about crypto. The Anchoring EffectGoldfish are capable of remembering things for months. If you were thrown off by this statement because you are used to believing that goldfish can’t hold a memory for more than a few seconds, it is likely due to the anchoring effect.It is normal for humans to rely on and trust the first piece of information (also known as an anchor) about an object or phenomenon they encounter, basing subsequent judgements and decisions on it. This effect can be especially pronounced when the anchor contains an exact number – in this case, a remarkable factoid about three or five seconds of memory length, depending on the version of the popular myth you’ve encountered. Since most people don’t spend a lot of time thinking about goldfish and usually don’t know much about them beyond this memorable “fact,” the anchor sticks, becoming the foundation for individuals’ thinking on the topic long after they’ve forgotten where they’d heard the anchoring piece of information.Initially an evolutionary mechanism that optimized human thinking and allowed people to make quick and efficient decisions, cognitive biases like anchoring can be detrimental as our lives have become more complex than in hunter-gatherer times. We can make suboptimal judgments based on the anchor, even when the initial piece of information has already been proven false — and it is especially true when it comes to novel and dynamic topics like Web3 and crypto. Everyday Misconceptions: Goldfish and BrainsThe idea that goldfish only possess a 3-second memory is so widely and universally accepted that the term “goldfish” is frequently used to poke fun at someone’s forgetfulness. This myth has persisted across societies and cultures, and it is often the first and only thing that people know about goldfish. However, scientists have known for decades that the species can remember things for weeks and months — it’s just their findings never gained traction comparable to the popular misconception they’ve debunked. The same could be said for the widespread belief that humans only use 10% of their brain capacity. The latest neuroscientific research suggests that not only do we use our entire brain daily, our brain is also active at all times. But again, a number commonly attached to the attractive notion that we only use a small fraction of our cognitive potential has likely anchored many people’s thinking about the limits of the human brain when they first encountered it.If we can be so susceptible to the anchoring effect when it comes to these common misconceptions, it is no wonder that many people hold inaccurate beliefs about cryptocurrencies – a domain that until recently has been relatively niche and seen as obscure by most people outside of the digital-asset bubble. As crypto inches closer to mainstream adoption, many misconceptions that took hold during its early years can get in the way of progress.Crypto “Anchor:” Is BTC too Volatile, After All?The three-second memory is often one of the few things, if not the only one, that people know about goldfish. For those who only know one or two things about bitcoin, what would those be? Oftentimes, it is beliefs based on “anchoring” facts they’ve encountered. "Bitcoin is too volatile to be a reliable investment" is a common claim that people not very familiar with the crypto space often make. It is very easy to see why they think so: during the first decade and a half in existence, the original cryptocurrency has seen epic ups and downs, and the volatility of BTC’s price in the early years of crypto dwarfed that of more traditional investments. A conspicuous trait for a financial asset, the notion of bitcoin’s volatility has likely anchored many people’ perception of the original cryptocurrency at the time when they first heard about it.Times have changed. Today experts debate whether bitcoin can be considered digital gold, discussing its demonstrated ability to preserve value over time and hedge against inflation and devaluation of national currencies. As crypto matures and gains mainstream acceptance, some of the world’s top investment firms race to gain exposure to BTC, providing an influx of capital that contributes to further stabilizing the asset. Clearly, bitcoin’s volatility has declined and is expected to continue doing so.A recent study on the subject found that in late 2023, Bitcoin was less volatile than 92 S&P 500 stocks. In other words, if bitcoin is indeed “too volatile” to be a reliable investment, close to 20% of S&P 500 stocks would also be below this imaginary standard. Final thoughtsBiases like the anchoring effect can play a big role in shaping our perceptions and beliefs, often leading to misconceptions that can be hard to shake, even in the face of contrary evidence. This applies to everyday myths like goldfish memory or brain usage; it also influences how people view complex topics like cryptocurrencies. By understanding and acknowledging these biases, we can make more informed decisions and foster a more accurate understanding of the world around us.So, the next time you hear someone dismissing digital assets as having no intrinsic value or labeling bitcoin as too volatile, remember that these views might just be anchored in outdated or incomplete information. Keeping an open mind and questioning our initial assumptions can help us navigate the dynamic landscape of crypto with greater clarity. After all, in the world of digital assets, it's always worth diving deeper than the surface to uncover the true value beneath.There’s a wealth of information on all kinds of crypto topics to be found on Binance Academy — our open-access learning hub providing free blockchain education. Plus, stay tuned for more entries in our Science Behind Crypto Misconceptions series!Further ReadingA Portrait of the Crypto Owner: What Do We Know about Web3’s Early MajorityBlockchain in the Modern Payments Landscape: Synergy and TransformationThe Role of Digital Assets in Investment Portfolios

Main Takeaways In 2024, Binance honored Selçuk Aydin with the Social Advocate Award, acknowledging his dedication to making cryptocurrency accessible to the hearing-impaired and his role in bridging the gap between the deaf community and the crypto world.Aydin has created the world's first crypto-specific YouTube and Telegram resources for Turkish deaf users, translating complex crypto concepts into Turkish Sign Language, allowing the hearing-impaired to navigate the Binance ecosystem and the wider crypto space with ease.The work of Selçuk Aydın stands as an example that true progress is not measured by the breakneck speed of innovation, but by how many people, including those previously excluded, can we bring along on the journey toward the future.On Selçuk Aydın’s Youtube channel, much like on countless other crypto educational resources, you will find scores of videos explaining cryptocurrency-related concepts and how to use different Binance’s tools and features. However, there is one thing that sets Selçuk’s channel apart: the videos use sign language to communicate these ideas. In the background of the video, there are often slides taken from Binance Academy in Turkish language, and superimposed in the foreground, Selçuk animating the video with sign language gestures. The channel represents a very niche content stream created for Turkish crypto users, who have hearing difficulties.  Aydin's Youtube ChannelAydın’s work is not limited to videos. On his Telegram group called BinanceTurkish Sign Language, which has close to 1,500 members, you can find people discussing cryptocurrency education for the hearing-impaired. They support each other and answer questions from deaf users who run into trouble using Binance platform or performing cryptocurrency transactions due to communication barriers. Aydın and his team often help translate users’ questions, needs, and requests to the Binance’s Customer Service team and assist them in resolving issues together. Aydin's Telegram ChannelA Social Advocate Among AngelsSelçuk Aydin, who is hearing-impaired himself, has run the world’s first crypto-specific YouTube and Telegram resources for Turkish deaf users for three years now. In recognition of his tireless dedication to championing the interests of his fellow users, in 2024, he was honored by Binance with a Social Advocate Award.The award is given as part of the larger Binance Angels Award program. Harika Eldoğan, Marketing Director of Binance Turkey, noted that Binance annually honors the invaluable contributions of its volunteer community ambassadors, known as Binance Angels, and recognises outstanding individual efforts with special prizes. "This year, we proudly recognized 15 outstanding community ambassadors worldwide with special awards. Among them, Selçuk Aydın, who is one of Binance Angels, is doing very valuable and important work by creating content to explain the Binance ecosystem to the hearing-impaired in Turkey. We are very happy to reward Aydın for his successful work," she said.Selçuk Aydın’s journey into the world of cryptocurrency began like many others, his curiosity piqued by conversations among friends around 2013 or 2014. As he delved deeper into the world of digital assets, he quickly realized that something was missing. While Binance had a wealth of informational resources, there was a glaring gap: support for the hearing-impaired.For Selçuk, who was born hearing-impaired but can communicate thanks to hearing aids and his fluency in Turkish Sign Language, the digital world presented both opportunities and challenges. While the doors of crypto were wide open, the information was not as accessible as it should have been for those in the deaf community. Aydın set out on a mission to make the world of crypto not just accessible, but understandable and inclusive for others who are hard of hearing.More Than a Place to TradeOn Binance, Aydin found in the platform something more than just a place to trade; he found a community. Three years ago, he decided to join the Binance Angels, a group of volunteers dedicated to supporting and educating Binance users around the world. As a Binance Angel, he took on the challenge of translating complex crypto concepts into Turkish Sign Language, making it possible for many hearing-impaired users to not only participate in the crypto world but to thrive in it. Binance’s 2024 recognition of Selçuk Aydın with the Social Advocate Award is a profound testament to his remarkable achievements. This accolade not only honors his dedication to making the crypto world more accessible but also highlights the impact one individual can have in bridging gaps and fostering inclusivity.Selçuk’s work has set a new standard in the crypto community, showing everyone else that true innovation lies in creating spaces where everyone can participate and thrive. In the crypto ecosystem, accessibility is not just a feature; it is a necessity. It is the difference between exclusion and inclusion, between isolation and community. If you are inspired to join the Binance Angel program and eager to make a positive contribution to your community, click here.Further ReadingEvolving Crypto Through Sign Language: Life as a Binance AngelBinance Angel Awards 2024: Highlighting Remarkable AchievementsMeet Our Longest Serving Binance Angel: Life as a Binance Angel

Main TakeawaysTraditional financial institutions, family offices, and even non-financial public companies are recognizing the value of digital assets as part of their investment portfolios.The inclusion of cryptocurrencies like BTC and ETH in a diversified portfolio offers a means to potentially boost returns while mitigating risks associated with market volatility.Data show that even a small allocation to crypto can enhance a portfolio’s performance by improving the risk/return trade-off.The recent wave of second-quarter 13F disclosures by U.S. financial institutions revealed that some Wall Street investment giants have significantly increased their exposure to cryptocurrencies. Specifically, Goldman Sachs and Morgan Stanley reported purchasing over $600 million in spot bitcoin ETFs, marking a significant uptick from the previous quarter. This move is part of a broader trend where traditional financial (TradFi) institutions, family offices, and even non-financial public companies are recognizing the value of digital assets as part of their investment portfolios.The rise of cryptocurrencies is no longer a trend confined to tech enthusiasts and retail investors. Digital assets are now being embraced by some of the most conservative and risk-averse entities in the financial world. This shift is a testament to the evolving perception of digital assets, which are now being viewed as a viable and strategic component of diversified portfolios. Here’s what attracts them to an asset class that would be unthinkable to see in their portfolios just a few years ago.The Qualities of Crypto as an InvestmentCryptocurrencies offer unique qualities that make them an attractive investment option, as well as a way to diversify a portfolio. Considered a risk-on asset, crypto and related products are sensitive to macroeconomic trends. For example, the market downturn last month saw some investors retreat from riskier assets, while the anticipated change in the U.S. Federal Reserve’s monetary policy is widely expected to boost investor interest in digital assets.Over the last few years, the perception surrounding crypto has shifted significantly, transitioning from that of an obscure and overlooked asset class to one of the hottest Wall Street trends. This shift has been underscored by major regulatory milestones, such as the SEC's approval of spot BTC and ETH ETFs earlier this year, significantly enhancing crypto’s legitimacy.Granted, asset managers and capital allocators remain heavily concentrated in traditional investments. For example, the UK asset management Industry, which manages nearly £8.8 trillion in assets, invests predominantly in equities and fixed income, comprising 42.4% and 28.1% of the total, respectively. Yet, there is a growing recognition of the benefits that assets like bitcoin and ether can bring to investment portfolios.Historical data referenced in a CCData report suggests that these crypto assets can provide high risk-adjusted returns and exhibit low correlation with public equities. This unique combination can not only improve portfolio returns but also enhance diversification. Based on the risk/return trade-off over the past year, BTC and ETH demonstrated strong performance, offering attractive alternatives to traditional investments. What this means in practice is that the inclusion of blue-chip cryptocurrencies like BTC and ETH in a diversified portfolio offers a means to potentially boost returns while mitigating risks associated with market volatility.The same analysis reveals that portfolios incorporating cryptocurrencies have the potential to achieve higher risk-adjusted returns and benefit from greater diversification and reduced volatility. For example, a portfolio optimized to include digital assets could achieve an annual return of 17.5% with lower annualized volatility of 6.25%, compared to a portfolio without digital assets, which exhibited an annualized volatility of 7.46% for the same return. This demonstrates that even a small allocation to crypto can enhance a portfolio’s performance by improving the risk/return trade-off while giving investors more opportunities to achieve optimal portfolio configurations that align with their risk tolerance and return expectations.Diverse Players in the Crypto Investment SpaceThe increasing involvement of financial institutions like Goldman Sachs and JPMorgan is just the tip of the iceberg. Family offices, which traditionally manage the wealth of ultra-high-net-worth individuals, are also venturing into the crypto space. According to the inaugural Family Office Investment Insights report by BNY Mellon, cryptocurrencies now account for 5% of family office portfolios — an allocation that would have been unimaginable a decade ago. Furthermore, 33% of family office professionals indicate that they are actively investing in cryptocurrencies and may increase their holdings, while 30% claim to have limited exposure or are currently exploring these assets.With the regulatory environment around digital assets still taking shape, the lack of regulatory certainty and harmonization still acts as a significant barrier to investment. However, as the regulatory space becomes more structured thanks to regulatory efforts such as the EU’s MiCA regulation and ETF approvals in the United States, we can expect the entry of more and more institutions and capital.Crypto on Corporate Balance Sheets: A Strategic MoveIt's not just financial institutions that are increasingly interested in crypto; several public companies outside the financial sector are also holding digital assets on their balance sheets. Companies like MicroStrategy and Block, formerly known as Square, have made headlines for their substantial BTC holdings. These companies view crypto not just as an investment, but as a strategic reserve that can enhance corporate treasuries and provide liquidity options in uncertain economic times.MicroStrategy was the first public company to make a substantial allocation to bitcoin, starting with a first $250 million investment in 2020 and adopting it as its primary treasury reserve. Today,  MicroStrategy holds 226,331 BTC, with a total value close to $14 billion. This investment represents a significant part of the company's financial strategy and illustrates its commitment to bitcoin as a primary asset.The company's approach involves utilizing proceeds from capital market activities and excess cash reserves to fund these purchases. This strategy aims to generate a positive “BTC yield,” a key performance indicator that measures the effectiveness of its bitcoin investments. This metric reflects the difference between the current market value of BTC and MicroStrategy’s purchase price. By mid-2024, the BTC yield stood at 12.2%, highlighting substantial gains relative to their acquisition costs.Block, Inc., under CEO Jack Dorsey’s leadership, made its first major bitcoin investment of $50 million – approximately 1% of its total assets at the time – in 2020. This move was part of a broader strategy that aligns with Block's mission of fostering economic empowerment and supporting a more inclusive financial system. Today, Block's BTC holdings are valued at approximately $518 million, reflecting the importance of bitcoin in its long-term financial strategy.​​These corporate moves into Bitcoin are driven by a variety of motivations. Some companies view cryptocurrencies as a hedge against the devaluation of fiat currencies, while others are attracted by the potential for substantial long-term capital appreciation. Companies like Block and MicroStrategy have seen the value of their Bitcoin holdings surge, significantly outperforming traditional cash reserves, which have shown minimal appreciation after adjusting for inflation.The Future of Crypto in Investment PortfoliosAs the adoption of digital assets continues to grow, we may see an even broader array of players entering the space. The idea of including cryptocurrencies in sovereign wealth funds, for instance, is gaining traction. Notably, Norway's sovereign wealth fund, the world's largest, has significantly increased its indirect bitcoin holdings this year. By mid-2024, the fund held approximately 2,446 BTC, reflecting a 62% increase over six months, mainly through increased stakes in crypto-related companies like MicroStrategy and Block, Inc., marking a significant shift in how national governments view and utilize digital assets as part of their broader investment strategies.Meanwhile, global interest in cryptocurrencies among sovereign wealth funds continues to build. Funds from countries like Singapore and the UAE have explored investments in the crypto sector, viewing digital assets as a potential hedge against inflation and an opportunity for portfolio diversification. The increasing institutional and corporate interest in cryptocurrencies underscores a broader trend: digital assets are becoming a mainstream component of modern investment portfolios. As the financial landscape continues to evolve, the role of cryptocurrencies is likely to expand, offering new opportunities for diversification, growth, and risk management.Further ReadingBlockchain in the Modern Payments Landscape: Synergy and TransformationBinance Research: Key Trends in Crypto – August 2024ETH’s Historic Week on Binance: Record-Breaking Candles and Strong Inflows