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Binance, one of the world&#8217;s largest cryptocurrency exchange platforms, will collaborate with Gulf Energy Development, a leading energy company in Thailand, to launch Gulf Binance, a crypto exchange platform in Thailand.



According to Gulf Energy&#8217;s filing with the Stock Exchange of Thailand on November 15, Gulf Binance will initially operate on an invitation-only basis, with plans for a public launch in early 2024.



The Securities and Exchange Commission of Thailand approved the venture on November 10. Gulf Binance obtained digital asset operator licenses from the Ministry of Finance on May 26, enabling it to run a crypto exchange under the supervision of the SEC. Binance had planned to launch its Thai division by the end of 2023.



Richard Teng, who serves as Binance&#8217;s regional head for Asia, Europe, and MENA, has recently commented on the partnership with Gulf Energy. He emphasized the strategic value of Gulf Energy&#8217;s strong local presence and network.



Gulf Energy, led by Thai billionaire Sarath Ratanavadi, is a prominent player in Thailand&#8217;s natural gas distribution industry. The company is known for its diversified investment portfolio, which spans various sectors, such as renewable energy production, infrastructure development, and digital infrastructure ventures.



Gulf Binance&#8217;s digital asset platform is expected to provide digital asset exchange and broker services for cryptocurrencies and digital tokens, prioritizing security and compliance with SEC regulations.



Scams and raised concerns have hindered the growth of cryptocurrency in Thailand. Binance has played a key role in assisting Thai law enforcement in dealing with these issues. The exchange was crucial in two major operations against cryptocurrency fraud in the country.



Binance also helped disrupt a large transnational cryptocurrency fraud network, which led to multiple arrests and the seizure of valuable assets and cash.



Tigran Gambaryan, Binance&#8217;s Head of Financial Crime Compliance, emphasized the global scope of their security measures, highlighting the significance of overcoming geographical barriers in ensuring security.



The partnership between Binance and Gulf Energy is a significant step in Thailand&#8217;s evolving regulatory environment for cryptocurrencies, and it is expected to bring about a more crypto-friendly approach from the new government.

Binance x Gulf Energy

Crypto

Binance Intends To Launch Crypto Exchange in Thailand

The world&#8217;s leading crypto exchange, Binance, announced the launch of its new Web3 wallet at the Binance Blockchain Week conference in Istanbul. The wallet will be available to all users through the Binance mobile app.



To make things easier, Binance&#8217;s Web3 wallet is now integrated into the main Binance app mainly used for cryptocurrency trading. The wallet utilizes multiparty computation (MPC) to divide a user&#8217;s private keys into three smaller parts, called key shares.



During the launch, Changpeng &#8220;CZ&#8221; Zhao, CEO of Binance, revealed the intent behind launching the service: &#8220;Web3 wallets represent more than just storing digital assets — they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance. Having the key shares split across three locations mitigates the risk of compromised keys and reduces the system&#8217;s vulnerability.&#8221;



Users will always have control over two of the three key shares, enabling them to achieve self-custody. A Binance spokesperson has confirmed that the Binance Web3 Wallet is not available to US users since Binance.com does not operate in the US.



Zhao has emphasized that Binance&#8217;s Web3 Wallet reduces barriers to achieving full self-custody of assets and represents an important and convenient bridge toward DeFi empowerment. According to the crypto exchange, its top priority is ensuring users can explore Web3 with us in a user-friendly and secure environment.



Binance has expanded its services to include other crypto-related offerings. This move comes as their spot trading business appears to be struggling to retain investors.



A blockchain analytics firm 0xScope report revealed that Binance&#8217;s spot trading market share had declined to 40% in 2023. The researchers noted that Binance&#8217;s spot trading volume has significantly decreased in the past year, which may be due to its listing strategy. Most popular coins experienced a downturn immediately after being listed on Binance.

Binance

Web3

Binance Launches Web3 Wallet for Its Users

Recently, Binance, the leading cryptocurrency exchange, has announced that it will extend its help to the victims of the massive earthquake that hit Morocco on September 8.



The earthquake caused over 2,000 fatalities in Marrakech, the fourth-largest city in Morocco. Binance has pledged to donate millions of dollars in BNB as aid relief to the affected people. As per the announcement made on September 11, Binance will airdrop up to $3 million in BNB to users residing in the affected areas. The earthquake was of magnitude seven on the Richter scale, which indicates it was &#8220;major.&#8221;



Changpeng Zhao, the founder and CEO of Binance, expressed his condolences and sympathy towards the Moroccan people, calling the earthquake &#8220;devastating.&#8221;



He also called on unaffected users to distribute funds to those in need., saying: &#8220;For Moroccan users who receive these donations but are unimpacted by the earthquake, we ask them to pass the funds on to those most in need.&#8221;



Binance noted that it will use a proof-of-address protocol to identify users residing in the Marrakech-Safi province, which suffered the most damage from the disaster. These users will receive $100 worth of BNB directly into their Binance accounts.



For Moroccan users living outside this area, Binance will provide $10 in BNB each through an airdrop. The aid program is expected to benefit almost 70,000 Binance users in the country starting September 12.



To provide additional aid, Binance has also created a public wallet address that accepts contributions in various cryptocurrencies, including BNB, Bitcoin, Ether, USD Coin, Tether, and Binance USDC.



This is not the first time Binance has launched such an aid program. In March, the company provided $100 worth of BNB tokens to support those affected by intense earthquakes in the Turkey-Syria border region. Cryptocurrency has become increasingly popular for providing disaster relief and charitable donations.

Morocco’s Earthquake

Binance Announces Aid Worth of $3 Mln in BNB for Morocco’s Earthquake Victims

Binance, a leading cryptocurrency exchange, has announced that it will no longer support Polygon Network on its NFT platform.



As a result, users are advised to withdraw their Polygon NFTs from the Binance NFT Marketplace before the end of the year. Effective September 26, Binance’s NFT marketplace will stop supporting Polygon NFTs. This means that users can no longer purchase or list Polygon NFTs on Binance’s platform.



According to a statement from Binance, any affected listings will be canceled. Users with Polygon NFTs on the Binance NFT Marketplace should withdraw them via the Polygon Network before December 31, 2024. Binance is also discontinuing its NFT staking program for The Sandbox, which means users won’t be able to stake LAND NFTs on Polygon to earn rewards after September 26.



Binance stated that this decision was made after conducting a thorough assessment and is part of their efforts to simplify their product offerings on Binance NFT Marketplace. The Sandbox NFT collection is one of the most popular NFT collections on Binance’s marketplace. It currently has a minimum price of 899.15 MATIC (equivalent to $494) and a total trading volume of 20.2 million MATIC (approximately $11.1 million).



Following the discontinuation of Polygon support, Binance NFT will continue to support three blockchains: BNB Chain, Ethereum, and Bitcoin.



The recent changes made by Binance NFT Marketplace received a mixed reaction from the crypto community. While most users on X (formerly Twitter) seemed unfazed by the changes, a few were against the decision to withdraw support for Polygon Network. According to CoinMarketCap, the announcement caused a decrease of over 4% in the value of Polygon&#8217;s native token, MATIC.

Binance NFT Marketplace

Binance NFT Marketplace Stops Supporting Polygon Network

Binance, a prominent blockchain infrastructure provider and cryptocurrency ecosystem, has introduced its futures products in Bahrain.



The company has obtained regulatory approval to offer these products to eligible users in the region. Binance Bahrain BSC is the first exchange in the region to provide these services, and it holds a CAT4 license.



A thorough regulatory examination and consultation phase were carried out before the launch of these products. Binance Bahrain BSC, which runs the regulated Binance Bahrain platform, has met the required compliance and governance standards to provide futures products in a regulated manner.



Local users who meet the requirements must complete and pass a mandatory suitability assessment questionnaire to access the products.



<a href="https://upyo.com/en/news/tags/binance">Binance</a>&#8216;s futures products are utilized by users worldwide for liquidity and hedging, offering low slippage and highly competitive prices. Binance is a leading global market for digital assets, with high volume in both spot and futures trading, as well as deep order book depth.



In this regard, General Manager of Binance Bahrain Tameem Al-Moosawi said: &#8220;We are pleased to be able to offer crypto futures to our users and meet market demand for liquidity products. We want to take the opportunity to express our gratitude to the Central Bank of Bahrain for their consultation that has allowed us to bring to market these products in a regulated manner. Binance is committed to compliance and its users, and we are focused on building the local digital assets ecosystem that is sustainable for the long-term.&#8221;



It is worth mentioning that Binance Bahrain obtained a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB) in May 2022.

Binance Bahrain

Binance Bahrain Introduces Crypto Futures Products

World&#8217;s biggest cryptocurrency exchange Binance suspended its crypto debit card services in Latin America and the Middle East from August 25.



These debit cards functioned like regular debit cards, except cryptocurrency assets funded them. The suspension is expected to last until September 21, following which the services in these regions will be terminated. However, users can still process refunds and disputes until December 20, 2023.



Recently, a user on X (formerly Twitter) inquired about issues with crypto debit cards in Colombia. <a href="https://upyo.com/en/news/tags/binance">Binance</a> responded to the query by announcing that debit card services will be suspended starting August 25.



However, they did not clarify what led to the decision. Binance announced its plan for crypto-backed debit cards in April 2020 to enter the global payment market. By July 2020, the crypto debit cards were being shipped to European countries and other parts of the world.



Later, the crypto exchange partnered with payment processor Swipe to offer crypto debit cards in the United States. Binance claims that only less than 1% of users in the affected markets will be impacted by this decision.



In a statement, Binance said: &#8220;This recent announcement follows a concerted effort by the crypto exchange to refocus its core products. A similar decision was reached by the crypto exchange when it pulled support for another of its crypto payments services, Binance Connect. The service, rolled out last year, was designed to allow companies in the traditional market to adopt crypto payments for their services.&#8221;



Recently, Binance has collaborated with crypto startup MoonPay following the termination of ties between U.S. banks and the crypto exchange. The partnership with MoonPay enables Binance.US customers to easily convert their fiat currencies to USDT.

Binance Halts Its Crypto Debt Card in Middle East, Latin America

World&#8217;s leading cryptocurrency exchange Binance has announced that it has been granted a license to offer its services to the residents of El Salvador to become the first licensed crypto exchange in the Latin country.



In an announcement, Binance said it had received regulatory approval from El Salvador&#8217;s Central Reserve Bank for a Bitcoin Services Provider license and a non-provisional Digital Assets Services Provider license from the country&#8217;s National Commission of Digital Assets. This approval will enable Binance to provide customized crypto-related products and services in Latin America.



In this regard, Binance&#8217;s Head of Latin America, Min Lin, revealed that the exchange took several months to finalize the licensing process. This was in response to El Salvador&#8217;s decision to recognize Bitcoin as a legal tender in 2021, which was championed by President Nayib Bukele, who is supportive of cryptocurrency. The country passed the Bitcoin Law to make this official alongside the US dollar.



This month, Binance also became the first crypto exchange in the world that obtain the Operational Minimum Viable Product (MVP) license from Dubai&#8217;s Virtual Assets Regulatory Authority (VARA). The MVP license will allow Binance to initially provide crypto-related services approved by the emirate, including exchange and broker-dealer services — to institutional and qualified retail investors. Binance was permitted by VARA to conduct virtual asset exchange and virtual asset broker-dealer services in Dubai.



Moreover, It also announced that it would begin to offer its crypto services to users from August onwards. It is worth mentioning that the company acquired the local exchange platform Sakura Exchange Bitcoin (SEBC) in November 2022, a matter which paves the way for the reentry of Binance in the country.

Binance in El Salvador

Binance Granted License To Offer Crypto Services in El Salvador

A scam targeting the cryptocurrency community has been on the rise, and Binance CEO Changpeng &#8220;CZ&#8221; Zhao recently warned his followers about it on a social media platform, X (formerly known as Twitter), according to Cointelegraph.



The scam involves fake wallet addresses being used to defraud users during transactions. Scammers generate addresses that start and end with the same characters as the user&#8217;s original address. To execute the scam, the scammer sends the target small transactions that appear on the victim&#8217;s transaction history. If the victim copies and pastes an address from one of these transactions, the funds will be sent to the scammer. Beware of this scam and always double-check wallet addresses before making transactions.



On August 1, a skilled crypto operator reportedly became a victim of a scam and sent cryptocurrencies worth $20 million to a dust address, as per CZ&#8217;s statement. However, the operator realized the mistake immediately and requested Binance to halt the Tether before it could reach the scammer.



One way to avoid falling for a scam is by using a blockchain domain, like the Ethereum Name Service. These domains are similar to email addresses and enable users to identify their wallets using regular words instead of a complex combination of letters and numbers. If you&#8217;re a <a href="https://upyo.com/en/news/tags/binance" target="_blank" rel="noreferrer noopener">Binance</a> user, you can buy these domains directly through the platform.



It is not recommended by security specialists for users to copy and paste addresses from applications when transferring funds. Additionally, it is important for users to create strong and unique passwords for their crypto accounts and enable two-factor authentication on applications.



Coinbase users have reported experiencing similar security issues such as scams and phishing attacks associated with the company&#8217;s services and applications. Some victims have reported that scammers are reaching out to clients using the domain name of the cryptocurrency exchange.

Binance Zhao

Binance CEO Warns of New Crypto Scam

In spite of a ban on crypto trading in China, Binance users in the country traded digital assets worth $90 billion in just one month, as per a report from the Wall Street Journal.



According to the report, China is Binance&#8217;s largest market, accounting for 20% of the company&#8217;s global volume, excluding trades made by a select group of large traders.



The report does not specify the month in which these transactions occurred. Binance originated in China but withdrew from the mainland during a regulatory crackdown in 2017. The Journal cites internal figures, as well as current and former employees of the exchange.



A spokesman for <a href="https://upyo.com/en/news/tags/binance" target="_blank" rel="noreferrer noopener">Binance</a> confirmed that the website is currently inaccessible to users in China. Additionally, Binance has faced investigations from US regulatory bodies such as the Commodity Futures Trading Commission and the Securities and Exchange Commission.



The CFTC claims that Binance operated an illegal exchange and had a non-compliant compliance program, while the SEC accuses Binance and its CEO Changpeng Zhao of falsely inflating trading volumes, mishandling customer funds, failing to prohibit US customers from using the platform, and providing misleading information about its market surveillance measures.



Binance is currently preparing to make a powerful entry into the Japanese market. Initially, they plan to offer 34 tokens, including their native coin BNB, which will be accessible in Japan for the first time. This move shows that Binance Japan will have more tokens available than any local competitor. The new Japanese clients will have access to the NFT marketplace, earn products, and spot trading.



In November 2022, Binance acquired Sakura Exchange BitCoin in its entirety, which allowed it to be regulated by the Japan Financial Services Agency.

Binance’s Trading Volume in China Recorded $90 Bln Despite Ban

The leading cryptocurrency exchange Binance announced it became the first crypto exchange in the world that obtained the Operational Minimum Viable Product (MVP) license from Dubai&#8217;s Virtual Assets Regulatory Authority (VARA).



According to a press release by Binance, the MVP license will allow Binance to provide crypto-related services, approved by the emirate, including exchange and broker-dealer services — initially to institutional and qualified retail investors. Binance was permitted by VARA to conduct virtual asset exchange and virtual asset broker-dealer services in Dubai. These services are only available to institutional and qualified retail investors.



<a href="https://upyo.com/en/news/tags/binance" target="_blank" rel="noreferrer noopener">Binance</a>&#8216;s securing of the MVP license came after it had successfully secured the provisional MVP license in March 2022 and a preparatory MVP license in September 2022.



&#8220;This landmark development underscores our dedication to building a compliant exchange in partnership with local regulators and within Dubai&#8217;s unique regulatory framework for Virtual Asset Service Providers (VASPs),&#8221; Binance said.



In this regard, Head of Regional Markets at Binance Richard Teng noted: &#8220;Our priority is to be able to operate this first fully regulated exchange in, and from Dubai, in a FATF-compliant ecosystem, setting the stage for global scalability with uncompromised user assurance.&#8221;



Meanwhile, Binance Dubai’s General Manager Alexander Chehade pointed out that Dubai positioned itself as a <a href="https://upyo.com/en/news/tags/dubai-crypto" target="_blank" rel="noreferrer noopener">global crypto hub</a> over the past few years, expressing his excitement about growing his company&#8217;s operations in Dubai.



Cointelegraph clarified to invest in Binance Dubai, an individual must have the designation of a &#8220;qualified retail client.&#8221; Those who are eligible must be at least 21 years old and able to provide evidence of having 500,000 <a href="https://upyo.com/en/news/tags/uae-crypto" target="_blank" rel="noreferrer noopener">United Arab Emirates</a> dirhams ($136,000) in net liquid assets. This evidence can be in the form of bank statements and proof of funds.

Binance Dubai

Dubai Regulatory Grants Binance MVP License To Offer Crypto Services

Binance, the world&#8217;s largest cryptocurrency exchange, decided to withdraw its application from Germany after reports about rejections from the German regulator, according to Cointelegraph.



The German Federal Financial Supervisory Authority (BaFin) reportedly rejected Binance&#8217;s custody license. Binance, for its part, said it would reapply again for the license in Germany and the withdrawal came within its efforts to focus on becoming compliant with the European Union’s Markets in Crypto-Assets (MiCA) framework.



A Wall Street Journal report claimed that the BaFin urged <a href="https://upyo.com/en/news/tags/binance" target="_blank" rel="noreferrer noopener">Binance</a> to withdraw its application amid concerns raised against its CEO Changpeng Zhao and the company’s structuring, a story which was refuted by a Binance spokesman. BaFin reportedly told the crypto exchange that its structure hampered regulatory supervision.



The spokesman said that the Wall Street Journal&#8217;s story is not accurate, adding: &#8220;Binance confirms that it has proactively withdrawn its BaFin application. The situation, both in the global market and regulation, has changed significantly. Binance still intends to apply for appropriate licensing in Germany, but it is essential that our submission accurately reflects these changes.&#8221;



It is worth mentioning that Binance is facing legal actions brought by the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) for allegedly violating securities laws and trading guidelines, respectively. Also, Binance called for the CFTC lawsuit dismissal.



Moreover, The Belgian Financial Services and Markets Authority (FSMA) has ordered Binance to halt all its crypto-related services immediately.



“The FSMA has therefore ordered Binance to cease, with immediate effect, offering or providing any such services in Belgium,” the statement read.



FSMA attributed the order to that Binance is not a member of the European Economic Area, so it is prohibited from offering or providing, within Belgium, in addition to violating the Belgian Law on the prevention of money laundering and terrorist financing.

Binance Withdraws License in Germany, Intends To Reapply Again

Binance Academy, the educational arm of the world’s leading cryptocurrency exchange Binance, announced it has launched new intermediate online courses following the success of the beginner track, which was launched in late 2022 and saw the attendance of 170,000 learners.&nbsp;



&nbsp;The intermediate track includes six comprehensive courses on NFTs, cryptocurrencies, blockchain, DApps, DeFi, and crypto trading. Each course, which should be completed within 60 to 90 minutes, includes interactive quizzes and insightful reading materials.&nbsp;



The first course, named &#8220;Blockchain Deep Dive&#8221;, is already available in English. Additional five courses are expected to be available in multiple languages within the coming months. It is worth mentioning that Binance Academy&#8217;s courses and learning resources are free of charge in line with the academy&#8217;s goal to make crypto education accessible to all.&nbsp;



In this regard, <a href="https://upyo.com/en/article/over-90-of-global-finance-leaders-believe-blockchain-to-have-remarkable-impact-on-business-within-3-years" target="_blank" rel="noreferrer noopener">Binance</a> co-founder and Chief Marketing Officer Yi He asserted the importance of educating more people about the Web3 sectors, saying: &#8220;The Web3 sector is maturing rapidly. That’s why we think it’s so important to equip people with the necessary knowledge – it’s a mission we take to heart at Binance Academy. As the industry leader, we are committed to driving innovation not just through our technology but also by making education accessible to all.&#8221; 



After completing the courses, learners will receive Certificates of Achievement in PDF and NFT formats. These NFTs can be shared on the learners&#8217; resumes on social platforms, giving them a unique form of recognition for their accomplishments in the crypto space.&nbsp;



Earlier this month, Binance Academy signed an agreement with Coursera to collaborate on developing certified Web3 educational programs. The programs will cover a broad range of Web3 and blockchain topics, tailored to foundational and professional certifications.

Binance Academy

Binance Academy Offers Intermediate Online Courses To Enhance Web3 Education

The Turkish capital of Istanbul is expected to host the Binance Blockchain Week conference on November 8 to 9.&nbsp;



According to Bitcoin News, Binance Blockchain Week will gather innovative leaders and firms to discuss ways to more developing and adopting the blockchain and Web3. The event aims to tackle how to utilize Web3 and its related technologies to empower the next billion people to improve their lives. 



The conference is expected to host more than 100 prominent leaders, innovators, and influencers with expectations of over 2,000 attendees. In addition, the event will be aired virtually through&nbsp;<a target="_blank" href="https://www.binance.com/en/live" rel="noreferrer noopener">Binance Live</a>’s stream. It also includes exhibitions and workshops on building businesses and creating successful blockchain-based projects.&nbsp;



In this regard, Co-Founder and Chief Marketing Officer at <a href="https://upyo.com/en/news/tags/binance" target="_blank" rel="noreferrer noopener">Binance</a> Yi He said: &#8220;We look forward to hosting the global community and innovators at Binance Blockchain Week. Our objective is to continue building the Web3 and blockchain industry together, expanding on its potential to improve financial equity and positively impact society overall.&#8221; 



Yi Hi lauded Turkey as a strong backbone of the global crypto ecosystem as it has one of the world&#8217;s highest crypto adoption rates, in addition to being a hub for embracing the future of blockchain in the presence of traditional finance.&nbsp;



&#8220;It’s a dynamic destination for attendees to learn more about blockchain and be part of the new era of finance as we gather in a leading region of innovation to build for the future of the industry together,&#8221; he added.&nbsp;



It is worth mentioning that Turkey is the world&#8217;s second country in terms of the share of adults that trade crypto once a month.&nbsp;

Istanbul Blockchain Week

Blockchain

Istanbul To Host Binance Blockchain Week in November

Binance Labs, the venture capital and incubator arm of Binance, decided to invest $15 million in <a href="https://upyo.com/en/news/blockchain" target="_blank" rel="noreferrer noopener">blockchain</a> gaming platform Xterio.



The $15 million investment from <a href="https://upyo.com/en/news/tags/binance">Binance Labs</a> will be utilized for game and technology development, with plans to explore AI potential in its game titles, according to the Cryptopolitan website.



Xterio is the publisher behind upcoming NFT and crypto games like Age of Dino and Overworld. It labels itself as a free-to-play-and-own game through which players can earn NFTs by playing its games. Therefore, Xterio believes that the deployment of blockchain technology would enhance the gaming experience.



&#8220;We believe that blockchain technology makes for a better gaming experience. And player ownership is a key aspect of every Xterio game,&#8221; Xterio said.



The startup supports the development of 11 games across different platforms, ranging from mobile Japanese role-playing games (RPGs) like Blackdawn to massively multiplayer online (MMO) PC games such as Blocklords and the RPG Abyss World.



Binance Labs revealed that Xterio seeks to develop an “emotion engine for artificial intelligence.” Xterio’s AI toolkit also aims to generate 2D and 3D game assets for developers. The startup is also using its AI tech to develop the digital companion game AIpal, which is slated to launch a closed beta later this year.



Binance Lab&#8217;s investment into Xterio shows that it pays the crypto gaming sector as the firm believes that blockchain gaming is a crucial area for application layers. Binance Labs also said that its investments are “chain and sector agnostic.



Last August, Xterio secured a $40 million investment from FunPlus, XPLA, and FTX Ventures (now defunct).

Binance Labs and Xterio

Binance Labs Invests $15 Mln in Blockchain Gaming Platform Xterio

The world&#8217;s leading cryptocurrency exchange Binance launched its first metaverse show, called &#8220;Build The Block&#8221; through its VC arm, Binance Labs.&nbsp;



<a href="https://www.binance.com/en/news/flash/7545427" target="_blank" rel="noreferrer noopener">In a press release,</a> Binance&#8217;s Build The Block is a new global digital series in which Web3 start-ups compete for getting investments from Binance Labs. Build The Block is the first show of its kind and Binance&#8217;s first entry into the metaverse.



The global digital series will witness the competition of 12 Web3 startups, which are set to impress a live audience and a panel of judges. The panel of judges includes Co-founder and CMO of Binance and Head of Binance Labs Yi He, Chief business officer of Binance Yibo Ling, Co-founder of Coin Bureau Guy Turner; Azeem Khan, a member of the World Economic Forum&#8217;s Crypto Sustainability Coalition and fundraising and partnership lead at Gitcoin; and CEO of Animoca Brands and partner at Animoca Capital Robby Yung.&nbsp;



The first episode will commence on Binance Live and Binance&#8217;s official YouTube account at 22:00 (UTC+8) on May 12. It will be hosted by Justin Bratton, host of Asia&#8217;s Got Talent.&nbsp;



In this regard, Yi He said: &#8220;&#8216;Build The Block&#8217; is Binance&#8217;s latest innovative experiment – to create the industry&#8217;s first metaverse investment competition. This initiative has attracted a large number of Web3 entrepreneurs and builders to participate and showcase their projects.&#8221;



&#8220;We hope that such a platform can encourage everyone to innovate further. We believe in the potential of the metaverse and blockchain technology and will continue to empower innovators to create the future of the internet,&#8221; he added.&nbsp;



The seven episodes will be live on Tuesday and Friday. The event is organized in partnership with Build Lifeform, a pioneering technology solution provider for web3 virtual human avatars.&nbsp;

Build The Block Binance

Metaverse

Binance Rolls out ‘Build The Block’ for Web3 Startups Competition

World&#8217;s prominent cryptocurrency exchange Binance decided to deploy artificial intelligence into its education platform to help users to get AI-generated answers about Web3.



<a href="https://www.binance.com/en/blog/ecosystem/introducing-binance-sensei-your-aipowered-web3-mentor-5277316484781675461" target="_blank" rel="noreferrer noopener">In a press release</a>, Binance said it is integrating ChatGPT into its education platform, Binance Academy, launching a new AI-driven tool named the &#8220;Binance Sensei.&#8221;



According to the press release, Binance pointed out that the launch of Binance Sensei came to evaluate the way that the users explore and interact with its educational content to create a more engaging process. Users, whether they are beginners or experts, can get easy-to-understand responses sourced from Binance Academy&#8217;s educational content by just entering questions or keywords in the chat window.



After typing the question, users will get a concise, approximately 150-word summary in addition to offering three relevant articles to further expand the users&#8217; knowledge on the topic.



&#8220;Whether you&#8217;re a curious newcomer seeking to understand the basics of blockchain or a seasoned professional looking for more complex information, Binance Sensei has you covered. This cutting-edge tool is here to guide you every step of the way, ensuring an enriching and enjoyable educational journey through the world of Web3 and crypto,&#8221; Binance said.



It is not the first time Binance uses the AI as a tool. Earlier in March, the leading cryptocurrency exchange launched Bicasso, a new AI-based NFT generator that turns words and images into digital collectibles. Users will be able to mint NFTs by typing the image&#8217;s description.



Also in February, Binance launched a new feature through which its users can provide the company with feedback and comments in a long-lasting and dynamic way.



Binance’s users can even provide suggestions and ideas for product improvements, as this new tool comes as a part of a multi-phase project to enable the leading exchange to take part in its product roadmap.

Binance Academy Uses ChatGPT for Educating More Users

Binance CEO Changpeng Zhao said the cryptocurrencies&#8217; upswing will start from the Middle East, <a href="https://ar.cointelegraph.com/news/binance-ceo-hints-cryptos-next-bull-run-might-start-in-the-middle-east" target="_blank" rel="noreferrer noopener">according to Cointelegraph</a>.



Zhao&#8217;s remarks came in a reply to a tweet by Cameron Winklevoss, the co-founder of crypto exchange Gemini, as he complained about the US authorities&#8217; strict enforcement procedures against several crypto companies.



Winklevoss tweeted: &#8220;My working thesis atm is that the next bull run is going to start in the East. It will be a humbling reminder that crypto is a global asset class and that the West, really the US, always only ever had two options: embrace it or be left behind. It can&#8217;t be stopped. That we know. Any government that doesn&#8217;t offer clear rules and sincere guidance will be left in the dust. Quickly. This will mean missing out on the greatest period of growth since the rise of the commercial Internet.&#8221;



Zhao replied: &#8220;Start in the Middle of the East?&#8221; in a reference to the Middle East region.



Indeed, Middle Eastern countries like the UAE and Bahrain became more welcoming toward crypto and digital assets in general thanks to their supportive policies. The UAE recently unveiled its first federal-level regulations for Virtual Asset and Virtual Asset Service Providers (VASPs), seeking to add another layer of oversight to the industry.



While in May 2022, Binance Bahrain received a Category 4 license as a crypto-asset service provider (CASP) from the Central Bank of Bahrain (CBB).



Winklevoss was not the only person who complained about the US&#8217;s recent procedures toward crypto firms. CEO and Co-founder of Coinbase pointed out that the US procedures could push cryptocurrency firms to choose offshore centers that are more crypto-friendly as well as CEO of the Crypto Council for Innovation Sheila Warren.

Binance CEO Points To Middle East as Upswing Region of Crypto

World&#8217;s leading crypto exchange Binance will help fans to engage more with their sports teams to the extent of having dinner with them, <a href="https://cointelegraph.com/news/binance-to-bring-fans-closer-to-sports-teams-with-fan-token-platform" target="_blank" rel="noreferrer noopener">according to Cointelegraph</a>. 



Binance announced a new update to its fan token platform, which allows fans to gather points and redeem them with a variety of rewards. These rewards include tickets to games, access to meet and greets, and video clips from their favorite players, in addition, they can take part in exclusive dinners with the athletes.



Fans can collect points by participating in fan token activities such as completing tasks and voting in polls. The more participation of fans, the more points they get and the better rewards they get.



In this regard, Head of NFT and Fan Tokens at Binance Lisa He said the fan tokens are the future of engagement, noting the new update will work on strong relations between sports teams and athletes and their fans.



According to Lisa He, Fan tokens allow sports fans to feel more connected to their favorite sports teams by allowing them to have access to exclusive offers and have a voice in team decisions for the club.



Indeed, the platform was successful after making thousands of fans meet their favorite players from various clubs like Santos FC, Porto, and SS Lazio.



Recently, Binance is trying to be closer to its community to gain their loyalties. It launched a new feature through which its users can provide the company with feedback and comments in a long-lasting and dynamic way.



Binance’s users can even provide suggestions and ideas for product improvements, as this new tool comes as a part of a multi-phase project to enable the leading exchange to take part in its product roadmap. Binance&#8217;s main goal for this feature is to gather its community to suggest new features that it wants to see implemented on the exchange.

Binance Fan Token Program

Binance Builds Stronger Ties between Sports Teams, Fans

Binance, the world’s pioneering cryptocurrency exchange, launched a new feature through which its users can provide the company with feedback and comments in a long-lasting and dynamic way.



Binance&#8217;s users can even provide suggestions and ideas for product improvements, as this new tool comes as a part of a multi-phase project to enable the leading exchange to take part in its product roadmap, <a href="https://cryptonews.com/news/binance-launches-feature-implement-community-feedback-roadmap-development.htm" target="_blank" rel="noreferrer noopener">according to Crypto News</a>.



In a press release, Binance said that the main goal of this feature is to gather its community to suggest new features that it wants to see implemented on the exchange. Binance noted that it would review community feedback after which its product team will announce a roadmap for user-suggested features in March this year.



After announcing the roadmap, Binance&#8217;s community will vote on the proposed and top suggested features to be added to the company&#8217;s official website.



In this regard, Head of Product Mayur Kamat said: &#8220;We love hearing feedback from the community, whether it&#8217;s direct from the customer or from reviewing comments from social channels and messages &#8211; Binance has always built feedback into the product development process. On average, we get around 1,000 pieces of feedback every month – now we have a dedicated place for the community to make suggestions and leave a lasting impact on future Binance product developments.&#8221;



Binance CEO Changpeng Zhao (CZ) always gives explanations about issues related to the company to the public, mostly through Twitter, especially at the time of events preceding and following the bankruptcy of FTX.

Binance Reveals New Feedback Feature for Its Community

Binance CEO Changpeng ‘CZ’ Zhao said 2022 was a tough year for Binance and the crypto market overall but not unprecedented.



Zhao was trying to explain his perspectives on the crypto market in 2022 and expectations for 2023 in a blog titled &#8220;<a href="https://www.binance.com/en/blog/from-cz/a-letter-from-our-ceo-2022-the-year-of-resilience-3832363980753069400#idrichtexttextconfigcontentadoption-and-buildingstyle" target="_blank" rel="noreferrer noopener">A Letter From Our CEO: 2022, the Year of Resilience</a>.&#8221;



According to Zhao, 2022 witnessed crises and failures, mainly the collapses of Celsius, Voyager, BlockFi, and FTX, in addition to the decline in cryptocurrencies. However, CZ remained optimistic about the future of the industry and Binance, expecting that the market would recover rapidly in light of developments in the metaverse, NFTs, GameFi, DeFi, and other blockchain solutions.



Regarding Binance, he pointed out that his company would concentrate on building and regaining public trust through transparency despite the noise and putting users first, expressing his pride that Binance hires 7,500 employees, representing over 100 nationalities to serve more than 120 million users globally.



He described the crypto prices this year as incredibly resilient, looking forward to a stronger market regardless of whether recovery will happen in one month or one year.



Moreover, CZ said in an interview posted on Twitter that Binance users are free to withdraw their deposits anytime if they have concerns.



&#8220;We have more than 100% reserves on every single coin that we hold on behalf of our users, so feel free to withdraw at any time if you have any concerns,&#8221; the Binance boss noted.



Zhao&#8217;s message comes in response to controversial proof-of-reserves audits that many crypto firms, including Binance, underwent, to reassure the safety of their users&#8217; deposits.



By the end of 2022, Binance has secured 14 registrations and authorizations in jurisdictions across five continents, including Dubai, Abu Dhabi, Bahrain, Colombia, South Africa, France, Italy, Spain, Poland, Lithuania, Cyprus, Kazakhstan, Australia, and New Zealand.

Binance CEO Reassures Users That Funds Are Safe

This year, the crypto industry witnessed strenuous phases due to the bear market and the wave of bankruptcies that made crypto billionaires lose billions of their fortunes.



<a href="https://www.forbes.com/sites/johnhyatt/2022/12/24/these-crypto-founders-and-bitcoin-moguls-lost-116-billion-in-2022/?sh=1060db42b2a7" target="_blank" rel="noreferrer noopener">According to a recent report by Forbes</a>, 17 of the crypto tycoons lost about $116 billion over the past nine months since march, as 15 of them lost about half of their fortunes. In addition, ten lost their billionaire status, according to Forbes estimates.



The most significant loss was attributed to the CEO of the largest crypto exchange, Changpeng Zhao, the CEO of Binance. Zhao&#8217;s 70% stake in the crypto exchange was estimated at$65 billion in March, but it is now valued at only $4.5 billion.



Forbes reported that Zhao is facing growing doubts about centralized exchanges, especially Binance and continuous investigations of his company by US and European authorities over claims of &#8220;facilitating money laundering and other financial crimes.&#8221; However, Zhao confirmed that the deposits of crypto users are fully backed.



Coinbase CEO Brian Armstrong lost more than half of his fortune, valued at $1.5 billion after it was $6 billion in March. Coinbase’s stock plummeted 64% since August and more than 95% from its $100 billion IPO in April 2021, annihilating much of Armstrong’s fortune.



While the fortune of Ripple&#8217;s Co-founder Chris Larsen declined from $4.3 billion in March to $2.1 billion. Also the bitcoin billionaires Cameron and Tyler Winklevoss lost more than 50% of their fortunes as they reached $1.1 billion each after they were valued at $4 billion.



Regarding those who lost their billionaire status, the fortunes of co-founders of FTX Sam Bankman-Fried (SBF) and Gary Wang are zero this month after they were valued in March at $24 billion and $5.9 billion, respectively. FTX, once valued at $32 billion, collapsed in a matter of days after the CEO of Binance said his exchange would liquidate its FTT tokens, a matter that led to the plunge of FTT value. FTX filed for Chapter 11 bankruptcy on November 11.



Days ago, SBF was released on a $250 million bail package after making his first appearance at a US court to face fraud charges over the FTX collapse.



Moreover, the stake of Barry Silbert, founder and CEO of Digital Currency Group (DCG), was estimated at $3.2 billion in DCG in March and became $0 following the collapse of FTX.

Crypto Billionaires

Forbes Says Crypto Tycoons Lost $116 Bln in 9 Months

Binance had witnessed withdrawals of more than $3.6 billion from December 7 to December 13, a matter which negatively affected its liquidity, according to a recent report by Nansen, a crypto analytics company.



In a tweet, Nansen clarified that Binance saw total outflows worth about $8.8 billion, while the gross inflows reached over $5.1 billion.



The report mentioned that in November, Binance saw inflows of Ethereum ERC-20 tokens worth $2 billion, but it witnessed outflows worth $1 billion from December 12 to 13.



Andrew Thurman, a technician in Nansen, attributed this decline in liquidity to large crypto makers&#8217; partial exit from the world&#8217;s largest crypto exchange, referring to the withdrawal made by Wintermute, a crypto maker, of more than $300 million on December 11 and 12 in addition to the Jump Finance&#8217;s redemption of Binance USD worth over $30 million from December 12 to 13.



In this regard, Binance CEO Changpeng Zhao commented on the recent withdrawals, saying they come as a stress test that proves that the crypto exchange is solvent, considering these moves keep the industry healthy.



&#8220;We saw some withdrawals today (net $1.14b ish). We have seen this before. Some days we have net withdrawals; some days we have net deposits. Business as usual for us. I actually think it is a good idea to “stress test withdrawals” on each CEX on a rotating basis,&#8221; Zhao tweeted.



<a href="https://cointelegraph.com/news/binance-net-withdrawals-topped-3-6b-over-the-last-7-days-report" target="_blank" rel="noreferrer noopener">Coin Telegraph</a> reported that Binance may be negatively affected when Reuters published a report on December 12, alleging that the US Department of Justice was considering charging Binance executives with financial crimes, a matter which Binance completely dismissed.



Earlier, Zhao urged governments around the world to adopt and regulate the crypto industry instead of fighting it. He also announced that his firm would allocate $1 billion to set up a recovery fund with an intent to increase that amount to $2 billion soon if the need arises.

Binance Saw Withdrawals Over $3 Billion in 7 Days

Binance CEO Changpeng Zhao denounced being portrayed in addition to other guys by FTX founder Sam Bankman-Fried (SBF) as bad guys aftermath of the collapse of FTX in November.



<a rel="noreferrer noopener" href="https://twitter.com/cz_binance/status/1600083613780824064" target="_blank">In a Twitter thread</a>, Zhao explained many matters related to the crypto industry, wanting to correct a number of “wrong narratives”, he witnessed recently. Zhao described Bankman-Fried, also known by his initials SBF, as one of the greatest fraudsters in history and a master manipulator when it comes to media and key opinion leaders.



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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A list of wrong narratives I have seen recently.&mdash; CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1600083611667075074?ref_src=twsrc%5Etfw">December 6, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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&#8220;SBF perpetuated a narrative painting me and other people as the ‘bad guys.’ It was critical in maintaining the fantasy that he was a ‘hero.’ SBF is one of the greatest fraudsters in history, he is also a master manipulator when it comes to media and key opinion leaders,&#8221; Zhao tweeted. He added that SBF has good intentions but he committed mistakes.



The second wrong narrative the CEO of Binance dismissed is that FTX was collapsed by a third party, asserting that FTX has killed itself by its mistakes, claiming that it stole billions of dollars of user funds.



&#8220;No healthy business can be destroyed by a tweet,&#8221; Zhao tweeted, recalling that a Bloomberg article on FTX on November 18 was the reason for FTX collapse that cited Caroline Ellison&#8217;s tweet on November 6 on Binance and Alameda.



The third narrative which Zhao countered is that he wants to be the savior of the crypto industry, saying the crypto doesn’t need saving. crypto is fine.



&#8220;Crypto doesn’t need saving. Crypto is fine. It’s the beauty of decentralization. We are just part of it. We want to help other good projects that may be in a cash crunch because of recent events. It’s in our collective best interest,&#8221; he further tweeted.



FTX, once valued at $32 billion, collapsed in a matter of days after the CEO of Binance said his exchange would liquidate its FTT tokens, a matter that led to the plunge of FTT value. FTX filed for Chapter 11 bankruptcy on November 11.

Binance CEO

Binance CEO Describes FTX’s SBF As “One of The Greatest Fraudsters”

Binance, the world&#8217;s largest crypto exchange platform, collaborated with the University of Nicosia in offering free metaverse courses.&nbsp;



Under the partnership announced by Binance Charity, the philanthropic arm of Binance, and the Institute for the Future (IFF) of the university, Binance will offer five full scholarships for students from Cyprus and Greece. The students will learn the world’s leading graduate program in the field to obtain a master of science degree in blockchain and Digital Currency from the university.&nbsp;



Moreover, the partnership includes offering free metaverse-based courses, but learners are required to possess an NFT. The students, who would like to get a certification after completing the course, should pay a small fee to receive an NFT certificate minted on the Ethereum blockchain. The course will be delivered on the blockchain and in the metaverse.



The university said more than 14,000 students registered for attending the online 12-week course “NFTs and the Metaverse.” Web 3.0 entrepreneurs, pioneering NFT creators and collectors, and investors will deliver lectures during the course.&nbsp;



Commenting on the partnership, Binance CEO Changpeng Zhao tweeted that the world is moving forward.&nbsp;



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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">University of Nicosia in Cyprus 🇨🇾 offers courses in the meta verse, and you must have an NFT to attend. Binance offers scholarships with this university. The world is moving forward. <a href="https://t.co/aDhCu7cIS8">pic.twitter.com/aDhCu7cIS8</a>&mdash; CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1597351154438094848?ref_src=twsrc%5Etfw">November 28, 2022</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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Head of Binance Charity Helen Hai said the interest in blockchain increased over the past years, however academic institutions were taking slow steps in covering the needs of this area.&nbsp;



The students will learn modules in law and regulation in blockchain, digital currency, principles of money, banking and finance, and entrepreneurship management in addition to blockchain systems and architectures with a focus on existing and emerging crypto applications, such as Decentralized Finance (DeFi) and asset tokenization.&nbsp;



It is not the first time that Binance did something in favor of crypto and blockchain education. Earlier this month, it announced offering free courses online to educate crypto users on cryptocurrency, blockchain, Web 3, and the metaverse.



Through Binance Academy, the courses come under the title of “Binance Learn &amp; Earn.” Binance and non-Binance users can complete the courses. But it is free of charge for Binance users,&nbsp;<a target="_blank" href="https://bitcoinist.com/binance-launches-free-crypto-courses-and-provides/" rel="noreferrer noopener">according to Bitcoinist</a>.



The Beginner Track consists of courses, which are covering the fundamentals of the crypto world and blockchain, decentralization, Web 3.0 and metaverse, and trading and investment strategies. The intermediate and advanced levels will be available in the future.

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