Building Trust in the Crypto Ecosystem, and Binance Culture Explained
Binance VIP & Institutional
Tailored digital asset solutions for institutions and high-net-worth clients on the world's largest crypto exchange
Welcome to the February edition of the Binance Institutional Insights monthly newsletter, where we recap the month that was in digital assets from an institutional perspective, as well as share our latest ct innovations.
To learn more about Binance’s institutional services, visit our website.
Binance News
We are in the middle of a watershed moment in the digital asset space. Rebuilding user and regulator trust will be critical for the future of the whole industry. It is incumbent upon the industry’s key players such as centralized crypto exchanges(CEXs) to step up and prove that bad actors do not define the digital asset ecosystem. Striving to lead by example, Binance has articulated an actionable framework for centralized cryptocurrency exchanges designed to facilitate building public trust in the crypto ecosystem.
On November 24, 2022, we launched the Industry Recovery Initiative (IRI) as part of our ongoing effort to support the crypto industry after a difficult year. Three months later, the IRI is backed by 18 organizations that have jointly committed $1.1 billion.
Behind these actions are what has built us today, the Binance Culture. The elements of the Binance Culture are our vision, mission, and core values that inform our approach to everything we do.
And we didn’t stop on the journey of crypto mass adoption. For the past month, Binance signed an MoU with the Georgian Agency for Innovation and Technology and also published a report with the National Bank of Kazakhstan.
Product Launches & Updates
The Airdrop has been updated with a new one-stop Portal, which provides an overview of airdrops supported by Binance and helps users keep track of ongoing airdrops.
We have also rolled out innovative new features for Margin & Loan users. Binance Loans is pleased to announce the launch of Binance Flexible Loan, where users may complete loan orders while collateralizing cryptocurrencies in existing Simple Earn Flexible Product subscriptions. The Margin Trading now supports dynamic interest rates, effective from 2023-03-01 06:00 (UTC), users can expect hourly interest rate updates on the Margin Data page based on current market conditions.
Continuing the efforts in providing transparency on user funds, Binance is excited to introduce zk-SNARKs, a zero-knowledge verification method that keeps sensitive information private and more secure, to its Proof of Reserves (PoR) Verification System, with SHIB, DOT, CHZ, and SOL added to the list of verifiable assets.
For specific product and other updates, please check out the below list:
Markets & Research
Cryptocurrency market capitalization gained 4% month-to-date, standing at US$1.03 trillion as of 24 February 2022. DeFi TVL increased 10% month-to-date, and NFTs remained range bound in ETH terms, based on Nansen’s NFT-500 index. Notable highlights for the month include Blur’s airdrop of over 360 million $BLUR (~US$334M) and the continued rise of the Ordinals Protocol. The Ordinals Protocol allows the creation of unique “digital artifacts” that can be held and transferred across the Bitcoin network and has over 167K inscriptions created to date. Read the February Market Takeaway.
Here are the latest Binance Research publications:
VIP Events
We hosted an AMA on Twitter Spaces covering the main differences between crypto & traditional markets when it comes to Market Making. Catch the conversation here.
Our sales team recently attended the following events. We always invite our community to reach out and meet in person. Keep an eye out on socials for upcoming Binance VIP conferences and meetups.
Curious to learn more about Binance VIP & Institutional?
Email us at vip@binance.com. Follow us on Twitter for the latest updates.