According to an official announcement, Binance will stop all Nigerian Naira (NGN) services. From 08:00 (UTC) on March 8th, 2024, the remaining NGN balance in users' Binance accounts will be automatically converted to USDT at the following exchange rate. Deposit, withdrawal and exchange: · After 14:00 (UTC) on March 5th, 2024, Binance will no longer support NGN deposits. · After 06:00 (UTC) on March 8th, 2024, NGN withdrawals will no longer be supported. · After 08:00 (UTC) on March 8th, 2024, Binance will represent users to convert the remaining NGN balance in their spot wallet and fund wallet to USDT at a rate of 1USDT = 1,515.13NGN.

Binance will temporarily suspend the trading of Dogwifhat (WIF) on March 5, 2024 at 22:00 (GMT+8). The following trading pairs will be available: WIF/BTC, WIF/USDT, WIF/FDUSD, and WIF/TRY. The WIF deposit channel is now open. WIF withdrawals are expected to be available on March 6, 2024 at 22:00 (GMT+8).

According to the Chairman of the Nigerian House of Representatives Financial Crimes Committee, Ginger Onwusibe, the committee has summoned Binance CEO Richard Teng to appear in court on or before March 4 to investigate allegations of money laundering and financing terrorism. If Richard Teng fails to appear, appropriate measures will be taken. <br>

According to data from The Block Pro, the spot trading volume of compliant centralized exchanges (CEX) continued to rise in February, with an increase of about 6.4%, reaching 668.5 billion US dollars. In terms of market share in the spot market of major cryptocurrency exchanges, Binance's market share in February was 75.7% (an increase from January), Coinbase was 10.9%, Kraken was 4.4%, and LMAX Digital was 2.1%.

A Binance executive stated that they have not heard of the Nigerian government's demand for a $10 billion fine and have no intention of paying the fine to restore services that were suspended or to release two Binance executives. Meanwhile, Bayo Onanuga, an adviser to the Nigerian president, stated that his statement to the BBC was distorted by the media and that he did not say he had informed Binance regulators of the decision to impose a fine. Yesterday, the Nigerian government demanded that Binance pay at least $1 billion in compensation, which was made in the context of Nigeria's crackdown on cryptocurrency exchanges and the devaluation of its currency. Nigeria accuses Binance of profiting from "illegal transactions" in the country. Currently, Binance is under investigation in Nigeria, and earlier this week, Binance executives were detained by Nigerian authorities.

According to market data information on March 2nd, BNB ecological liquidity protocol Thena protocol token THE has broken through $0.29 in a short time and is now priced at $0.2898, with a 24-hour increase of 35.82%.

According to Lookonchain monitoring, in the past hour, a newly created address withdrew 7.38 million US dollars worth of ARKM from Binance.

Lookonchain monitoring data shows that a whale has deposited 365.36 billion SHIB (worth $5.76 million) into Binance through 5 addresses in the past 11 hours to make a profit. From November 17th to December 27th, 2023, the whale withdrew 365.36 billion SHIB (worth $3.24 million) from Binance. If they sell all of their SHIB, they will earn over $2.5 million.

Survivors of the October 7th Hamas attack have sued the world's largest cryptocurrency exchange, Binance, accusing it of allowing terrorist organizations to raise funds on its platform, thus providing "material support" to the organization. The lead attorney in the case, David Schoen, stated in a statement that Binance and its affiliates have intentionally facilitated the flow of funds for Hamas and other evil terrorist organizations for years, and intentionally provided them with material support.

According to Coinglass data, the open interest of Bitcoin futures on centralized exchanges has reached a new historical high, with a total value of over 26 billion US dollars, surpassing the peak of open interest in the last quarter of 2021, which was 24 billion US dollars. Data shows that the open interest of Bitcoin futures on exchanges such as Binance, OKX, and Deribit has reached a high of over 21 billion US dollars.

Shen Chao, Binance has removed the peer-to-peer (P2P) trading function for the Nigerian currency Naira. Nigerian Binance users have expressed dissatisfaction and concern. It is reported that the P2P function allows users to trade directly without a third party. Binance has also attracted the attention of the Nigerian central bank because the bank is concerned about possible "suspicious fund flows." There have been reports that the National Security Adviser's office has detained two Binance executives in Abuja. Local cryptocurrency analysts are disappointed with the government's unfriendly attitude and believe that the government should focus on manufacturing and exporting rather than confronting cryptocurrencies.

The "Network Security Elite Award Program" jointly organized by the Hong Kong Police Force, the Hong Kong Government Computer Emergency Response Team Coordination Centre (GovCERT.HK), and the Hong Kong Computer Emergency Response Team Coordination Centre (HKCERT) held its 4th award ceremony, recognizing outstanding performances by network security personnel in various industries in their respective fields. Among them, Binance won the Excellence Award in the Banking and Finance category, and Binance was also the only Web3 enterprise representative to receive an award this year. The Network Security Elite Award Program was first held in 2016 and is a landmark network security professional award in Hong Kong. Its aim is to commend outstanding achievements and professional skills of network security personnel in different industries. Carlos Mak, a member of the Binance investigation team, said: "Binance believes that close cooperation with law enforcement and regulatory agencies is an indispensable part of eliminating illegal elements in the industry. We are pleased to be able to work with Hong Kong law enforcement officers to make contributions in network security. In the future, Binance will continue to make efforts to improve the security of the global Web3 and build a reliable Web3 ecosystem."

Binance has announced that it has successfully recovered $4.4 billion worth of digital assets over the past two years. These assets were originally not properly accounted for due to user errors such as inputting incorrect wallet addresses, depositing incompatible tokens, and blockchain upgrade issues. In 2022 and 2023, Binance resolved 381,616 cases of cryptocurrency not being properly accounted for.

The Nigerian government has detained two senior executives of Binance, a cryptocurrency exchange platform, as part of a wider crackdown on crypto platforms. The move comes amid concerns over currency manipulation and illicit fund movements, which have been blamed for weakening the value of the local currency, the naira. The Central Bank of Nigeria has raised concerns over the flow of funds through Binance Nigeria, highlighting the need for regulatory scrutiny and collaboration among government agencies. Binance has disabled its peer-to-peer function for Nigerian users in response to the crackdown, raising uncertainties about trading on the platform. The future of crypto trading in Nigeria remains uncertain.

According to Bloomberg, Binance is launching a new VIP invitation program in hopes of attracting a new group of traders from traditional markets. The program lowers the threshold for becoming a VIP user and allows new users to apply for the Binance VIP program using the total amount of cryptocurrency and traditional assets (such as stocks) held on other external trading platforms. Previously, Binance users needed to have a total monthly trading volume of at least $1 million on the exchange platform to become a VIP. VIP users enjoy benefits such as lower trading fees and exclusive participation in events.

According to the market, BNB has broken through $410 and is now trading at $410.3, with a daily increase of 2.99%. The market is volatile, so please be prepared for risk control.

Binance will carry out scheduled system maintenance on selected trading pairs of Binance Convert, which is expected to enhance the overall system performance and stability. The maintenance is scheduled to take approximately two hours and will start at 09:30 (UTC) on February 28th, 2024. During the system maintenance period, the following trading pairs will temporarily be unavailable for trading on Binance Convert: WBNB-BNB, WETH-ETH, GXS-REI, BTTOLD-BTTC, TRXOLD-TRX, STGOLD-STG, RDNTOLD-RDNT, QUICKOLD-QUICK, AVAOLD-AVA, OPUSDCE-USDC, MATICUSDCE-USDC, ARBUSDCE-USDC, TUSDOLD-TUSD, PAX-USDP, BUSD-FDUSD.

Binance pleaded guilty to violating sanctions and anti-money laundering laws last year.

US Judge Richard Jones has approved the plea agreement for Binance to pay a fine of $4.3 billion. A Binance spokesperson stated in a statement, "Binance takes responsibility for its past actions and has made significant progress in taking the measures required by the plea agreement terms."

Bloomberg reported that the judge responsible for handling the Binance case has approved Binance's admission of guilt and payment of a $4.3 billion fine.