Binance Blog

Main TakeawaysIn 2025, out of the overall $6.69 billion in potential fraud and scam losses that Binance prevented – including account takeover and bank transfer fraud losses – 3.9 billion were related to scam attempts.In addition to recovering more than $12.8 million in stolen assets, we neutralized sophisticated scams while empowering users to safeguard their money through advanced technology, empathetic support, and user education.Security is a shared mission: by combining continuous innovation with community vigilance, Binance helps promote trust, resilience, and safer participation in crypto for all.In 2025, as the crypto industry accelerated the push toward mainstream adoption, security threats and risks evolved as well. Fueled by AI efficiencies and increasingly sophisticated methods of exploitation, they rendered static or reactive defenses insufficient.  The challenge for Binance as an industry-leading platform is no longer simply preventing crime using familiar approaches, but responding with security capabilities that evolve at least at the same pace as the threats themselves. To meet the demands of this fast-paced landscape, we’ve built a continuously adapting risk framework powered by AI, advanced analytics, and operational intelligence. By continuing to innovate on this foundation, we strive to ensure our users can participate in the future of finance with confidence and peace of mind. There is no single silver bullet against scams. Rather than relying on a single security mechanism, we’ve built a comprehensive defense ecosystem – spanning proactive detection, swift intervention such as blocking suspicious activities, and consistent user education. While many of these systems operate in the background, our strategy centers on two priorities: strengthening our operational foundations and integrating next-generation technologies. Here’s how we delivered on these key fronts in 2025.Results of Binance’s 2025 Anti-Scam and Recovery EffortsIn 2025, we recovered over $12.8 million for our users, up almost 41% compared to the year before. Our enhanced detection systems helped prevent over $3.9 billion in potential losses from scams. This figure represents cases where our Risk team flagged high-risk activity and either stopped suspicious transactions or issued warnings to users. Throughout the year, we blacklisted more than 36,000 malicious addresses and sent over 9,600 daily pop-up warnings to keep users informed in real time. Each month, we successfully recovered funds for over 4,000 users, for a total of more than 48,000 recoveries in 2025.In 2025, the share-seed-phrase scam surged, with scammers posing as Binance agents to trick users into moving funds to wallets they controlled, using a fake seed phrase to gain trust. At its peak in January, over 600 cases were reported in a month, but subsequent anti-risk and user education measures helped to reduce monthly cases to below 170 by November.Believing that empathetic conversation can cut through panic and stop scams better than texts, we channeled more resources in human support for at-risk users, resulting in a 20% increase in in-app voice calls year-on-year, with over 36,000 calls to potential victims in 2025.Additionally, we prioritized protecting vulnerable groups, such as elderly users, by sending over 110,000 customized high-risk alerts in 2025, helping them spot scams before funds left their accounts.Four Pillars of Anti-scam Initiative Last year, we introduced our Four Pillars of Anti-scam Refund Initiative to structure our user protection measures. However, as scam tactics continue to evolve, our strategies must also adapt. Here’s an overview of the core 2025 developments and initiatives behind these four pillars.Proactive ProtectionThe best way to fight scams is stopping losses before they occur. In 2025, we strengthened our global intelligence network and expanded our threat-hunting capabilities to identify and blacklist malicious addresses.Beyond backend defenses, we prioritized real-time user protection through personalized risk interventions for vulnerable user groups by delivering timely transfer-stage warnings to help users recognize danger at the most critical moment.24-Hour Safety NetEven with safeguards in place, some users may still proceed with risky transfers. To protect them, we maintain a 24-hour “safety net” that allows us to freeze funds sent to flagged accounts – creating a crucial window for investigation and recovery. In 2025, we strengthened our human support for high-risk cases. Supported by our anti-scam risk control measures, our teams were able to identify, warn, and dissuade vulnerable users from sending funds to scammers.Binance’s 9 Levels of Anti-Scam Risk Control Measures Rapid Response RecoveryOur Rapid Response Recovery system combines seamless user reporting with instant AI-powered analysis, enabling suspected accounts to be frozen within seconds. While we conduct thorough manual reviews and monitor fund flows proactively, the primary responsibility for tracing and recovery often lies with law enforcement. Furthermore, scammers usually move stolen funds immediately on-chain, making full recovery difficult. Nevertheless, we continue to support verified victims around the clock, facilitating refunds whenever funds remain accessible to us.Silent Sufferer SupportMany scam victims stay silent, feeling shame or believing recovery is impossible. We bridge this gap with proactive support that identifies users who have unknowingly sent funds to frozen scammer accounts. By guiding these potential victims through the recovery process, we ensure everyone receives fair, compassionate treatment. Our goal is to turn silent suffering into aided healing and real recovery.In 2025, users facing fraud found a lifeline through Binance’s recovery initiatives. From Rapid Response freezing scam wallets to hands-on guidance during reporting, these interventions turned potential loss into relief. Read their full stories to see how our defense strategies helped real users: a miner who got scammed by a fake online store; a seasoned user who lost their money when a trusted seller account got hijacked; a novice trader misled by a fake “trading mentor.” First Step to Recovery: Tracing the Stolen FundsTo have a chance to recover victims’ funds, tracing is essential. Stolen assets often pass through external on-chain addresses or other centralized exchanges before returning to accounts on Binance.Our approach relies on analyzing transaction history to link the victim’s initial transfer to the funds’ subsequent journey. This visibility enables us to freeze the suspect’s account, trace the flow, and, whenever possible, facilitate a refund from the scammer back to the victim.Intelligent Defenses: The Role of AI and Machine LearningBinance’s integration of machine learning and artificial intelligence represents a fundamental shift in how we combat fraud. As attackers adopt AI to scale and accelerate scams, manual rules can no longer keep pace. In response, our anti-scam strategits transitioned to an AI-native approach, using advanced models to power a faster, smarter, and continuously evolving risk framework, as demonstrated in the examples below.Risk Strategy Factory: Our purpose-built AI assistant reduces the lag between detecting new threats and deploying protections. It automatically identifies effective patterns and generates rules and tests based on new threat-related cases, reducing turnaround time. Detecting Scam Language in P2P Chats: Deceptive communication is one of the most common tactics in crypto trading scams. To counter this, Binance developed a monitoring system that analyzes chat messages between buyers and sellers during P2P transactions, identifying language patterns that indicate possible scam intent, such as pressuring users to release crypto before payment or suggesting that the trade continue outside the platform.Detecting Fake Proof-of-Payment Images: Some P2P scammers attempt to trick sellers by sending fake proof-of-payment (POP) images to make it appear that a transfer has been made. To tackle this, Binance built a computer vision-based pipeline that focuses on detecting fraudulent POP images, allowing Binance to quickly detect and block suspicious transactions, protecting users before any funds are released.Multimodal AI for Scam Reports Processing: To further improve scam detection, Binance created a multimodal AI model that combines different types of data, including behavioral transaction logs and user reports. By bringing structured and unstructured data together, the model can spot patterns that would otherwise go unnoticed. This approach significantly reduces the time needed to process user reports, leading to quicker responses, fewer losses, and a better experience for users across the platform.Security as a PartnershipAbove all, security is a partnership. While our AI and investigators work behind the scenes, you remain in control of your assets. Protect yourself by introducing these key habits:1. Treat Warnings as Stops Rather Than Suggestions: When a Binance risk alert appears during a withdrawal, it’s a warning triggered by our risk engine detecting a high-probability threat. Don’t click through it. Take a moment to read the details and reconsider the transaction. That brief pause can be the difference between staying safe and falling for a scam.2. Break the Silence: Report any suspicious activity. Every report helps train our AI and strengthens protection for millions of users. If you suspect a scam, act immediately. File a report quickly and easily via the Self-Report page. Alternatively, you can also follow the steps provided here.3. Protect Your Account with Binance Verify and Anti-Phishing Code: Your vigilance is the first line of defense. Binance offers tools to verify communications and spot imposters:Binance Verify: Instantly check if a domain, email address, phone number, or Telegram ID is officially Binance.Anti-phishing code: Set a unique code that will appear in every genuine Binance email and SMS, to avoid falling prey to spoofed messages.Final ThoughtsIn 2025, the pattern behind most scam losses was speed, pressure, and misinformation at the moment a user is about to send funds. Our focus is to meet that reality with layered defenses that work in real time: earlier detection, clearer warnings, faster freezing and recovery workflows, and support that helps users slow down before a mistake becomes irreversible. As crypto becomes more widely used, security has to scale with it, which means building systems that reduce harm without adding friction for legitimate users. We will keep strengthening the controls and education that make participation safer, and we encourage users to treat alerts seriously, verify channels, and report suspicious activity quickly so protections improve for everyone.Further ReadingKnow Your Scam: How to Spot And Avoid Fake Investment SchemesBinance Drives Responsible Growth Through Compliance and Law Enforcement Partnerships#2025withBinance: Your Crypto Year Wrapped – Milestones, Innovation, and Community

Main TakeawaysFreedom Finance Global PLC and Binance Kazakhstan have signed a memorandum of understanding to explore crypto-as-a-service collaboration, combining brokerage expertise with institutional-grade crypto infrastructure.The integration of Binance’s Crypto-as-a-Service will give Freedom Finance’s clients seamless access to digital assets alongside traditional investments within a single platform.The initiative reflects a shared focus on innovation, financial inclusion, and expanding regulated crypto access across Kazakhstan.Under a newly signed memorandum of understanding, Binance Kazakhstan and Freedom Finance Global PLC — a leading digital retail broker — will explore commercial and strategic cooperation on crypto-as-a-service (CaaS) solutions. This collaboration will combine the expertise and technological capabilities of Freedom Broker and Binance Kazakhstan to develop innovative crypto-related services.Integrating CaaS to Expand Digital-Asset AccessUnder the new partnership, Freedom Finance Global PLC has begun integrating Binance’s Crypto-as-a-Service into Freedom Brokerage, tapping into Binance’s deep liquidity and institutional-grade infrastructure. This move allows Freedom to build its own branded crypto, offering clients a seamless, end-to-end way to trade and manage digital assets via Binance Kazakhstan, while staying fully within the Freedom ecosystem. This will allow Freedom to combine traditional and digital investments within a single platform without compromising on user experience.Advancing Financial Inclusion Through Crypto-as-a-Service"The signing of the memorandum paves the way for a strategic partnership that will enable us to implement cutting-edge technologies, test new products, and strengthen our expertise in digital finance,” said Sergey Lukyanov, Chairman of the Board of Directors of Freedom Finance Global. “This collaboration will contribute to the sustainable growth of the cryptocurrency market in the country and create new opportunities for our clients and the entire market."Nurhat Kushimov, General Manager of Binance Kazakhstan, added: “We are pleased to begin cooperation with Freedom Broker under this initiative. The potential implementation of this project may contribute to greater financial inclusion and the development of the digital asset ecosystem both in Kazakhstan and across the CIS region.”Catherine Chen, Head of VIP & Institutional at Binance, noted: “Amid growing global interest in crypto assets, we see significant potential in partnering with Freedom Broker to offer digital assets to clients at scale and unlock new growth opportunities.”Final ThoughtsThe new partnership reflects Binance’s ongoing commitment to advancing global crypto inclusion, expanding access to digital assets through trusted, locally regulated collaborations, one partnership and market at a time.Further ReadingsBinance Leads The Industry in Q3 InflowsBinance Drives Responsible Growth Through Compliance and Law Enforcement PartnershipsRaising the Bar for Responsible AI in Crypto: Binance Earns ISO/IEC 42001 Certification

Main TakeawaysBinance Seeds is an early-career program built to accelerate growth through instilling ownership and high standards, and Naomi’s journey shows what that looks like in practice.After pivoting into crypto through a referral, she grew from Customer Service Agent to Shift Leader within six months, learning fast in a high-bar, high-pace environment.She later transitioned to the Admin team, bringing a user-focused mindset inward and using employee feedback to shape a workplace where people can connect, reset, and do their best work.Binance Seeds is our early-career program designed to nurture talent and accelerate employees’ professional growth. It features two tailored tracks: the Pioneer Talent Program for early-career candidates, and the Binance Accelerator Program for recent graduates and students.This blog series, Seeding Success, brings to life the program graduates’ real stories of early-career growth, ownership, and impact. While the Binance Seeds program launched in 2025, the commitment behind it has been years in the making, and these stories help show that continuity.Naomi’s is one of such stories: a career pivot into crypto through a referral, rapid growth through the ranks of Customer Service, and a second transition to an Admin role focused on the employee experience.A Career Reset and Pivoting Into BinanceBefore Binance, Naomi worked as a restaurant hostess, keeping day-to-day service running through constant customer interaction. At the same time, she was studying interior design, but it wasn’t clicking. “I didn’t feel like I was learning much or enjoying the path I was on, so I started looking for a new direction,” she said, and that impulse became the start of a new chapter.The pivot came through a referral from her cousin, who was already at Binance. He introduced her to the platform, helped her set up an account, and encouraged her to apply for a Customer Service role. Naomi hesitated, unsure if she could succeed without crypto experience. “I was nervous because I didn’t have experience in crypto and worried I wouldn’t be able to help others without that knowledge. But I decided to give it a try.” Around the same time, she noticed some designers she followed had been experimenting with NFTs. She realized that Binance was part of that exciting world on the intersection of technology and art, making the leap feel even more worthwhile. This is the kind of career move Binance Seeds is designed to support: a purposeful, value-driven leap into a dynamic space where you can learn fast, grow quickly, and make an impact where it matters most to you.Learning Fast in Customer ServiceNaomi joined Binance as a Customer Service Agent in 2022. With limited crypto knowledge, she leaned on her shift leader, stayed focused, and built confidence through consistent performance.In Customer Service, Naomi was motivated by the human moments behind the queue. “The moments that stayed with me most were when a user came in stressed or confused, and left the conversation relieved,” she said.Six months in, a Shift Leader role opened, and Naomi earned it. She moved from resolving individual cases to leading a team and owning performance across teams. “The biggest shift was that the team’s results became my results,” she explained. At Binance, people are trusted with real responsibility early, and the bar rises with it. Learning to LeadNaomi’s first year as a Shift Leader was a major adjustment. As a first-time people manager, she ran into a familiar truth: effort alone doesn’t automatically translate into outcomes. “I was working overtime, coaching and sharing tools, but I wasn’t seeing the progress I expected,” she shared. That realization reshaped how she led. She learned to set clearer expectations, give more direct feedback, and address underperformance immediately. When her manager saw an opportunity to better align her strengths with team needs, he suggested a new team assignment. Over time, she transitioned across the Polish and later the German line, strengthening her ability to adapt across cultures, communicate standards more directly, and act sooner when outcomes were stagnant.One manager accelerated her growth by setting a high bar and giving her real ownership. “His approach was basically: it’s your team, you decide,” Naomi shared. The combination of autonomy, trust, and high standards pushed her to think ahead and act decisively. The lesson that stayed with her was that supporting people means being honest, setting clear expectations, and safeguarding team outcomes. Unlocking Growth and ResultsOver time, Naomi’s scope and impact grew in visible steps, reflected through three promotions from 2023 to 2025. When asked what consistently unlocked that growth, she pointed to two constants – dedication and follow-through. “When I set a goal, I commit fully and put in the work to reach it.” In other words, her story is about committing to the work in front of her, raising the bar, and staying resilient through the moments outside of her comfort zone.Naomi’s Second TransitionWhile growing in Customer Service, Naomi kept an eye on Admin roles. Naturally empathetic and drawn to creating a positive environment, she applied again when the opportunity arose, seeing it as the next step in her growth.Naomi joined the Admin team in 2025, shifting from customer escalations to enabling employees by improving the workplace experience and supporting internal stakeholders across the business. In this role, being user-focused means catering to Binancians’ needs – she listens, guides people to the right team, and helps them move forward without feeling stuck. While the “tickets” look different, the goal remains the same: help someone move forward. Sometimes it’s solving a practical problem, other times, it’s creating moments – like in-person meetups – to make collaboration easier.Her work also focuses on building a supportive workplace: spaces where people can reset and events that foster connections and lasting relationships. Since joining Admin, Naomi has become a trusted partner on key initiatives, including the Global Travel Task Force, and is recognized for her responsiveness, work ethic, and attention to detail in employee engagement and event coordination.Feedback is her clearest signal of impact. Post-event reflections help her see what worked, identify patterns, and adjust future initiatives so the office and events continue to genuinely support teams.Final Thoughts: Binance Seeds’ MissionNaomi’s story starts with a referral, but it’s defined by steady growth and intentional transitions, a trajectory built on commitment, resilience, and the hunger to learn on the job. She has gone from a crypto newcomer to a first-time leader, bringing a user-focused mindset to improving the workplace experience.This mindset and the successful cultivation of emerging talent is what our Seeds program is all about.Whether you’re already a Binancian today or thinking about joining tomorrow, success at Binance is built on four key pillars: commit with intent, learn quickly, aim higher with every milestone, and lead with the user in mind.Curious about Binance Seeds and how we’re building the next generation of talent in crypto? Read Binance Seeds: Growing the Next Generation of Crypto Talent to learn more about the program and its two tracks. Explore opportunities with Binance Seeds today!Further ReadingBinance Seeds: Growing the Next Generation of Crypto TalentMaking It Count: How Bola Turned a Short-Term Opportunity With Binance Into a Full-Time WinHow Binancians Are Fostering Accountability Through Radical Candor

Main TakeawaysSouth Africans can now deposit South African rand (ZAR) on Binance using Capitec Pay, with payments approved through the Capitec Bank App.Capitec Pay streamlines deposits by using a bank-native approval flow rather than requiring users to enter card details or share banking login information.This expands Binance’s local ZAR on-ramp options, making it easier for Capitec clients to fund their accounts and start using Binance services.Fiat deposits are where most user journeys begin. Before you can trade, convert, or transfer digital assets, you need a reliable way to move local currency onto a platform. In practice, the on-ramp experience affects not only speed and convenience, but also user confidence: a deposit flow should be predictable, easy to complete on mobile, and clear about what you are approving.Capitec Pay is now live on Binance as a new ZAR deposit method for South Africa, giving Capitec clients a more direct way to fund their Binance account.How ZAR Deposits Fit Into Binance’s Fiat OptionsBinance supports multiple ways for South African users to move between fiat and crypto, and the right choice depends on how you prefer to fund your account.If you want to deposit ZAR directly before trading, you can use fiat deposit options such as linked bank transfers. If you prefer buying crypto from other users using local payment methods, Binance P2P provides another route. And for some users, card purchases through the Buy Crypto service can be a convenient option depending on eligibility and issuer rules.Capitec Pay adds another path for direct ZAR deposits, with the confirmation step handled through the Capitec app experience rather than a manual EFT process.What Capitec Pay Is, and Why It Matters for DepositsCapitec Pay is a Capitec payment method that allows users to approve payments from within the Capitec Bank app. On Binance, it functions as an in-app approval flow for ZAR deposits.This matters because deposit friction is often a practical barrier to adoption. If funding an account requires multiple steps, repeated data entry, or uncertainty about what you are confirming, users are more likely to abandon the process or delay getting started. A bank-native approval flow reduces the amount of sensitive information users need to handle during a deposit and keeps the confirmation step inside a familiar banking environment.How to Deposit ZAR on Binance Using Capitec PayThe exact screens can vary slightly by app version, but the core flow is consistent:Log in to your Binance account, then tap [Add Funds].Choose [Deposit ZAR]Select [Capitec Pay] as your deposit method.Enter the amount, then select [Continue].Follow the prompt to approve the payment in your Capitec Bank app.Return to Binance and check the deposit status in your transaction history.If a deposit does not go through, confirm that the name on your Capitec account matches the name on your Binance account and that your account limits allow the transaction.Final ThoughtsCapitec Pay adds a more direct ZAR deposit option for South African users, with approval handled in the Capitec app. Details like where confirmation happens and how much information you need to enter are not cosmetic; they shape whether crypto feels like a usable financial tool or a complicated workflow.That is why Binance continues investing in local payment rails and bank-native flows. As digital finance evolves, the platforms that earn trust will be the ones that make everyday actions – funding an account, moving value, and managing risk – feel as familiar and reliable as traditional banking, while preserving the flexibility of digital assets.To make a ZAR deposit with Capitec Pay, tap [Add Funds] → [Deposit ZAR], then choose [Capitec Pay]. For more information, please refer to our Capitec Pay deposit FAQ.Further ReadingBinance Expands in Africa With Seamless and Localized Crypto Access in 30+ CountriesHow to Deposit and Withdraw ZAR to Binance From a Linked Bank AccountBinance Pay Partners With Zapper to Unlock 31,000 Merchants in South AfricaDisclaimer: 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. This content is for general information only and should not be construed as financial or investment advice. For more information, see our Terms of Use and Risk Warning.Disclaimer: For the avoidance of doubt, the use of the terminology of depositing or withdrawing does not mean that Binance receives, holds, or releases any fiat currency through its platform nor does it facilitate any deposit taking, remittances, or similar activity in every country where services are available.

Main TakeawaysCriminals conducting address poisoning attacks exploit the common habit of users copying addresses from transaction histories and the UI limitation of "shortened addresses."Using vanity address generators, attackers create addresses that mimic the first and last few characters of victims’ frequent contacts; in the next step, they use fake tokens, zero-value transfers, or even small real amounts to bypass wallet filters and pollute your history.Use smart wallets like Binance Wallet that filter spam and alert for similarity addresses, utilize address books, and never rely solely on the first/last characters of an address when making a transaction.The cryptocurrency ecosystem continues to face evolving security challenges. Among these, address poisoning attacks have become a serious threat, aiming to trick users into sending funds to malicious or incorrect addresses. For Binance, safeguarding your assets is a top priority. Read on to learn more about how these attacks unfold, how Binance Wallet proactively protects you from them, and what best practices will help you not to fall for this type of malicious scheme. Why It WorksMost Web3 users, or humans generally, don't memorize 42-character hexadecimal strings. Instead, they rely on visual shortcuts. Because of UI constraints in block explorers (like Etherscan) and wallet interfaces, addresses are often displayed in a shortened way as: 0x1234...abcd.Attackers leverage this by using services called vanity address generators – tools that create custom wallet addresses with chosen starting and ending characters – to produce a malicious string that matches your legitimate recipient's prefix and suffix. Since generating addresses costs almost nothing, they can brute-force a match that looks identical to the untrained eye.When you initiate a new transaction to a recipient that you know you have transacted with recently, you might look at your recent history, see an address that starts and ends correctly, and click "copy." At that moment, you’ve unknowingly copied the attacker's address.How Attackers "Poison" Your History: 3 Common MethodsTo get their malicious address into your transaction history, attackers rely on three primary techniques.1. Fake Token Contracts (Event Spoofing)Here, attackers deploy a non-standard token contract (e.g., a fake token named "U5DT"). These contracts are coded to trigger "Transfer" events that look like they came from your address to their malicious address.They can even spoof the exact amount of your last legitimate transfer. If you just sent 1,000 USDT, they can make a record appear in your history showing you "sent" 1,000 U5DT to their poisoned address.2. Zero-Amount TransfersSome major token contracts (including certain versions of USDT) allow a "Transfer From" function with a zero amount without requiring a private key signature from the sender.The attacker can initiate a 0 USDT transfer from your wallet to their vanity address. Because it is a "real" interaction on the USDT contract, it appears in your transaction history as a legitimate (though $0) entry, ready to be copied.3. Small "Real" Value TransfersTo bypass modern wallets that have started filtering out 0-value transactions, attackers have begun "investing" in their attacks.They can send a tiny amount of actual crypto (e.g., 0.01 USDT) to your wallet. Because this is a genuine transfer with value, it often bypasses spam filters and sits at the very top of your "Received" or "Recent" list.How to Protect Your AssetsWhile you cannot stop someone from sending you "dust" or spoofing a transaction to your address on-chain, you can control how you interact with that data.1. Use a Security-First Wallet (e.g., Binance Wallet)Your first line of defense is your wallet interface. Binance Wallet is designed to mitigate address poisoning risks by default:Advanced Spam & Dust Filtering: Binance Wallet automatically identifies and suppresses records from malicious or non-standard contracts. Crucially, this includes a robust filtering system for zero-amount transfers and ultra-low-value "dust" transactions that are specifically crafted to poison your history. By ensuring your UI only displays meaningful and legitimate activity, we remove the threat at its source before you even have a chance to copy a malicious address.Similarity Alerts: If you attempt to send funds to an address that looks suspiciously similar to a frequent contact but isn't an exact match, Binance Wallet will trigger a high-risk warning.2. Leverage the Address Book FeatureStop copying from transaction histories.For any address you interact with more than once (exchanges, friends, or your own cold storage), save it to your wallet’s address book and give it a clear alias.When sending, select the contact by name rather than copying a string of characters.3. The "Middle Character" RuleNever verify an address by just the first 4 and last 4 characters.Check the first 4, the middle 4, and the last 4.Attackers almost never match the middle of the string because the computational power required to match the entire 42-character string currently makes it too burdensome.4. Perform a Test TransactionFor significant sums, always send a small "test" amount first. Verify the receipt on the other end, and only then proceed with the full amount using the exact same confirmed address.Final ThoughtsIn Web3, there’s no “undo” button, and attackers are betting you’ll trust a familiar-looking fragment instead of verifying the full destination. The good news is that address poisoning is a habit-driven attack, which means it’s also preventable: treat transaction history as untrusted, rely on an address book or verified contacts, and use a security-first wallet like Binance Wallet that filters spam and flags lookalike addresses. Slow down, confirm the full address (including the middle), and when the amount matters, send a test transfer first – because a few extra seconds of verification can save you from an irreversible loss.Further ReadingStay Safe From Smishing – Activate your Anti-Phishing Code Today No Room for Spam Tokens in Your Web3 Wallet | Binance Blog Web3 Wallet Security: How Fake Approval Scams Exploit the Revoke Function

Main TakeawaysIn large-scale data platforms, too many small files can become a production reliability issue, increasing metadata overhead, amplifying reads, driving higher tail latency, and causing job failures.Small File Doctor is Binance’s in-house framework that turns small-file cleanup from scattered scripts into a governed system, reducing small files from about 59 million to 2.9 million and saving around $90,000 to $100,000 per year in compute and storage costs.The core design goal is to make file optimization safe to run continuously in production while focusing effort only where it measurably improves latency, stability, and cost.Modern platforms run on data pipelines. “Production” in this context means the always-on systems that ingest, transform, and serve data used by real products – monitoring, fraud detection, analytics, customer support, finance, and many other workflows that need to complete on schedule. When those pipelines slow down or fail, the impact shows up as delayed dashboards, missed service-level agreements, degraded user experience, or reduced ability to detect issues quickly.One of the most common causes of hidden performance degradation in large data warehouses is small files. As data systems scale, frequent writes and partitioned storage can create tens of thousands of files per table or partition, each only a few KB to a few MB. The result is a system that spends more time opening files, reading metadata, and scheduling work than doing useful computation.This post explains how Binance productized small-file optimization into a production framework, Small File Doctor, and why a “platform solution” is often the only reliable answer once the number of tables and partitions grows beyond what ad hoc scripts can handle.What is a “Small File,” and How it Can Become a ProblemSmall files are not inherently bad. They become a problem when the count grows so large that the platform pays a fixed cost repeatedly: listing files, reading metadata, opening connections, and scheduling tasks. In distributed processing engines, those fixed costs compound, especially when downstream jobs scan many partitions at once.That combination – lots of partitions and lots of small files inside each – increases read amplification and makes tail latency worse. Tail latency matters because a pipeline usually finishes only as fast as its slowest stage. Once the 99th-percentile time grows unstable, teams see missed service-level arrangements (SLAs), retries, out-of-memory errors, and intermittent failures that are difficult to reproduce.The challenge is that small-file cleanup is easy to describe but hard to run safely at scale. Rewriting data in bulk touches storage, compute, and query engines. Without guardrails, a well-intended “merge files” job can become a new source of incidents.What Small File Doctor is Designed to DoSmall File Doctor is an internal framework that continuously identifies where small files actually matter, safely rewrites the underlying data into healthier file sizes, and logs every action so teams can measure impact.There are three main goals:Improve performance by converging file sizes toward a reasonable target – in our case, around 256 MB – which reduces metadata overhead and read amplification.Reduce operational burden by automatically discovering hotspots and supporting different table layouts.Provide governance: every rewrite is recorded so optimization can be tied to measurable outcomes like latency, stability, and cost.How the Framework Decides What is Worth OptimizingIn a large warehouse, the main risk is spending resources “cleaning” tables that do not affect production outcomes. Small File Doctor starts by identifying candidates using storage metadata and usage signals, then narrows the focus using how data is consumed in practice.First, it inspects storage metadata from systems like S3 and HDFS to calculate file counts and size distributions across tables and partitions. This surfaces obvious hotspots, such as directories with very high file counts and a large share of tiny files.Next, it prioritizes based on access patterns. The most damaging small-file cases usually happen when a job scans a wide window of partitions in one run, and each partition is filled with small files. That is what drives the worst metadata overhead and the biggest IO pressure. By contrast, a table where downstream jobs only ever read the latest partition rarely becomes a dominant tail-latency driver.To estimate the real consumption window, the system analyzes Spark, Hive, and ETL code paths and job behavior to infer whether jobs scan one day, seven days, thirty days, or more in a single run. Tables that consistently behave like “T minus 1 only” are typically excluded. This is less about purity and more about ROI: optimize where it moves latency and stability rather than where it feels tidy.Finally, selected tables and partition ranges are written into a configuration table that acts as an optimization backlog, with statuses that make it safe to process in controlled batches.Small File Doctor Architecture and Design: a Platform WorkflowAt a smaller scale, teams often rely on for-loop scripts, iterating through tables, rewriting files, and hoping nothing breaks. At Binance scale, this approach can become fragile. There is no clear record of what ran, whether it helped, which tables matter most, or how to keep the work from interfering with production workloads.Small File Doctor replaces that with a continuously running workflow: take an explicit optimization backlog, compute directory-level stats, decide whether a merge is worth performing, execute safely, and log results for measurement and audit.When a merge is triggeredFor each target directory – typically one partition for partitioned tables, or the full directory for non-partitioned tables – the framework estimates what a healthy file count would be under a target file size, then compares it to the actual file count and average file size.It also includes basic safety rules to prevent wasted work, such as skipping directories that are too large for the configured time window, avoiding merges when there is only one file, and requiring that the average file size is materially below the target before triggering a rewrite. These controls are designed to prevent the system from repeatedly reprocessing the same directories with minimal benefit.How Small File Doctor merges files safelyThe execution principle is “merge without changing business logic, and never risk reading and overwriting the same data path at the same time.”The framework reads data using Spark, coalesces it to reduce output files without forcing expensive global shuffles, and writes results back through SQL or Hive table semantics. That matters because the SQL layer can enforce safety constraints around overwrite behavior and reduces the chance of accidental read-write conflicts.Partitioned tables are handled at the partition directory level. The system reads only the target partition, coalesces output, registers a temporary view, and overwrites that partition through SQL semantics so only the intended slice is touched.Non-partitioned tables are trickier because there is a single directory. The framework avoids unsafe “read and overwrite same path” patterns by using a fixed staging table with the same schema. Data is written to staging first, then safely overwritten back into the original table from staging, keeping read and write paths separated.Production Safeguards and Measurable ImpactBecause this is bulk rewriting, production guardrails are essential. The framework limits concurrency to avoid overloading clusters, runs within defined off-peak windows, and avoids optimizing hot partitions that may still be actively written.It also maintains a governance log that tracks before-and-after file counts, timestamps, and job status per table and partition. That enables idempotent behavior – a partition is optimized at most once – and supports resuming work after interruptions without duplicating effort.Small File Doctor has already optimized 533 tables, reduced small files from about 59 million to 2.9 million, and eliminated read-stage failures linked to small files in the workloads tracked. Based on downstream cost models, the first layer of jobs alone is estimated to save around $90,000 to $100,000 annually, with additional upside as coverage expands.Roadmap: From Offline Cleanup to Pproduction-Integrated OptimizationToday, Small File Doctor runs asynchronously during off-peak windows, which keeps it decoupled from upstream production pipelines. The tradeoff is timing: downstream jobs on the same day may still run against unmerged partitions.The next phase is deeper scheduler integration, where a partition is merged and validated immediately after it is produced, and only then marked ready for downstream consumption. This would turn file health into a built-in step of the production definition of “done,” bringing performance improvements closer to real-time.Final ThoughtsAt Binance’s scale, small files stop being housekeeping and become an infrastructure constraint: they increase tail latency, destabilize jobs, and waste compute overhead. Addressing that reliably requires a governed system that prioritizes the right data, rewrites safely, and ties work to measurable outcomes.Small File Doctor reflects a broader pattern in production engineering: once a bottleneck becomes systemic, the solution needs to be systemic too. Building these kinds of internal frameworks is part of how Binance keeps critical pipelines reliable as products, users, and activity all scale at the same time.Further ReadingInnovation at Binance – Optimizing Real-Time Feature Pipelines Through Job MergingStrategy Factory: Binance’s AI-Powered Rule Engine for Risk and Fraud DetectionBinance AI Explained: Get AI-Powered Instant Token Analysis, Content Insights, and Trading Ideas

Main TakeawaysBinance has expanded its multi-city Blockchain Yatra to Bengaluru, the fifth stop in the Web3 education tour across India.The Bengaluru edition coincided with India Blockchain Week 2025, creating a week of community engagement spanning developers, founders, and students.Binance engaged with India’s Web3 community through talks, panels, and in-person sessions focused on responsible blockchain innovation.We have expanded our multi-city Blockchain Yatra to Bengaluru, marking the fifth stop in Binance’s nationwide Web3 education tour. The Bengaluru edition coincided with India Blockchain Week (IBW) 2025, bringing together the Web3 community for one of the country’s largest industry gatherings.India’s Web3 LandscapeIndia is home to more than 1,200 Web3 startups  and nearly 12% of the global blockchain developer pool. The state of Karnataka, anchored by Bengaluru, accounts for roughly one-third of the country’s Web3 ecosystem – supported by 18,000 startups and a dense concentration of engineering and product talent. The recently approved Karnataka Startup Policy 2025-2030, with a ₹518 crore (approximately 62 million USD) allocation to foster 25,000 deep-tech startups, adds further momentum to the region’s innovation ecosystem.Binance at India Blockchain WeekDuring India Blockchain Week (IBW) 2025, Binance representatives participated in keynotes, panels, and community engagements with developers, founders, and students, focusing on responsible blockchain innovation and practical adoption across the region.SB Seker, Head of APAC at Binance, used his keynote to frame the region’s shift toward infrastructure-led adoption and explained why India stands out as a builder market. He noted that “Across APAC, we are moving beyond speculation toward real, regulated infrastructure,” pointing to governments implementing guardrails, institutions tokenizing real-world assets, and stablecoins being developed within regulatory frameworks.Looking at India specifically, Seker highlighted the country’s deep talent pool, strong digital foundation, and emerging on-chain tokenization initiatives in sovereign and commercial applications as key advantages. “If regulation and innovation align, India could lead not only in building but also in defining responsible blockchain adoption.” He added that Binance’s role is “to support that journey through education, technology, and governance.”Seker also joined the IBW panel titled The Role of Crypto Platforms in Empowering Local Innovation where he discussed developer-led innovation, tokenization opportunities, and the shift toward regulated, infrastructure-driven adoption across APAC. He also highlighted Binance’s focus on education, talent enablement, and real-world blockchain applications across India.Blockchain Yatra in BengaluruThe Bengaluru edition of Blockchain Yatra brought together students, developers, founders, and Web3 enthusiasts. The event built on the success of previous stops in Visakhapatnam, Ahmedabad, Chennai, and Mumbai, with a continued focus on direct engagement with builders and students.Reflecting on why Bengaluru was selected for this leg of the tour, Seker explained: “Bengaluru’s vibrant developer ecosystem and entrepreneurial spirit make it an ideal venue for the Blockchain Yatra. Aligning the event with India Blockchain Week enables us to connect deeply with the community at a pivotal industry gathering, reinforcing our commitment to nurturing India’s Web3 ecosystem through education and collaboration.”Final ThoughtsThe Bengaluru edition of Binance Blockchain Yatra brought together students, developers, founders, and Web3 enthusiasts for in-depth conversations about building in Web3. As we continue our tour across India, our focus remains the same: practical education, direct connection, and clearer pathways for the next wave of talent to learn, grow, and contribute to the blockchain ecosystem.Further ReadingBinance Blockchain Yatra Reaches Ahmedabad – Gujarat’s Entrepreneurial Spirit Meets Web3 InnovationMumbai Lights Up the Blockchain Map with Binance Blockchain YatraBinance Blockchain Yatra Reaches Chennai – A Confluence of AI, DeepTech, and Web3 Innovation

Main TakeawaysIn 2025, Binance became the first global exchange to secure full authorization under ADGM’s internationally recognized framework and crossed 300 million registered users worldwide, signaling a new phase where scale and regulatory scrutiny advance together.Binance remained a primary venue for global crypto liquidity, with $34 trillion traded on the platform in 2025 and spot volume exceeding $7.1 trillion, alongside an 18% increase in average daily trading volume across all products.Crypto’s center of gravity expanded beyond the order book as Binance Alpha 2.0 surpassed $1 trillion in trading volume with 17 million users, while Binance’s security, compliance, risk, and governance efforts delivered measurable user protection outcomes at scale.Binance’s State of the Blockchain 2025 year-in-review report is out, highlighting the most important themes and growth metrics across regulation, liquidity, Web3 discovery, institutional adoption, user protection, and the everyday use of crypto. For the full set of findings, product updates, and data points, you can read the full report available here in English.Two milestones arrived close together at the end of 2025: Binance became the first crypto exchange to secure full authorization under the Financial Services Regulatory Authority (FSRA) of ADGM’s rigorous regulatory framework, allowing regulated global trading, and our community crossed 300 million registered users worldwide. Together, they reflect how expectations in our industry are changing as crypto platforms are increasingly judged as financial infrastructure – on governance, resilience, user protection, and the ability to perform under stress, in addition to scale, liquidity, and the strength of the user community.Trust as Infrastructure: Regulation, Resilience, and Measurable OutcomesThe ADGM framework covers governance, risk management, custody, clearing, and consumer protection, aligning crypto market structure more closely with the expectations placed on traditional financial venues.The report also emphasizes that trust can be measured in outcomes. Since 2023, Binance has reduced direct exposure to major illicit funds categories by 96%. In 2025, Binance’s controls helped prevent $6.69 billion in potential fraud and scam losses for 5.4 million users. Over the same period, Binance processed 71,000+ law enforcement requests, supported the confiscation of around $131 million linked to illicit activity by law enforcement partners, and delivered 160+ law enforcement training sessions.Trust is also built by reducing unnecessary friction for legitimate users. One example that the report highlights is Enhanced Due Diligence redesign, where we simplified submission steps and improved pass rates in a short implementation cycle, aiming to make compliance stronger without making user experience harder than it needs to be.Where Liquidity Lives: Depth, Participation, and New Discovery FlowsLiquidity still determines the trading experience users actually get: spreads, slippage, and execution reliability. In 2025, Binance processed $34 trillion in trading volume across all products, with spot trading volume above $7.1 trillion. All-time traded volume reached $145 trillion across all products.At the same time, participation is becoming more diverse. Binance expanded spot markets to 490 coins and 1,889 spot trading pairs, and futures coverage to 584 coins. Tools also shifted user behavior toward more structured participation, including simulation and automation. Binance Demo Trading, a unified spot and futures demo environment with virtual funds, was used by more than 300,000 users as a way to learn interfaces and test strategies before trading with real funds. In futures, more than 1.2 million users subscribed to Smart Money, a live suite for tracking aggregated behavior signals from profitable traders.The report also highlights a meaningful shift in where users discover and engage with new projects. Binance Alpha 2.0 became a major discovery surface integrated into the Binance experience, surpassing $1 trillion in trading volume and onboarding 17 million users in 2025. It distributed $782 million in rewards across 254 airdrops. With that scale came added integrity requirements: the report notes that risk controls blocked 270,000 dishonest reward participants attempting to game campaigns, helping keep rewards aligned with real users rather than bot activity.Institutions in Motion: From Pilot Programs to Operational WorkflowsAnother theme running through the report is institutional adoption shifting from experimentation to integration. Institutions are increasingly looking for crypto infrastructure that fits governance, collateral, reporting, and settlement requirements they already use. The increasing scale of their presence was reflected on Binance over the past year as institutional trading volume grew by 21% compared to the year before, and OTC fiat trading volume shot up by 210%.In 2025, tokenization moved closer to operational use cases, including tokenized funds used as eligible off-exchange collateral under Binance’s institutional collateral framework. The report also describes how modular offerings, including white-label rails through Crypto-as-a-Service, are enabling regulated firms to offer digital assets without rebuilding full exchange infrastructure from scratch. Account structures offered through Fund Accounts, Binance Wealth, and Binance Prestige reflect how capital is organized in traditional finance, with formats that support managed strategies, entity onboarding, and dedicated service models.Everyday Crypto: Local Rails, Payments, and EarningBeyond trading and discovery, crypto adoption depends on whether users can fund accounts in local currency, move value easily, and choose earning tools that match their risk preferences. In 2025, Fiat and P2P volume grew 38%; Binance Pay users grew 30% year over year, and acceptance expanded massively to more than 20 million merchants. Across its line of products, Binance Earn distributed $1.2 billion in rewards to users in 2025.Final ThoughtsDigital finance is becoming more standards-driven, more liquid where execution is reliable, and more user-directed as discovery and participation become easier. Binance’s 2025 numbers show scale, but the deeper point is what that scale requires: regulatory anchors like ADGM authorization, resilience and security programs that prevent real losses, strong data protection and AI governance, and product design that reduces friction for legitimate users while raising the cost of abuse. This blog only summarizes a selection of the report’s findings. The full report includes deeper breakdowns, supporting context, and additional product and infrastructure updates.Read the complete State of the Blockchain 2025 report here.Further ReadingThe Liquidity Flywheel That Powered Binance to 300 Million UsersBinance Becomes The First Crypto Exchange to Secure a Global License Under ADGM FrameworkRaising the Bar for Responsible AI in Crypto: Binance Earns ISO/IEC 42001 CertificationDisclaimer: 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. This content is for general information only and should not be construed as financial or investment advice. For more information, see our Terms of Use and Risk Warning.

Main TakeawaysBinance has appointed Tarik Erk as Regional Head for MENAT, overseeing the Middle East, North Africa, and Turkey, and as Senior Executive Officer, Abu Dhabi.Erk brings more than 10 years of experience across regulatory compliance, market expansion, product launches, and government affairs in digital assets and financial services.The appointment supports Binance’s long-term focus on regulatory engagement, institutional trust, and sustainable growth across MENAT.We are excited to announce the appointment of Tarik Erk as the new Regional Head for Binance MENAT, overseeing the Middle East, North Africa, and Turkey, and as Senior Executive Officer, Abu Dhabi. The appointment comes as the region continues to develop as a hub for digital assets and financial innovation, and reflects Binance’s focus on building regulated, trusted access to digital finance across the region.Originally from Buffalo, New York, Erk brings more than a decade of experience spanning regulatory compliance, market expansion, product launches, and government affairs across the digital asset and financial services sectors. His background aligns with Binance’s work to operate securely and compliantly while expanding access to digital asset services in key markets.A Strong Record in Digital Assets and Financial ServicesErk began his digital-asset career in 2017 at Paxos in New York City, after holding roles at major financial institutions including JPMorgan Chase and Commerzbank. Before joining Binance, he served as General Manager for the Middle East and Africa for a digital-asset firm, where he focused on expanding regulated operations in the region.He has also been recognized as one of the most influential figures in Singapore’s fintech ecosystem by FinTech Nation and previously served as a board member of the Singapore Cryptocurrency and Blockchain Industry Association.Supporting Binance’s Regional Growth and Regulatory EngagementErk’s appointment reflects Binance’s strategic emphasis on regulatory engagement, institutional trust, and sustainable growth in MENAT, as the region continues to advance digital-asset frameworks and market infrastructure.“I am proud to take on this exciting opportunity at Binance as the company continues to navigate evolving regulatory frameworks and strengthen its presence across the MENAT region,” said Tarik. “I look forward to exploring new growth opportunities and helping shape the future of digital finance within the region and beyond.”Final ThoughtsAs regulatory frameworks for digital assets continue to mature across the Middle East, North Africa, and Turkey, regional leadership that combines compliance experience with operational execution becomes increasingly important. Tarik Erk’s appointment supports Binance’s work to engage constructively with regulators, expand access responsibly, and help build the infrastructure that will shape the next phase of digital finance in MENAT.Further ReadingBinance Becomes The First Crypto Exchange to Secure a Global License Under ADGM FrameworkBinance and Pakistan Partner to Advance Digital-Asset Innovation and Regulatory DevelopmentRaising the Bar for Responsible AI in Crypto: Binance Earns ISO/IEC 42001 CertificationDisclaimer: 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. Not financial advice. For more information, see our Terms of Use, Binance Pay Terms of Use and Risk Warning.

Main TakeawaysBinance built Web3’s first vision-language model that generates fact-checked meme token backstories from names, symbols, logos, and X posts in under 2 seconds across multiple chains.Each narrative is rigorously scored for factuality, fluency, style, and relevance through an automated evaluation system to try to ensure high-quality and trustworthy outputs.Integrated into Meme Rush, these narratives help users instantly understand token origins and motivations, reducing research friction. When launching a token becomes as easy as posting a meme, you get exactly what you’d expect: an explosion of new assets everywhere. Platforms like Pump.fun and Four.meme now let anyone create a meme coin in minutes with no need for coding, planning, or complex tokenomics – just a few clicks to deploy. While it’s fun, chaotic, and wildly creative, it also means the memecoin space is being flooded with new tokens rapidly.  Problem: Information Gap in MemecoinsThe frictionless creation has opened a huge information gap. New tokens appear every minute, often with no context about their origins, creators, or even the meme behind them. Traders are left guessing, trying to make sense of a constant stream of new coins with only a name and a ticker to go by. Add in vastly different meme cultures across chains and regions, with jokes that mutate daily on X, even pros can struggle to keep up.Bridging the Gap with Meme RushBinance Wallet’s Meme Rush aims to solve this problem by giving every token an AI-generated narrative. Instead of digging through X or Telegram for context, users can now see the “why” behind each meme token instantly – all in one place.Figure 1. Binance Wallet Meme Rush interface. For illustration purposes only.Behind the scenes, the system constantly scans both on-chain and off-chain sources to collect key details for new meme tokens – name, symbol, icon, description, and links – from more than 10 launch platforms like Pump.fun, Four.meme, and PancakeSwap. This automated process lets Binance index new tokens within seconds.That metadata is then sent to our in-house VLM, which generates a concise, easy-to-read narrative. To keep everything fast during peak traffic, we cache these narratives in a high-performance, low-latency database for quick loads and seamless access.On the front end, the narrative appears instantly when users hover over the narrative icon on a token profile – giving them quick context without needing to open new tabs or search elsewhere.Figure 2. When you move your cursor over the star icon beside the token’s name, the narrative appears.The results are tangible: users explore more, engage deeper, and feel more confident navigating with Meme Rush.Beyond powering a single feature, the narrative model cements Binance as the first major exchange to fuse AI narrative with Web3 discovery, hopefully boosting trust, retention, and community energy across the memecoin market.The Mechanics Behind Meme RushTo ensure Meme Rush captures not just what a token is, but why it exists, we fine-tuned a vision-language model to read both text and logos, trained it across multi-chain meme ecosystems, built an efficient data pipeline to track emerging token trends, and distilled insights from larger teacher models to stay aligned with evolving meme culture.A Vision-Language AI for Near Real-Time NarrativesWe built a first-of-its-kind AI narrative system for meme tokens using a compact vision-language model (VLM) fine-tuned on in-house token data, including name, symbol, logo, description, and X posts. Trained under a teacher-student framework with larger models like Grok-3 and Claude 3.7 Sonnet, the VLM produces concise, factual narratives in under two seconds. Its multimodal reasoning ensures every token, from obscure to viral, comes with an instant, grounded story which helps every user with their research. Multi-Chain Support: BNB Smart Chain, Solana, Base, and MoreOur narrative system is chain-agnostic, providing instant context for newly launched meme tokens without users leaving Binance Wallet. Trained on data from multiple ecosystems, the AI understands different naming conventions, memes, and cultural trends, ensuring users get as consistent and clear a story as possible, no matter which blockchain a token originates from.Ensuring Quality Across Factuality, Fluency, Style, and RelevanceWhile narratives are generated in seconds, we strive to maintain strict quality control to ensure each output is factual, clear, and relevant. Each narrative is evaluated along four key dimensions:Factuality: Information aligns with verified token data and avoids speculation or exaggeration.Fluency: Text reads naturally, without grammatical or structural errors.Style: Maintains a neutral, professional tone while staying approachable for meme-token audiences.Relevance: Focuses on the token’s origin and inspiration, omitting unnecessary details.We also combine manual review with an LLM-as-judge approach on Comet’s Opik Platform to benchmark and ensure consistency in model performance.Binance’s Roadmap for Meme RushLooking ahead, we plan to enhance the Meme Rush narrative system by continuously updating the model through scheduled fine-tuning, capturing the latest memes, token launches, and evolving language trends. We’re also planning to integrate broader world knowledge, to expand the model’s understanding by letting it learn emerging global memes, social dynamics, and internet subcultures. This framework enables it to infer links to generate narratives for previously unseen tokens. Together, these upgrades will make the AI not just reactive but proactively insightful, connecting trends, culture, and markets in real time across the Web3 ecosystem.Final ThoughtsAs AI-driven insights become key in crypto, Binance is leading the charge. Meme Rush takes token discovery to the next level, giving users instant context while letting projects share their stories effortlessly. Of course, this AI tool should be used as a tool to assist with your research, but it should be one of many considerations before making an investment. As always, do your own research and only invest in assets which suit your risk appetite. Next time a new coin leaves you scratching your head, skip the guesswork – just hop into Meme Rush and let our AI tell the story!Further ReadingFrom Joke to Global Phenomenon: What Are Memecoins and Why Are They So Popular?Innovation at Binance – Optimizing Real-Time Feature Pipelines Through Job MergingIntroducing Binance Indication of Interest (IOI) – the Essential Liquidity Discovery Tool for Institutional Crypto TradersDisclaimer: This AI tool, and its outputs, are provided to you on an “as is” and “as available” basis, without representation or warranty of any kind. Binance does not endorse or guarantee any AI-generated information. Not financial advice. Digital asset prices can be volatile. You are solely responsible for your investment decisions and Binance is not liable for any losses. See our Terms of Use and AI Terms.

Fellow Binancians, On 2025-12-27, the Flow (FLOW) network experienced a significant security breach. A hacker exploited the system and minted a significant amount of tokens. Upon learning of the incident, Binance acted swiftly to protect our users and the broader community. Our team traced and successfully froze the hacker’s remaining funds on our platform. These actions were taken to minimize damage and safeguard the interests of Flow token holders.We want to emphasize the following key points regarding this incident and our ongoing engagement with the Flow project team:Despite multiple attempts by Binance to reach out and offer support to the Flow project team, there has been no meaningful communication or collaboration from their side since the hack happened.  If the project team decides to proceed with an isolated recovery solution to remediate the hack, it is critical that centralized exchange (CEX) addresses, such as Binance’s wallets, are excluded from this recovery process since affected users on various CEX platforms have already been credited accordingly.  We also urge the Flow project team to provide a detailed post-mortem report explaining the root cause of the hack and the measures they will implement to prevent similar incidents in the future. Binance is ready to offer security support if needed to help strengthen the Flow ecosystem’s defenses.To our valued users, please be assured that Binance is committed to supporting any users affected by this incident. We will work diligently to provide the necessary assistance to help protect your assets and maintain your trust.We remain committed to transparency and will keep you updated as this situation evolves.Thank you for your support!Disclaimer: 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. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Past performance is not a reliable predictor of future performance. Before trading, please take into consideration your level of experience, purchase objectives, and seek independent financial advice, if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Binance based on your individual circumstances. Not financial advice. For more information, see our Terms of Use and Risk Warning.

Dear Binance Users, Partners, and Community Members:Greetings.As we sit down to write this, 2025 is drawing to a close. As we look back, this year’s letter feels different from any we’ve written before.We have spent much of the decade with our heads down building – often under pressure, often questioned and needing to prove that we were serious about doing this the right way. This year, when we finally stopped to look up, we saw that the movement behind us had grown to a number that made us hold our breath: 300 million.Today, about 1 in 27 people worldwide has trusted Binance to power and guide their crypto journey. Digital assets are no longer limited to geeks or a hidden corner of finance – it has become part of everyday life.Through the Mist: Resilience Tested Looking back, the journey this year was far from easy for anyone in the market.We went through the “Project Stargate” AI hype cycle, then the shock of “DeepSeek Monday.” Trade tensions escalated, and at one point a U.S. government shutdown even paused key data releases, leaving markets effectively flying blind. Volatility, black swans, and sentiment swings were constant.But it was precisely within this "mist," where directions were hard to see, that our industry demonstrated remarkable vitality.We saw the guiding lights of regulation turn on. The signing of the GENIUS Act on July 18 was perhaps the strongest in the series of signals the industry had been waiting for: regulation is no longer perceived as the Sword of Damocles hanging over heads, but a moat protecting innovators.With 70% of major global jurisdictions now rolling out clear frameworks, and new FASB accounting standards ensuring corporate crypto assets are no longer a black box, anyone who is watching knows that the "Wild West" era of crypto is over. A steadier, more predictable new epoch has begun.Connecting Two Worlds: No More Walls, Only BridgesFor much of crypto’s history, narratives in this space revolved around contrasts and opposites: centralized or decentralized? Retail or institutions?In 2025, the answer became clear: convergence.At Binance, we witnessed this convergence firsthand. This year, retail users remained our beating heart, with global retail-driven volume surging by 125%. Meanwhile, institutional adoption is also climbing: in a recent survey of global professional investors, 30% stated they have already invested in digital assets, with another 40% planning to do so within the year. Behavior matches these declarations: on Binance, institutional trading volume grew 21% year-on-year.This is part of a larger picture of institutional conversion and expansion into the digital-asset space. Whether it’s the stunning $30 billion+ net inflow into ETFs, or giants like BlackRock and Franklin Templeton moving nearly $10 billion in sovereign bonds on-chain, one thing is clear: Wall Street has learned the language of blockchain.Together, this demonstrates a shared enthusiasm between retail and institutions, and this vitality found its expression where liquidity is deepest: on Binance. On most days in 2025, nearly half of the global BTC and ETH trading volume took place on our platform. At the same time, over 60% of mainstream on-chain transactions are completed through Binance Wallet. When the wave hits, both retail and institutional users gravitate toward the safest, smoothest trading harbor – helping us reach $34 trillion in total product trading volume this year.To make moving between on-chain and off-chain worlds seamless, we brought the full Web3 experience directly into the exchange via Alpha 2.0. Over the past year, it handled over $1 trillion in volume, with 17 million users exploring new projects and claiming $782 million in airdrop rewards. Here, the boundary between centralized and decentralized disappears—you simply enjoy the fun of finding value.Trust: The Hard Way, The Right WayOf course, the trust of 300 million users is a huge responsibility. It means not only processing massive transaction volumes but also guarding our users' funds. Today, we can proudly say that Binance has become one of the world's primary custodians of digital wealth: our user asset balances, publicly verified via Proof of Reserves (POR), have reached $162.8 billion. Securing full authorization from the Financial Services Regulatory Authority (FSRA) of ADGM, Abu Dhabi’s international financial center, is one of the strictest regulatory exams in the world, and this year, we passed it. We also secured 29 certifications globally (including ISO 27001, ISO 42001, PCI-DSS, SOC 1/2), introduced a Responsible AI Framework aligned with new global standards, and implemented a company-wide digital resilience strategy.Based on industry data, we reduced our direct exposure to major illicit flow categories by 96% between 2023 and 2025. Our AI models and risk controls intercepted $6.7 billion in potential fraud losses for 5.4 million users. Our Red Team, through countless attack simulations, forced the phishing failure rate down from 3.2% to a hard-fought 0.4%, vastly improving our organization’s resilience to deceptive social engineering tactics. We also helped over 50,000 users targeted by external scams recover $11.7 million of the money they thought they’d lost forever.In crypto, as in anywhere in finance, risk will always exist. But we can promise that behind your every trade, transfer, and login on Binance is an organization that treats your security as its core mission – and is willing to do the hard things, over and over, to keep earning your trust.2026: When the Wind RisesStanding at the tail end of 2025, we are more optimistic than ever.If 2025 was about navigating through the mist, then for 2026, we can sense the wind picking up.Look at the macro trends: Despite ongoing trade disputes, the global economy has seen robust growth this year; The tech revolution is on the eve of drastically boosting human productivity (AI, Quantum, Fusion); Governments are channeling more fiat to households and businesses (tax rebates, subsidies);The central bank’s liquidity gates are reopening (Federal Reserve restarting balance sheet expansion + continued rate cuts); And the upcoming "RFIA/CLARITY Act" is set to clarify the "rules for assets on-chain" (just as GENIUS clarified "money on-chain").These five powerful forces are pushing the market from "uncertain expansion" to "certain expansion." It means the underlying forces now point in one clear direction: more liquidity, and more real use. When macro tailwinds (growth, easing policy, fiscal support) combine with regulatory clarity and real institutional and sovereign adoption, the long-term trajectory of on-chain assets and applications becomes far more predictable.What excites us even more is that the next wave of crypto growth won't just rely on sentiment and hype. It will be dual-driven by sovereign-level capital and enterprise-grade applications.When nations start discussing Bitcoin as a strategic reserve, and when assets on-chain grow from billions to trillions, this can no longer be summarized simply as a "bull market." Rather, this is a fundamental reshaping of financial infrastructure.In ClosingNo matter how the world changes, Binance’s original mission remains unchanged: Freedom of Money.We will continue to be the "road builders." Whether you are a young man buying your first crypto with your savings, or an institutional trader managing billions; whether you are discovering the next big thing in Web3 via Alpha, or just buying a cup of coffee with Binance Pay, we will always be right there with you.In the coming year, we will continue to increase our investment in security, compliance, and education. From AI-driven security projects to next-generation financial literacy education through Binance Junior and to Binance Charity’s ongoing support for global financial inclusion – with over $43 million donated to benefit 4 million people so far, including more than 270,000 people helped in 2025 alone – we are committed to ensuring that no matter what stage you are at in your crypto journey, you can find a safe and trusted home at Binance.Thank you for every click, every trade, and every bit of trust in 2025. Let’s keep walking this path together. Let’s witness how a more open, fair financial world becomes reality, bit by bit, in our hands.One last thing: If you think that Binance could do even better, you are exactly the kind of person we’re missing. Come join us, let’s BUIDL together!Happy New Year!Yi He & Richard TengBinance Co-CEOsDecember 31, 2025

Main TakeawaysHoliday periods can see thinning liquidity and sharper volatility in financial markets. Reduce leverage, use limit orders, and avoid trading reflexively when distracted.Dive into this blog post to discover the best tools, strategies, and mindset to cultivate in order to be successful in the market over the holiday season. When in doubt, it is perfectly reasonable to take a pause and take a break as everybody else does. Every December, markets enter an unusual state. Trading desks empty, institutions close their books, and retail traders disappear into travel and family plans. Traditional finance calls this the holiday effect. It is characterized by thinner liquidity, choppier price action, and moves that can hit harder than usual.Crypto inherits all these dynamics and sometimes even magnifies them. Unlike equities or FX, crypto doesn’t pause for Christmas, Boxing Day, or New Year’s: it trades nonstop. There’s no quiet period and no mercy for someone distracted by flights or gift wrapping.Holiday periods are high-risk by nature as order books thin out and using leverage gets tricky. Impulsive entries or market orders can get fulfilled in disastrous fashion. This guide explains why festive volatility happens, why retail traders suffer the most, and how to protect your capital.The Danger of Liquidity Drop Liquidity is the fuel that keeps price movement and discovery orderly. When liquidity dries up, even a modest order can distort price. This matters because in crypto, moves in prices trigger liquidations, margin calls, and cascading selloffs.During holidays, several overlapping forces shrink liquidity simultaneously. First, institutions reduce positioning to avoid mark-to-market exposure at year end. Second, market makers temporarily pull capital from order books. Third, automated strategies dominate flow because human traders are absent. Additionally, retail attention fragments into holiday life, leaving far fewer participants to absorb sudden orders.When fewer orders exist, price jumps between gaps. What would normally be a mild retracement becomes a sharp wick that clears stops and liquidates leveraged positions. This is the reason traders are at increased danger of getting “rekt” during the holidays. Holiday Volatility in PracticeRecent holidays show the pattern clearly. In 2020, Bitcoin slid from $24,000 to $21,900 on Christmas Eve and ripped to $28,000 before New Year’s. In 2023, BTC moved 7% in a single hour on December 26 due to shallow book depth on major futures venues. Thanksgiving weekends regularly produce flash wicks that trigger mass liquidations, especially on altcoin perpetuals.These price movements are rather predictable consequences of thin liquidity. A relatively small market order, which in June would barely shift price, can send the chart vertical or cliff-diving in December. Retail traders might mistake this as opportunity, whereas professionals see risk.The Truth About “Santa Rallies”Some traders believe that there is a predictable pattern of Christmas pumps and New Year’s breakouts that are called Santa Claus rallies. These narratives have roots in traditional markets, but they are not reliable in crypto. Crypto’s market structure is newer, its liquidity base thinner, and its leverage far higher.A rally during holidays doesn’t necessarily signal market strength – it may simply reflect “air pockets” in the order book. Likewise, a drop might not imply structural weakness but reflect an outsized reaction due to a temporary lack of bids.What Actually Happens in Thin MarketsThin markets behave like unstable floors. Instead of price being supported by layered buy and sell interest, orders sit far apart. Entering with a market order becomes like stepping on a loose floorboard: it collapses faster than expected.A $5 million BTC market sell might normally move price less than 0.2%. In December, the same order may slip through five price levels and drop the chart a full percent or more. On 10x leverage, that’s enough to erase a position. On 25x, it’s a liquidation.These moves get amplified by algorithmic trading. Bots scrape liquidity aggressively when spreads widen, and this behavior causes rapid, jagged moves that don’t reflect trend or narrative, just structural fragility.The Risks Retail Traders FaceMost retailers trade reactively. They enter because the chart looks “ready,” not because they’ve mapped liquidity conditions. Holidays punish this. There are several recurring hazards to watch for:When liquidity is shallow, slippage becomes a hidden cost. Traders think they bought at $89,000, only to find execution filled hundreds of dollars away.Flash wicks appear more often. These are violent price spikes that instantly reverse. They exist primarily because stop clusters and liquidation triggers are easy targets during low-participation hours.Liquidation cascades happen faster. Low liquidity means forced selling has outsized impact. When positions begin liquidating, the chain reaction accelerates.Assets that rely on speculative interest collapse first when attention disappears. Many have no structural demand to support price during holidays.How to Trade Holidays (and How Not To)The simplest protection is reducing leverage. If the conditions that normally justify 10x leverage are absent — depth, participation, predictable liquidity — then the leverage should be lower.Limit orders offer better protection than market orders. They avoid getting dragged through empty order books and help ensure you enter where you intend. Slippage can turn a good setup into a losing trade.Position sizing should shrink to reflect the environment. If a position is large enough to threaten your holiday mood, it’s oversized. Lower exposure also delays liquidation triggers and widens the safety margin.Stop losses and alerts must be placed before stepping away. The holiday effect is punishing precisely because it happens when traders are distracted. Setting conditional exits in advance removes emotional decisions and protects against sudden moves while you’re away from the chart.Finally, consider whether trading is necessary at all. There is no requirement to trade every season. Sitting in stablecoins or spot BTC, or waiting until January’s liquidity returns, is a legitimate strategy. In traditional finance, some funds explicitly avoid taking new positions in the final week of the year. Advanced Tools and Habits That HelpCheck Cross-Exchange Liquidity Gaps: Compare spreads and depth on multiple venues. If Binance shows $600M depth and another exchange shows $120M, wicks can trigger cross-platform arbitrage noise.Monitor Liquidation Heatmaps: Liquidation heatmaps are particularly useful in holiday periods. When liquidation clusters sit close to spot price, volatility tends to gravitate there. Holiday markets often revolve around liquidity hunts, and heatmaps reveal where the traps are. Tools like Coinglass or Hyblock visualize liquidation clusters. Avoid entering where liquidation zones are stacked tightly. Pay Attention to Perpetual Funding Rates: If funding is deeply negative or positive during low volume, that’s not conviction but exposure imbalance.Watch Stablecoin Flows: Large inflows to exchanges can precede buy pressure – but during holidays, patterns become less predictive.These tools don’t guarantee success, but they shift the trader’s mindset from blind prediction to calculated estimate. That shift is where risk management actually begins.Final ThoughtsThe smartest thing traders can bring to the market in December is humility. The second smartest is a trading plan that works even when you’re offline.Don’t let your PnL be determined by a wick created while you’re on a plane or in a restaurant. Protect your capital and your time, and let the market breathe.If a few days of not trading makes you feel like you’re “missing out,” remember:there is no fear of missing out when you’re the one who still has capital left to deploy when others have been liquidated.Further ReadingGetting into The Long Game of Crypto: A Guide to Winning Beyond The RushThe Long Game of Crypto: Understanding Crypto Market CyclesTop Lead Trader Tips — Master Rayn on Turning Volatility into OpportunityDisclaimer: 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. Not financial advice. For more information, see our Terms of Use, Binance Pay Terms of Use and Risk Warning.

Main TakeawaysNever share your Binance account login credentials with anyone, as your account is tied to your identity, your funds, and your transaction history. Binance is committed to protecting the security of its users and their funds. Read this blog to fully understand the risks associated with sharing or disclosing your account details. Make it a habit to regularly review your active sessions and API keys. Check which devices are currently logged into your Binance account and confirm that you recognize all of them. At Binance, your security and privacy are the foundation of everything we do. One of the most important rules for staying safe is also one of the simplest: never share your Binance account or login credentials with anyone. Not with friends, not with family, not with a business partner. Not for “joint investing,” “profit sharing,” or any “sure-win strategy.”Your Binance account is tied to your identity, your funds, your transaction history, and your security profile. Treating it as a shared resource may feel convenient or “trust-based” in the moment, but it opens the door to serious and often irreversible damage.Why Account Sharing Is So DangerousOn the surface, sharing an account can seem harmless: perhaps a sibling wants to “help” manage your trades, or a friend claims to have a proven strategy but no verified account of their own. Behind that small decision, however, lies a chain of risks you can’t fully manage.The first and most obvious danger is unauthorized access. Once someone else has your login details, they can enter your account at any time, from any device, whether you are aware of it or not. Even a trusted person can accidentally click on a phishing link, store your password insecurely, or leave a device unlocked. If that device is compromised by malware or stolen, your Binance account effectively becomes compromised too.Sharing your login also exposes your personal data. Your account contains sensitive information such as your KYC details, transaction history, and linked payment methods. Anyone with access can see how much you hold, what you trade, and how you move funds. That visibility can invite abuse, pressure, or even blackmail — not just from the person you shared with, but from anyone who accesses their device or email in the future.There is also the very real risk of financial loss. With full access, another person can place trades, enable margin or futures, create or adjust API keys, and withdraw funds. A single impulsive trade, misconfigured bot, or deliberate withdrawal can wipe out your entire balance. If that happens, it is extremely difficult to argue that the activity was “unauthorized” since you willingly gave away your credentials.Finally, account sharing violates Binance’s User Agreement. Our terms are clear: each account is meant to be used and controlled by one individual – the verified owner. Sharing breaches that agreement and may lead to restrictions, investigations, or even permanent suspension. In other words, attempting to make things easier by sharing can end with you losing access altogether.Real-World ConsequencesThese risks are not hypothetical. We see the fallout from account sharing every day.One victim stated: “I trusted my own brother with my login so we could trade together. One day I woke up to find my registered email and phone number changed. All my funds were gone.”In another case: “My friend asked to use my account for a ‘sure-win’ strategy. Two days later my 2FA was disabled, API keys created, and everything withdrawn to an unknown wallet.”These are not rare exceptions or dramatic edge cases; they are everyday examples of what can go wrong once control of an account is shared. Even when the person you trust has good intentions, circumstances change, devices are hacked. Relationships can sour, and arguments happen. What starts as “Let’s grow our money together” can quickly become “My balance is gone and I have no idea what happened.”We have also seen situations where users shared credentials for “joint investing” with partners or business acquaintances. When the relationship soured, one party quietly withdrew funds without consent. In a family setting, a relative with access to the account enabled high-risk strategies, such as leveraging or futures trading, and a short streak of bad trades wiped out everything.Once your login is shared, you are no longer the only one making decisions – but you are still the one who bears the consequences.Your account equals your responsibility. Never delegate that control.How to Protect YourselfStaying safe begins with a firm personal rule: never, under any circumstances, give out your password, 2FA codes, or login access – not in a message, over a call, as a screenshot, and definitely not to someone claiming they can “trade for you” with guaranteed profits.If family members or friends are interested in trading, support them in the right way: encourage them to open and verify their own Binance accounts. This keeps each person’s identity, risk profile, and transaction history separate. It also ensures that everyone is fully responsible for their own decisions and security.Next, make full use of Binance’s security features. Enabling passkeys and customizing your two-factor authentication (2FA) strategy adds multiple layers of protection to your account. Do not rely on a single factor, such as an email and password. Instead, pair your password with strong 2FA options and passkeys so that even if one element is compromised, your account remains difficult to breach.Withdrawal address whitelisting is another powerful safeguard. When you turn this feature on, your account will only allow withdrawals to pre-approved addresses. If an attacker or an untrusted “partner” gains access and tries to send your funds elsewhere, the whitelist acts as a hard barrier. It is the equivalent of deciding in advance which doors your money is allowed to exit through.Make it a habit to regularly review your active sessions and API keys. Check which devices are currently logged into your Binance account and confirm that you recognize all of them. If anything looks unfamiliar — a device, a location, or a login time you don’t remember — revoke that session immediately and change your password. Do the same with API keys: if you see keys you did not create, or no longer use, delete them. Unused or unknown keys are open doors you do not need.Most importantly, listen to your instincts. If someone pressures you to share account access for “joint investing,” “capital pooling,” or “easy profit sharing,” walk away. Legitimate investment opportunities never require you to share your personal exchange account, your credentials, or your security codes. A genuine partner or advisor will respect your need to keep your login private and will operate through proper, transparent arrangements.Remember: your Binance account is not a shared wallet or a group project. It is more like the keys to your house and your bank vault combined. You would not copy those keys for casual acquaintances or hand them out because someone promised fast profit. Your digital keys deserve the same level of protection.Safer Ways to Manage TradingIf you are a qualified user who needs more advanced management options, tools like sub-accounts can offer a safer structure. Rather than giving out your primary login, you can use separate sub-accounts for specific strategies or managed trading setups. This preserves clear boundaries and allows more granular control over permissions, without exposing your main credentials or identity.No matter what configuration you use, the core principle remains the same: keep your login details private at all times. Combine this with strong 2FA, passkeys, and withdrawal whitelisting, and you build a layered defense that is much harder to bypass.Educating the people around you is just as important. Talk to your loved ones about why individual account security matters. Explain that even well-meaning sharing can violate platform rules and put everyone at risk. A family that understands these risks is far less likely to be tricked by scammers or pressured into unsafe shortcuts.Final ThoughtsSecurity is an ongoing habit. The more informed you are, the better equipped you become to spot red flags early and avoid costly mistakes.To deepen your understanding, explore our FAQs, the Binance Stay Safe Blog, and the Binance Risk Sniper profile. These resources are regularly updated with practical tips, real-world case studies, and step-by-step guides on how to secure your account in an evolving threat landscape. Our recent blogs cover topics such as scam patterns, phishing tactics, and advanced account protections so you always have up-to-date security guidance at your fingertips.Your vigilance is the final and most important layer of security. By refusing to share your account, keeping your credentials private, enabling robust protections, and staying informed, you safeguard not just your assets, but your peace of mind.Further Reading4 Critical Tools to Enhance the Security of Your Binance AccountLost or Stolen Device? Here’s How to Protect and Secure Your Binance Account FastThe Risk of Unauthorized AI Trading Bots — Here’s What You Need to Know

Main TakeawaysWith stablecoins’ market cap surpassing $300B, RWAs doubling in on-chain value, and new ETF approvals accelerating mainstream access, 2025 marked a pivotal step in crypto’s integration into the global financial landscape.With more than 300 million users and over $64 trillion in trading volume across Spot and Futures, Binancians are accelerating global crypto adoption.Discover your personalized Year in Review – via our app or website – to see how your trades, milestones, and activity shaped the Binance community.As we wrap up 2025, we’re hitting rewind on a year that did not hold back. From major breakthroughs to game-changing products, the crypto world is evolving fast. Beginning December 29, your personalized 2025 Year in Review lands in the Binance app and website. Relive every tap, trade, and triumph that brought us here – and celebrate the milestones you helped create.Check out your #2025withBinanceA Heartfelt Thank You to Our CommunityOur 2025 wins were possible because of one thing: you, our people. Across every corner of Binance, you traded with purpose and passion, driving cumulative trading volume to an incredible $64+ trillion. You proved that when the community moves, the entire crypto world moves with you. With $2.13 trillion deposited and another $2.11 trillion withdrawn, liquidity never slept.Thank you for choosing Binance as your launchpad, your playground, your trading home. Whether you’ve been HODLing with us since day one or just took your first step into Web3 in 2025 – you’re the reason the industry keeps leveling up.Binancians Wrapped, Achievements UnwrappedThis year, we’ve unwrapped some incredible milestones together, bringing our global community to more than 300 million! On the trading floor, our users’ top picks were BTC, BNB, ETH, SOL, and XRP, reflecting the trends and tastes shaping the crypto market in 2025.PayThis year, over 26 million Binancians tapped into the power of seamless payments, spending a collective $121 billion through Binance Pay. Across 20 million merchants worldwide, you completed more than 1.36 billion transactions, showing just how effortless crypto payments can be incorporated in everyday life.EarnAfter experiencing the ease of Binance Pay, Binancians discovered that saving can be just as simple with Binance Earn. This year, nearly 14.9 million users put their crypto to work, collectively collecting over $1.2 billion. From staking to flexible savings, Binancians proved that earning, and HODLing can all go hand in hand.Reaping RewardsBinancians had plenty to get excited about this year with 58 token generation events and 15 Boosters, giving users early access to new opportunities and ways to grow their crypto. Alpha Airdrops reached over 9.6 million users, with 809,650 unique participants claiming a total of $0.81 billion based on token prices at the time of receipt. Meanwhile, the HODLer Airdrop program rewarded over 2.4 million users across 57 distributions, celebrating long-term commitment and dedication to holding crypto.Web3 WalletIn 2025, over 13.2 million Binancians ventured into the Web3 ecosystem through the Binance Web3 Wallet, collectively executing more than $546.7 billion in transactions. From exploring decentralized finance to engaging with blockchain applications, users embraced new ways to trade, interact, and expand their crypto journey beyond traditional platforms.LearnThrough the Learn & Earn program, more than $2.7 million was distributed, rewarding users for expanding their understanding of crypto and blockchain while putting their new knowledge into action. The spirit of continuous learning didn’t stop there: over 3.2 million users leveraged our new Binance AI summary function to adapt their trading strategiesKey Trends and Statistics of 20252025 took crypto from acceleration to overdrive, powered by clearer regulation and stronger institutional confidence. With the GENIUS Act bringing long-awaited certainty, stablecoins surged past US$300B, while tokenized assets flowed rapidly into corporate treasuries. Altcoins rallied on the back of new ETF approvals, M&A activity soared as TradFi and Web3 converged, and RWAs more than doubled in value on-chain. Meanwhile, perpetual DEXs crossed trillion-dollar monthly volumes and prediction markets hit cultural breakout status. If 2024 hinted at crypto’s potential, 2025 is the confirmation: crypto is firmly embedding itself into our future financial landscape.Stablecoin AdoptionThe total stablecoin market cap surpassed US$300 billion in 2025, expanding by ~47%. Addresses holding dollar and crypto-pegged stablecoins climbed 44% to 130.7 million, boosted by the passage of the GENIUS Act, which established clearer regulatory standards and streamlined stablecoin issuance.Digital Asset Treasury (DAT) AdoptionDAT companies surged in popularity as firms increasingly added digital assets to their balance sheets. Public companies now hold 1,057,299 BTC, while Ethereum-focused treasuries accumulated 6.14M ETH — roughly 5% of ETH’s total supply. From Bitcoin to Solana, DATs continue to scale through public issuance and private capital.AltcoinsAltcoins surged in 2025, with BNB outpacing the broader market, hitting a new all-time high of US$1,370 in October – fueled by rising corporate-treasury demand and growing ecosystem utility through new partnerships. BNB’s rally mirrored a wider shift in market structure, driven by deeper institutional participation and new investment vehicles.Spot ETH ETFs also posted positive monthly net inflows (except March), averaging US$1.17B, while new ETFs for XRP, SOL, LTC, HBAR, and DOGE hit the market. Solana drew standout interest, with Bitwise’s SOL ETF debuting at US$55.4M in trading volume and US$217.2M AUM. The SEC’s approval of generic listing standards on September 17 further accelerated the rollout of spot crypto ETFs across the board.Privacy CoinsPrivacy coins saw a dramatic US$41.7B single-day market cap increase on November 9 as a renewed digital-cash narrative gained momentum during market volatility. Despite compliance pressures, demand for confidentiality grew: transaction volume across the top three privacy coins rose 30% in October.Prediction MarketsWeekly trading volume across prediction markets exceeded US$3B in October, surpassing pre-election averages. Activity is concentrated on Polymarket, Kalshi, and Opinion (launched in October). Polymarket led for most of the year, bolstered by initiatives like ICE’s US$2B investment and progress toward U.S. re-entry following its CFTC-cleared acquisition of a regulated exchange and clearinghouse.DEX GrowthDEX–CEX volume ratios surged this year – spot volumes doubled, and futures volumes quadrupled, driven by the emergence of perpetual DEXs. In October alone, perpetual DEXs processed US$1.3 trillion in volume. As UX and liquidity deepen, more users are migrating toward permissionless, self-custodial trading.RWA ExpansionOn-chain RWA value climbed from US$15.5B to over US$35.5B, powered by private credit markets and tokenized commodities such as gold and U.S. Treasuries. BUIDL remains the largest on-chain asset with more than US$2.8B in tokenized value.Merger and Acquisition of Crypto CompaniesTraditional finance and crypto firms are increasingly converging as strategic partnerships and acquisitions accelerate. Merger and acquisition activity soared from US$1.3B in 2024 to US$17.7B in 2025. Deal volume more than doubled with 271 transactions in 2025 versus 128 previously.*All statistics are provided by the Binance Research Team.Final Thoughts: Community EngagementCommunity defines Binance, and BBW Dubai 2025 was our biggest celebration yet. This year’s flagship event brought together 5,210 attendees from 120 countries, including 200 speakers, 400 industry influencers, and our largest Angels gathering to date with 91 participants. And the momentum didn’t stop there – through global meetups, webinars, and workshops, we continued creating opportunities for users to connect, level up, and forge lasting ties.Beyond the numbers and milestones lies the heart of our ecosystem – you. Every trade you made, every insight you shared, every moment you showed up has shaped Binance and pushed the entire ecosystem forward. That’s why we built the 2025 Year in Review: to honor your journey and spotlight the impact you made this year. Thank you for being part of this incredible ride – here’s to another year of building, thriving, and winning together!Further Reading300M Users: One Community. One Story. #OneUnstoppableCommunityDay 1 of Binance Blockchain Week: Yi He as Co-CEO, Michael Saylor’s Case For Bitcoin & Game-changing Insights Across PanelsBinance Drives Responsible Growth Through Compliance and Law Enforcement Partnerships

Discover how Binance AI brings token analysis, content insights, and personalised trading ideas together in one app to help you trade smarter and faster.Main TakeawaysBinance AI is an in-app intelligence layer that delivers market insights, analysis, and trading ideas directly within the Binance tools you already use.Explore Binance AI across Search for personalized search results, Select for advanced technical and sentiment analysis, BiBi on Square for smarter content insights, and AI Token Report for fast token intelligence.With Binance AI and BiBi, you can cut through the noise, act on opportunities faster, and enjoy seamless insights and decision-making — all in the same app.This is a general announcement. Products and services referred to here may not be available in your region.AI is transforming the way people trade, analyze markets, and connect with opportunities. The challenge? Most AI tools live outside your daily workflow, making them slow to access and hard to use in real time.Binance AI changes that. Now built directly into Square, Search, Select, and Token Reports, it’s your in-app intelligence layer — delivering instant market insights, concise, targeted analysis, and tailored search results without delay.Meet Your AI ToolkitInstead of jumping between apps or wrestling with multiple data sources, you can now tap into AI-powered intelligence directly inside Binance.For traders, it’s going straight from a search query to a tailored plan. For casual market watchers on Binance Square, it’s about turning a busy content feed into clear, verified takeaways in seconds. And for those tracking tokens, it’s getting a quick, structured view of strengths, risks, and sentiment without trawling through endless charts.Because it’s built directly into your favourite Binance tools, you don’t need to learn a new platform or manage extra logins. It’s the same experience you know, but with AI built in to surface the most relevant data, help you interpret it, and guide you.Let’s take a closer look at the four key ways you can start using Binance AI and BiBi today: AI Search for fast, personalized answers.AI Select for technical and sentiment analysis.BiBi on Square for smarter content insights.AI Token Report for instant token intelligence.AI-Powered Search: From Question to ActionFinding the right answer can mean bouncing between charts, articles, and social posts. Or you can just use our AI Search function. Type a plain-language question to get smarter, more relevant results inside the Binance app.Quickly find what you’re looking for, whether that’s a market overview, a campaign you might be eligible for, a feature walkthrough, or trending topics worth watching. Instead of piecing together information manually, AI Search helps answer your questions instantly.AI Select: Clear Technical & Sentiment SignalsOnce you’ve found an asset you’re interested in, the next move is to validate the setup and execute your trade with AI Select, an intelligent tool that turns deep market analysis into simple, easy-to-read signals.AI Select combines technical indicators across multiple timeframes with real-time social and news sentiment to deliver:Bullish / Neutral / Bearish ratings on specific assets.Simple summaries that explain what’s driving the signal.A clearer view of market dynamics outside of charts.When you’re ready, go from insight to action with one-click trade buttons directly in the interface.BiBi on Square: Smarter Crypto ConversationsSquare is where the crypto community comes to share insights, discuss market moves, and connect with others. It’s your social hub for real-time news, analysis, and discussion. Now, with BiBi built in, Square becomes even more powerful.See a post about a trending token? Ask AI to break it down into a clear summary, verify key claims, or analyze the coin’s market position. Want to dig deeper? It can raise follow-up questions you might not have thought to ask.The goal is to cut through noise and give you reliable, relevant insights. By combining social context with AI-powered analysis, you can follow discussions, spot emerging trends, and make decisions based on verified information rather than guesswork.AI Token Report: Instant Token IntelligenceWhen you’re tracking a cryptocurrency, speed and clarity matter. AI Token Report delivers both in less than 30 seconds, giving you a structured snapshot of a token’s market position and outlook.Each report is divided into four sections: a concise summary, key opportunities, potential risks, and community sentiment. Behind the scenes, Binance AI pulls from a wide range of data sources — including Spot trading activity, whale transfers to exchanges, and buy/sell flows — areas many other platforms don’t cover. You can see the source for every point, and open pop-up views for technical charts or related content without leaving the page.With reports refreshed every hour, you’re always looking at the most up-to-date information. Whether you’re screening a watchlist, researching before a trade, or keeping tabs on a trending coin, AI Token Report helps you turn raw data into a clear, actionable market view in no time.Why Binance AI MattersCrypto moves fast, and the gap between spotting an opportunity and acting on it can be measured in minutes. Binance AI is designed to close that gap by giving you the insights, context, and clarity you need — all within the Binance experience.Convenient – Access analysis, summaries, and trading ideas right where you trade, research, and connect.Fast – Get token breakdowns, sentiment checks, and strategy suggestions in seconds.Interactive – Ask questions, explore topics, and refine your thinking through AI-powered conversations.Timely – See data that’s updated in real time or refreshed hourly, so you’re never working with stale information.Personalised – Receive recommendations and insights that match your trading profile and interests.By combining AI with the tools you rely on every day — from Trading Search to Square to Daily Reports — Binance puts powerful, relevant intelligence at your fingertips.How to Get Started With Binance AI and BiBiGetting started is simple. There’s no new app to download or extra account to manage.Update your Binance App to the latest version so you have access to all AI features.Complete KYC verification if you want to use BiBi on Square.Try it out:In Trading Search, type a plain-language question and see AI turn it into a tailored market view or trading plan.On Square, pick a post and ask AI to summarise, fact-check, or analyse the token it mentions.Open an AI Token Report for any coin you’re watching to see the latest strengths, risks, and sentiment without delay.Final Thoughts: Your AI Assistant Is ReadyAI is no longer a distant promise. It’s already part of the tools people use every day to make faster, smarter decisions. In crypto, where information moves quickly and markets can shift in minutes, AI isn’t just a convenience. It’s a competitive edge.Binance AI and BiBi puts that edge in your hands. By building advanced AI into the features you already use, it helps you bridge the gap between an idea and action in seconds. No extra logins, no complex setups, just focused, timely insights.This is part of Binance’s mission to keep innovating for our users, making complex ideas easier to understand, and giving you more control over your decisions. With BiBi, you’re not just keeping up with the market, you’re ahead of it.Further ReadingThe Future of Finance in Your Wallet: Binance Pay!Share Your Trades on Binance SquareBinance Square Trader ProfileDisclaimer: Content generated by Binance AI, may include errors, biases or outdated information. Content is provided “as is” and “as available” without any warranty. Binance does not confirm, endorse nor guarantee any AI-generated information. AI-generated information should not be solely relied on. Not advice nor any other intermediary service. Digital asset prices can be volatile. You are solely responsible for your investment decisions. Binance is not liable for your losses. For more information, see our Terms of Use, Risk Warning, and AI Terms.

Main TakeawaysNo compliance program prevents every bad actor from attempting to interact with a financial platform. What matters is detection, reporting, law-enforcement cooperation, and measurable outcomes. Our compliance program is among the most advanced and well-resourced in the industry, and the data shows it: between January 2023 and June 2025, Binance reduced its direct exposure to major illicit flows categories by 96%, to levels significantly lower than other leading exchanges.Narratives built on selectively interpreted cases that misrepresent Binance’s compliance progress and operational reality ignore the measurable, globally recognized progress we have achieved on this front.Over the past several years, Binance has built one of the strongest compliance programs in the digital-asset industry. We have invested heavily in world-class talent, advanced monitoring technology, and built strong partnerships with regulators, law-enforcement agencies, and independent analytics providers around the world. Our controls, processes, and cooperation frameworks are designed to meet – and in many cases exceed – the standards applied to traditional financial institutions, and the results speak for themselves: our exposure to illicit activity has declined sharply and continues to fall, while our capabilities to detect, report, and help disrupt financial crime grow stronger every year.These are not abstract claims; they are grounded in daily collaboration with authorities across jurisdictions, independent research into our platform’s risk profile, and the lived experience of serving more than 300 million users globally in a safe and compliant way. This is the reality of how Binance operates today and how modern crypto compliance actually works.We recognize that not everyone chooses to see this full picture, and that some external narratives focus narrowly on selected cases or outdated assumptions. That makes it all the more important for us to continue communicating clearly and transparently about our compliance efforts, our responsibilities, and our ongoing progress.What Strong Compliance Looks LikeThe litmus test for an effective compliance program is the ability to identify where a problem emerges and deploy the right response quickly, and this is precisely how our systems operate.No compliance program prevents every bad actor from attempting to interact with a platform. The true test is whether an organization has the systems, people, and processes to detect suspicious activity, report it, and cooperate with law enforcement to address it.In other words, the real questions are:Do you have strong onboarding and KYC controls?Do you have advanced transaction monitoring systems?Do you detect and report suspicious activity quickly?Do you cooperate with law enforcement and support investigations?On these metrics, Binance’s program today is one of the most advanced in the world of finance. We use industry-leading third-party vendors augmented by proprietary in-house tools that identify anomalous patterns, typologies, and cross-platform behaviors. In addition, Binance has an in-house compliance team of more than 600 dedicated professionals, with the overall number of employees in compliance-related roles reaching 1,280. We invest hundreds of millions of dollars annually in compliance and are committed to increasing that investment in the coming year. Our onboarding checks, transaction monitoring, sanctions screening, and behavioral analytics are continuously upgraded across all major markets we serve.Progress on this front is visible in trends observable over time. Our recent analysis of industry data demonstrated a 96% reduction in Binance’s direct illicit exposure – direct inflows and outflows from or to major illicit categories, including sanctioned entities and jurisdictions, scams, terrorist financing, and illicit actor-organizations – between January 2023 and June 2025, placing us well ahead of industry averages.LE Collaboration: Most of Our Work Is Designed to Stay QuietMuch of Binance’s compliance activity is intentionally invisible. By law, we cannot discuss accounts, investigations, or specific users, even when public speculation surfaces. Our work with law-enforcement agencies often includes sensitive, ongoing investigations across multiple jurisdictions. Public commentary would put those operations at risk.What we can say is that Binance responds to tens of thousands of law-enforcement requests each year. This year alone, we have processed more than 65,000 requests, assisting authorities in confiscating more than $90 million in ill-gotten funds.We support agencies such as Europol, INTERPOL, the DEA, the NCA, Homeland Security Investigations, and multiple national cybercrime units. These collaborations have resulted in the takedown of ransomware groups, darknet markets, human-trafficking networks, and financial-fraud rings. The value of our work has been repeatedly recognized by our global law-enforcement partners.Ironically, outside observers can misinterpret suspicious activity as a failure, when in reality, the visibility exists because monitoring worked, and escalations happened as they should have. Oftentimes, cases that critics highlight to claim that Binance is allegedly not doing enough to combat illicit activity are already part of active investigations supported by Binance.Seeing the Big PictureA platform serving hundreds of millions of users will inevitably see some bad actors attempt to access its services. No global financial institution is immune: neither banks, nor fintechs, nor exchanges. What matters is the macro perspective: measurable reduction in illicit exposure; strengthened controls across onboarding, monitoring, and reporting; continuous investments in technology and personnel – hundreds of millions of dollars each year; recognition from global law-enforcement agencies. Binance is a leader in the cryptocurrency industry in each of these metrics. This is what responsible reporting would reflect, but unfortunately it is often ignored in pursuit of clicks and pageviews.Equally important is the need for journalists and analysts to critically assess the reliability of sources when relying on third-party blockchain data; not everyone in this space possesses the deep expertise they claim to have.Standing by Our Commitment to Users and ComplianceTo be clear, any suggestion that Binance is failing to uphold its compliance commitments is categorically false. These narratives ignore years of investment, global partnerships, independent validation, and concrete results.Since Binance launched in 2017, our mission has always been to build a secure, transparent, and trusted platform that protects users and advances the future of finance. The progress we’ve made is real, measurable, and recognized by those who work closest with financial crime every day: the world’s law-enforcement agencies. We remain fully committed to meeting and exceeding our regulatory obligations, and to addressing misconceptions with facts.Binance’s compliance journey is one of continuous improvement, and no headline will change that. No selective reporting will stop us from building a safer, more transparent financial system for everyone.We welcome feedback on our compliance program provided in good faith. Reporters, researchers, and independent investigators who wish to share comments or concerns can contact us directly at pr@generallink.top, and our team will review and respond as appropriate. Your input helps us build an even stronger compliance program and make crypto safer for everyone. Further ReadingUnpacking the Decline in Illicit Crypto Use: How Binance is Driving Industry-Wide ProgressBinance Drives Responsible Growth Through Compliance and Law Enforcement PartnershipsBinance Recognized as Key Partner in Thailand’s National Anti-Cybercrime Agenda as Royal Thai Police Announces Successful Operation

Main TakeawaysIf someone claims that staking returns are “guaranteed,” you should question the legitimacy of the offer: real staking rewards fluctuate.When assessing the trustworthiness of crypto staking offers, misspelled domains, newly registered websites, and a lack of community discussion are immediate red flags.Verify sources, trust only official channels, and pause before sending funds to invest – a moment of caution can save everything.Imagine logging in to check your staking rewards, only to find your balance has vanished. When an investment opportunity comes knocking with promises of high returns and little risk, it could very well be a trap laid by an investment scammer. In this article, we’ll examine a recent real-world staking scam and share practical strategies to protect your funds.Real-Life Case Study: FXRP, The XRP Staking ScamA recent scam that impacted thousands of investors worldwide shows just how convincing fake platforms have become. Many victims first encountered FXRP through YouTube videos promoting “XRP wrapping and staking” with guaranteed monthly returns of 1.5-1.8%. The site was strategically pushed to the top of major search engine results and referenced across multiple online articles, creating a very convincing illusion of legitimacy.Many quickly signed up, created accounts, and sent their XRP to the wallet addresses provided by the platform, believing their funds were safely staked.However, when victims later tried to unstake or withdraw their funds, they hit a wall. They were met with repeated excuses, such as claims of missing destination tags or vague “technical issues,” followed by demands for additional fees to proceed. Shortly after, the website went offline, support vanished, and the wallets that received the funds were emptied. All the money was gone – permanently.How to Spot Investment Scams in SecondsBefore depositing a single dollar, take a moment to run through these quick checks:Check the domain spelling carefully Legitimate platforms use clear, sensible web addresses. Scammers, on the other hand, rely on subtle misspellings most people overlook. One odd or missing letter is rarely an accident and is often a deliberate attempt to deceive.Check when the domain was registeredA quick WHOIS lookup can reveal when a domain was created. If it was registered only weeks or months ago, that’s a major red flag. Established platforms typically have domains that are years old, while scammers often register cheap, new domains and abandon them after the first wave of victims.Cross-check legitimacy on forums or social mediaSearch the exact site name on Reddit, X (Twitter), or Telegram. If nothing credible shows up – no genuine user reviews, no mentions from official project channels, and no discussion in established crypto communities – it’s a major red flag. Legitimate services get talked about; scam sites often stay invisible until users start reporting losses.Check for verifiable proof Legitimate staking or yield services are always officially referenced by the token’s own project. For example, Ripple will never ask users to send funds to a random wallet for “wrapping.” If there’s no whitepaper, no independent audit, and no mention on the project’s official website or verified channels, the service isn’t legitimate.Be wary of “guaranteed” or unrealistic returns Promises of fixed monthly profits, such as 1.5-1.8% every month regardless of market conditions, are a classic scam signal. Legitimate staking and yield rewards fluctuate with network activity and market dynamics and are never guaranteed.Final ThoughtsBefore committing your funds, slow down, verify every detail, and rely only on services that are officially endorsed and independently verified. While Binance continues to invest in education, tools, and real-time alerts through resources like our FAQs, Know Your Scam series, and Binance Risk Sniper profile on Square, your awareness remains the strongest safeguard.Further ReadingP2P Crypto Safety – How to Spot and Avoid Pay-to-Canceled-Order ScamsWeb3 Security: Preventing SMS Spoofing AttacksShare-Seed-Phrase Scams: A Binance Guide to Protecting Yourself Against a Rising Threat

Main TakeawaysLiquidity follows flow — and flow favors Binance, according to an analysis by data firm Kaiko. In Binance’s early days, fast listings, stablecoin-denominated markets, and reliable execution attracted participation and liquidity that eventually transformed it into the primary venue for spot crypto price discovery.As Binance’s liquidity flywheel emerged, tighter spreads lowered execution costs, attracting  further participation and compounding depth, thus creating a virtuous cycle that has placed Binance at the center of global crypto adoption and allowed it to remain remarkably resilient through crashes, regulatory uncertainty, and deleveraging events.Clearer regulation and diversified quote rails are now powering the next phase of growth. Heightened institutional participation and regulatory wins like Binance’s new ADGM license are drawing in more capital, reinforcing the same liquidity flywheel originally powered by retail.Binance crossed a remarkable milestone in December 2025: 300 million registered users. While the headline is impressive, the deeper story lies in something even more foundational — a liquidity engine built over eight years that has scaled through every kind of market. From its first months in 2017 to the highly automated, institutionally driven market of today, Binance’s core advantage has remained consistent: deep, resilient order books that attract traders, which in turn attract more liquidity, which then pulls in more users. The result is a classic compounding flywheel.This analysis is based on a comprehensive market microstructure report produced by Kaiko, one of the world’s leading providers of institutional-grade digital asset data. This blog distills Kaiko’s findings to help traders understand the evolving liquidity landscape and what it means for execution quality on Binance today.The Rise of a Liquidity MachineWhen Binance launched in 2017, the broader crypto exchange ecosystem still struggled with basic infrastructure challenges — slow interfaces, frequent downtime, and fragmented liquidity. Binance entered with a sharper focus on execution quality and accessibility. One early choice proved pivotal: positioning stablecoin quote markets at the center of the trading experience. USDT pairs became the global language of liquidity, simplifying access for traders across every region and fiat system.Just as important was Binance’s fast, broad approach to listings. By giving emerging projects an early, liquid venue, Binance became the default home for new narratives. As more traders gravitated to these markets, liquidity naturally thickened. Professional market makers began quoting tighter spreads, retail users found it easier to trade, and the cycle reinforced itself.Figure 1: Total Listed Pairs Across Centralized Exchanges. Source: Kaiko The listed-pairs chart illustrates how dramatically Binance pulled ahead from 2019 onward. By offering breadth without sacrificing reliability, Binance consolidated trading activity into a single venue even as the crypto ecosystem expanded.The real proving ground came in the 2020-2021 bull cycle. Trade counts and volumes surged, yet core pairs such as BTC-USDT and ETH-USDT often maintained spreads at or near the minimum tick size. This was the first large-scale demonstration that Binance’s matching engine and liquidity model could handle exponential demand without breaking.Weathering Shocks: 2022–2024The post-bull period flipped optimism into stress. The industry was hit by deleveraging, exchange failures, and fragmented policy environments. On top of these global pressures, certain regions imposed restrictions that affected how and where users could trade.Yet Binance’s order books consistently showed the same behavioral signature: spreads widened during shock events, depth temporarily contracted, but both recovered predictably. Instead of prolonged dysfunction, markets regained equilibrium in hours or days — a critical sign that professional liquidity providers remained willing to quote on Binance even during fragile conditions.Regulation, often seen as a headwind in the industry’s early days, eventually became part of the solution. The approval of Bitcoin spot ETFs in early 2024 brought in more structured institutional capital. Soon after, frameworks began to emerge across key jurisdictions that delivered long-awaited clarity around crypto asset issuance and exchange operations. These changes increased the diversity and consistency of flows routing into Binance’s books.At the same time, stablecoin liquidity matured beyond a single issuer. While USDT remained dominant, growing USDC and FDUSD markets provided a more diversified set of quote rails. Liquidity became resilient because it was concentrated in multiple strong corridors rather than one.Figure 2: BTC-USDT Market Depth Across Exchanges. Source: KaikoOver time, Binance’s share of depth within 1% of the midprice grew steadily compared to other exchanges. This metric, not just volume, is the invisible backbone of price discovery — the reason trades clear smoothly even when markets move fast.A Closer Look at December 1, 2025A single day of observation that Kaiko analysts zoom in on captures the scale of Binance’s infrastructure. On December 1, 2025, Binance processed $20 billion in spot volume across 61.9 million trades, while the two biggest global competitors processed $3.6 billion across 6.2 million trades and $3 billion across 9.9 million trades, respectively.The enormous difference in trade counts shows how Binance processes vast numbers of small orders. This is characteristic of two things: a broad global retail base trading in small sizes, and algorithmic execution strategies slicing orders into micro-trades to minimize impact. For market structure, this matters: high message throughput and tight feedback loops enable consistently narrow spreads.Figure 3: Total CEX Volume Since 2016. Source: Kaiko Binance’s share of global volume accelerated starting in 2019 and has remained dominant across cycles.Figure 4: Share of Trade Volume. Source: KaikoEven as the exchange landscape evolved, Binance maintained roughly 60% of CEX spot volume, a sign that network effects, once established, are difficult to dislodge.During high-volatility stretches, such as the October 2025 surge where total daily spot volume exceeded $60 billion, Binance’s order books continued to print and refill. Execution naturally took longer, but the microstructure remained functional. Stress revealed elasticity rather than fragility.Inside the Order Books: Depth, Spreads, and RhythmLiquidity becomes meaningful only when it remains present close to the midprice. Across BTC, ETH, SOL, and XRP, Binance’s depth at both 0.1% and 1% price bands has now surpassed levels seen before the market disruptions of 2022. This means that even after a turbulent few years, book quality improved rather than deteriorated, a sign of structural rather than cyclical strength.Figure 5: Evolution of Depth. Source: KaikoThe charts show depth dipping during crises (e.g., Luna, FTX) but rebuilding to stronger levels afterward. By late 2025, the books were not merely restored, but materially thicker across multiple assets.One subtle but important characteristic is how liquidity varies by time of day.USDT pairs, with a global user base, show no “dead hours.”USD and EUR pairs tend to deepen during regional trading hours, reflecting institutional behavior tied to fiat settlement windows.These charts show liquidity forming a rhythmic pattern throughout the day, but never disappearing. For global execution strategies, whether human or algorithmic, round-the-clock reliability is invaluable.Who Is Trading? Retail, Algos, and Institutional FlowsOne way to infer the composition of users is by analyzing average trade sizes and pair-level concentration. As the report notes, BTC accounts for roughly 28.6% of Binance’s spot volume, ETH contributes around 22%, while assets like SOL and various stablecoin-denominated altcoins fill the rest. This distribution suggests a healthy blend of blue-chip demand and long-tail exploration.Figure 6: Average BTC-USDT Trade Size. Source: KaikoThe stable average trade size — typically below 0.008 BTC — aligns with a mix of retail trades and algorithmic slicing. Large, infrequent blocks would create visible jumps; instead, the flow is smooth and continuous.Figure 7: Total Volume by Pair Since Launch. Source: KaikoA treemap of lifetime volumes highlights how central BTC-USDT and ETH-USDT remain, while also showing meaningful liquidity in newer stablecoin markets like FDUSD. This reflects both enduring trader preferences and Binance’s long-running push to maintain diversified, resilient quote markets.Depth distribution by time of day shows that retail and institutional strategies coexist comfortably. Retail participation thickens the book close to the mid, while institutions often choose specific windows or use wider price bands to execute larger trades. Instead of crowding each other out, these behaviors create layered liquidity that stabilizes the market.A New Phase: Regulation, Network Effects, and the ADGM LicenseThe ADGM license granted to Binance in December 2025 marks a significant step in our further global trajectory. Starting January 5, 2026, Binance entities will operate under Abu Dhabi’s regulatory framework as an exchange, clearinghouse, and broker-dealer, mirroring the familiar separation of functions and allowing the platform to meet globally recognized standards of governance, risk management, and investor protection, thus enhancing regulatory clarity and credibility for users, institutions, and partners worldwide. Regulatory clarity tends to have a flywheel of its own: institutions gain confidence to route larger flows, deeper flows tighten spreads, and improved execution quality attracts even more users. When combined with Binance’s already leading liquidity position, these developments extend the platform’s network effects rather than merely preserving them.Thus, the milestone of 300 million Binance users represents the maturing of crypto trading into a mainstream global financial behavior, supported by professional-grade infrastructure.Final ThoughtsThe story of Binance’s rise is ultimately a story of a gradual, compounding power of liquidity. For everyday traders, the takeaway is that liquidity determines your real execution quality. Understanding depth, spreads, and order-book behavior by time of day means understanding where and how your trades will actually fill.According to Kaiko’s analysis, as of late 2025, Binance continues to offer some of the deepest, most resilient liquidity in the crypto ecosystem. It is this structural strength that underpins our platform’s growth and its role in shaping global crypto markets in the years ahead.Further ReadingKaiko: Liquidity Flywheel Drives Binance to 300 Million UsersBinance Becomes The First Crypto Exchange to Secure a Global License Under ADGM Framework300M Users: One Community. One Story. #OneUnstoppableCommunityDisclaimer: Content above may include third party comments and opinions (such as, without limitation, those expressed by moderators, hosts or participants that are not employees of Binance). Please note that: (a) all content is presented on an "as is" basis for general information purposes only, without representation or warranty of any kind; (b) such comments and opinions belong to these third parties, and do not purport to reflect the views, comments or opinions of Binance; and (c) correspondingly, their comments and opinions as expressed is not intended to be and shall not be construed as an endorsement by Binance. We shall not be liable or responsible for any errors or omissions, or for the results obtained from your use of such information. The content referred to above shall not be construed as financial advice.

Main TakeawaysBinance has achieved the ISO/IEC 42001 certification, a global standard for responsible artificial intelligence (AI) governance, highlighting our commitment to ethical, transparent, and secure AI deployment.We continue to enhance the safety, reliability, and accountability of our AI systems, aligning with emerging regulations such as the EU AI Act.Binance streamlines compliance and auditing processes while enabling efficient, scalable AI governance through familiar systems and clear team responsibilities.We are excited to share a major milestone in our commitment to responsible innovation: Binance has earned the ISO/IEC 42001 certification, a global standard for responsible artificial intelligence (AI) governance. This certification highlights our commitment to ethical, transparent, and secure AI deployment across our operations. It was awarded by A-LIGN, a trusted compliance assessor accredited by the ANSI National Accreditation Board (ANAB) to perform ISO/IEC 42001 certifications.What Does Earning This Certification Mean?Published in December 2023, ISO/IEC 42001 is an international standard that specifies requirements for an Artificial Intelligence Management System (AIMS). It guides organizations in the responsible governance and management of AI technologies. At Binance, this certification validates the robust framework we’ve built around responsible AI governance. By adopting this framework across the full AI lifecycle, we enhance the safety, reliability, and accountability of our AI systems, aligning with emerging regulations such as the EU AI Act.The certification covers not only how we use AI internally but also how we design, deploy, and manage AI systems across the organization. It ensures that AI tools are applied responsibly, in compliance with international standards, and supports the secure development, deployment, and ongoing monitoring of AI technologies. Importantly, it also requires assessing the societal impacts and effects on individuals and groups of individuals prior to deployment. Jimmy Su, Binance’s Chief Security Officer, emphasized our dedication to the highest standards of AI governance: “ISO/IEC 42001 validates the structure we have built around responsible AI. Governance, in simple terms, means having clear rules and real oversight, but in practice it is about ensuring our AI behaves as intended even as it grows more complex. Our team supports this through thorough risk assessments, strong data protections, and continuous monitoring that keep our systems safe, predictable, and aligned with global standards.”Unified Approach to Responsible InnovationISO/IEC 42001 also integrates smoothly with our existing ISO certifications, including ISO 27001 for security, ISO 27701 for privacy, and ISO 22301 for business continuity. This unified approach streamlines our compliance and auditing processes, enabling efficient and scalable AI governance through familiar systems and clear team responsibilities.“Achieving ISO/IEC 42001 certification reflects Binance’s strong commitment to responsible innovation,” shared Richard Teng, Co-CEO of Binance. “Together with our recent full regulatory authorization from ADGM’s FSRA, it underscores the standards of governance and oversight we are building globally. As AI technologies evolve, we will continue to uphold the highest levels of transparency and user protection to strengthen trust across the Web3 industry.”Barry Young, Binance's Chief Data Protection Officer, noted that achieving the ISO 42001 certification in responsible AI governance makes Binance one of only a handful of companies in the world to simultaneously hold ISO certificates for security, privacy, and AI governance. He added: "This achievement underlines our continuing focus and commitment to innovation and using cutting-edge technology without compromising the personal data of our 300M+ users. By implementing a Privacy by Design methodology, we can ensure that data protection considerations are at the forefront of our AI deployment, and that we are behaving both ethically and responsibly."As we look ahead, responsible AI will be a cornerstone of how Binance continues to build for the future of finance. By combining rigorous governance with practical innovation, we aim to set a standard for how AI can be deployed safely and ethically in crypto – protecting users, supporting regulators’ objectives, and strengthening trust in Web3 infrastructure for years to come.Further ReadingBinance Becomes The First Crypto Exchange to Secure a Global License Under ADGM FrameworkBinance Drives Responsible Growth Through Compliance and Law Enforcement PartnershipsThe Human Firewall: Meet the Teams Powering Binance's User Safety Commitment