Binance’s CEO, Richard Teng, not too long ago urged the crypto neighborhood to be extra cautious with their investments, highlighting the significance of unbiased analysis.
Whereas many in the neighborhood confirmed help for the reminder, others took the chance to criticize Binance. One consumer accused the platform of selling dangerous and low-value memecoins to its large consumer base.
In a separate publish, Teng additionally shared Binance’s success in decreasing illicit transactions on the platform. The corporate, in collaboration with different main gamers, managed to decrease the proportion of unlawful crypto transactions to a mere 0.14%.
Binance credited its proactive measures, together with real-time monitoring and the restoration of stolen belongings, for this achievement.
Binance’s ongoing efforts in compliance had been additionally within the highlight. The platform invested considerably in constructing a sturdy compliance workforce, which helped safe over 20 regulatory approvals globally.
Moreover, Binance launched initiatives just like the Threat Sniper channel on Binance Sq. to higher defend customers from scams and fraud. These actions resulted within the restoration of tens of millions of {dollars} in stolen funds and the blacklisting of hundreds of malicious wallets.
