Binance announced that it will be launching a proprietary Non-fungible Token (NFT) marketplace set for June 24, trailing behind platforms such as Crypto.com and Gemini.
This new platform aspires to become the go-to spot for enthusiasts of NFTs and digital collectibles, offering creations from some of the most esteemed global artists and creators.
In the coming weeks, Binance will disclose names of creators who will debut their projects on the platform from June 24, featuring digital artists, musicians, sports personalities, and well-known celebrities in their lineup.
Thus far, Binance has revealed that participants will gain access to works by Lewis Capaldi, a two-time BRIT Award laureate, visual artist Trevor Jones, the Esports squad eStarPro, alongside football icons Michael Owen and Alphonso Davies.
Earlier in May, Binance introduced the 'Innovative Creators Program' to pave the way for creators eager to dive into the NFT collectibles sphere.
The marketplace will operate on the Binance Smart Chain, a network rolled out by Binance in April 2019, which lately has emerged as a sought-after alternative to Ethereum for NFTs and Decentralized Finance projects.
CipherTrace Adds Binance Smart Chain Compatibility
On May 27, CipherTrace, a prominent player in cryptocurrency cybersecurity, announced incorporating analytics support for Binance Smart Chain , facilitating the detection of high-risk financial activities within the network.
This expansion to support Binance Smart Chain adds to CipherTrace’s repertoire of over 1000 virtual assets, bolstering the firm's ability to assist projects utilizing this blockchain network.
The CEO of CipherTrace, Dave Jean, highlighted the development with enthusiasm, stating:
“We’re thrilled to announce our analytics now support one of the industry's fastest-growing blockchains. Our data attribution system grants us the edge to adapt swiftly to the evolving crypto terrain, distinguishing us from other blockchain analytics firms.”
Given the escalating regulatory scrutiny within the crypto realm, analytics solutions are becoming indispensable for blockchain-based projects to meet global anti-money laundering standards.
Changpeng 'CZ' Zhao: Bitcoin’s Resilience Beyond Regulatory Control
Changpeng Zhao, better known in the crypto circles as CZ, who steers Binance as its CEO, discussed the incapacity of governmental bodies and regulators to dismantle Bitcoin crediting Bitcoin’s rising prominence and decentralization, which collectively make it impervious to censorship.
During the Consensus 2021 virtual conference, CZ addressed the mounting efforts by global regulators who can neither overlook the cryptocurrency boom nor crush it.
He labeled cryptocurrency as a 'novel instrument broadening financial freedom globally,' and advocated for regulatory bodies to integrate crypto and blockchain advancements, emphasizing a cooperative rather than competitive stance.
Reports from May 13 indicated Binance faced scrutiny from both the U.S. Department of Justice and Internal Revenue Service over potential involvements in tax evasion and money laundering activities. Though Binance was not formally accused of any wrongdoing, the news spurred a decline in crypto market cap and the value of Binance Coin (BNB). Back then, CZ expressed dissent over how media reports misrepresented the exchange’s cooperation with those agencies. .
Nicholas Say hails from Ann Arbor, Michigan. With extensive travels and a significant stint in Uruguay, he's now settled in the Far East. His writings are widespread online, with a focus on realistic innovations and pioneering human technologies.
