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Binance Coin (BNB) has seen a massive 6,000% surge in trading volume since June. This explosion comes on the heels of several key developments in the Binance ecosystem. And of course, their is a "small" input of the infamous legal battle between Binance and SEC that was quietly dismantled recently. BNB is currently trading at $579. It's up 3% in the last 24 hours and 0.9% over the week, according to Coingecko. The SEC's decision to end its probe into Binance's stablecoin issuer is a major factor driving this increase. This move has cleared up a lot of legal mumbo-jumbo that's been hanging over Binance. The company sees it as a big win for rebuilding trust with investors. Adding fuel to the fire, former Binance CEO Changpeng Zhao (CZ) is set to be released from house arrest next month. CZ has been teasing a new project that he claims could offer a 100x return. Talk about hype! These events have created a perfect storm of optimism. It's sent BNB trading through the roof. Despite the recent trading frenzy and positive developments, the Binance-backed BNB Chain has faced adoption challenges. Market watchers have spotted a mismatch between Binance's actual support and the BNB Chain's marketing efforts. To boost the BNB Chain's success, Binance needs to tackle these issues head-on. Supporting meme coins and other innovative ideas could add value to the chain and attract more users. Industry experts reckon that overcoming these hurdles could unlock massive potential for the BNB Chain. By aligning its marketing with real support, Binance could strengthen the chain's credibility and build a more robust ecosystem. Looking ahead, BNB's price outlook remains cautiously optimistic. CoinCheckup data suggests a potential upswing in the next week. This could mean either a reversal or continuation of the current market momentum. In the longer term, BNB's value could increase by 62% in the next three months. This aligns with the overall positive sentiment and growing investor confidence. The crypto prediction platform also forecasts a 60% price rally over the next year. With favorable market conditions and recent positive developments in the Binance ecosystem, things are looking up for BNB. The removal of legal roadblocks and the BNB Chain's readiness for wider adoption set the stage for Binance's expansion in the coming quarters. It's been a wild ride for Binance and BNB. But with legal troubles in the rearview mirror and CZ gearing up for his next big move, the crypto world is watching closely. Will BNB keep its momentum, or is this just another crypto rollercoaster? Only time will tell.

Memecoins are crushing it in 2024. Binance Research says they're the hottest thing in crypto right now. The research arm of the top crypto exchange dropped a bombshell. Memecoins are driving crypto awareness this year. They've outperformed all other sectors. "Memecoins have driven a significant amount of activity among traders and captured a notable amount of attention within the crypto community," Binance Research stated. "Considering that memecoins have been the top performing sector year-to-date and have returned a staggering 279%, it is hardly surprising that it has been a sector that has garnered much interest." Two blockchains are spearheading the memecoin surge. They are Coinbase's Ethereum layer-2 chain Base and Ethereum rival Solana. AI-related crypto projects are also turning heads. They've sparked considerable consumer interest. DeFi is making a comeback in 2024. It's not messing around. Binance Research noted, "2024 has seen a substantial influx of capital into Decentralized Finance ('DeFi'), driving the TVL (total value locked) up 72.8% year-to-date ('YTD') to US$94.1B, from US$54.4B at the year's start." This surge has boosted nearly every DeFi sector. Major and niche markets alike are reaping the benefits. New protocols are emerging. They're bringing previously inaccessible financial primitives on-chain. Looking ahead, Binance highlights two more crypto sectors to watch. These are real-world asset tokenization and the growing Bitcoin ecosystem.

A US court has given Binance's American arm the thumbs up to invest customer funds in Treasury bills. The move marks a significant shift for the crypto exchange. Judge Amy Berman Jackson of the District of Columbia issued the order on July 19th. It allows Binance.US to put "certain customer fiat funds" into T-bills. These funds are currently held by BitGo, a digital asset trust firm. The court set some ground rules. Binance.US can't involve third parties in the investments. The T-bills must have a rolling maturity of four weeks. The exchange must keep enough cash on hand. This is to cover expected customer withdrawals during the investment period. Binance.US also got the go-ahead to invest its own corporate assets. It can use third-party advisors for this. But it can't put money back into Binance-related entities. The court gave another nod to the exchange. Binance.US can now move crypto assets to wallets provided by US-based third-party custodians. There's a catch, though. All transfers and withdrawals need dual approval. Both the exchange and the custodian must sign off. The court order is clear on one point. Binance entities can't have any control over assets in these wallets. This decision is a big deal for Binance.US. It gives the company more flexibility with customer funds. But it also comes with strings attached. The move could set a precedent for other crypto exchanges. It's a sign that courts are willing to let these firms operate more like traditional financial institutions.

Bloomberg Businessweek has apologized to Binance and its co-founder Changpeng Zhao. The apology relates to a 2022 story. It wrongly called Zhao the head of a "Ponzi scheme". Modern Media CL, Bloomberg's publisher, said sorry in their 250th edition. They want to fix past mistakes. They aim to boost their reporting standards. Zhao sued Bloomberg after the controversial piece. He said it sparked "hate, scorn, and mockery". This was aimed at him and Binance, a big crypto player. Bloomberg's public apology is a big step. It's trying to rebuild trust. The journal will also donate to Songzi's Special Education Foundation. The exact amount isn't known yet. This shows Bloomberg admits the harm done. Zhao shared his thoughts on X (formerly Twitter). He praised Bloomberg's writers for their skill. But he slammed the paper for unfair coverage. Zhao says Bloomberg cherry-picked negative comments. They ignored praise from other sources. "We're glad the wrongful accusations have been retracted," Binance tweeted. The company seems ready to move on. Zhao's remarks highlight a bigger issue in journalism. There's a tendency to prioritize sensationalism over fair reporting. He says Bloomberg's coverage wasn't just inaccurate. It was unprofessional. His critique is a wake-up call for media outlets. They need to strive for honesty and balance. This is crucial for tricky topics like crypto. The Bloomberg-Binance saga shows the wider impact of journalistic ethics. The fast-moving crypto world needs careful, informed reporting. Sensational headlines can cause real harm. Bloomberg's apology isn't just admitting guilt. It's a fresh commitment to ethical reporting. Media shapes public opinion. Accurate reporting is key for trust in financial institutions and crypto innovators. This episode is a reminder for all journalists. They need to maintain high ethical standards. Reporters are truth gatekeepers. This role is vital in our fast-paced info world. Bloomberg's promises to avoid future errors are positive signs. But the incident should keep all media on their toes. Upholding truth and fairness in reporting isn't optional. It's a must.

BNB Chain, the blockchain network founded by Binance, has unveiled a new layer-2 solution. It's called opBNB. The testnet launched on June 19. OpBNB is based on the Optimism OP Stack. Binance claims it will boost security and scalability. The new chain is compatible with Ethereum Virtual Machine (EVM). BNB Chain currently processes about 2,000 transactions per second. Transaction costs hover around $0.10. OpBNB promises to up the ante. According to Binance, opBNB can handle over 4,000 transfer transactions per second. The average cost? Less than half a cent. That's pretty sweet, if true. The new layer-2 solution also tweaks a few other things. It optimizes data accessibility and the caching layer. It also adjusts the submission process algorithm. These changes allow for a higher gas limit. OpBNB can handle 100 million per block, compared to Optimism's 30 million. Binance is pulling out all the stops here. Binance is touting opBNB as their answer to blockchain's scalability problem. They reckon it's been holding back mass adoption. No kidding, Sherlock. OpBNB uses Optimistic Rollups to scale transactions. It processes data off the root chain, assuming it's valid until proven otherwise. Sounds risky, but that's the game. The new solution also simplifies integration with a user-friendly RPC service layer. Developers can focus on building apps without sweating the technical stuff. Not everyone's buying the hype, though. Adam Cochran of Cinneamhain Ventures threw shade at the move. He reckons BNB Chain's scaling issues stem from unsafe centralization. Cochran suggested alternative solutions. Joining Optimism as a "superchain" or becoming an Ethereum layer-2 were among his ideas. But Binance seems set on doing its own thing. Despite the skepticism, BNB Chain remains a big player. It's the third-largest blockchain in DeFi total value locked, behind Ethereum and Tron. It boasts $3.38 billion in TVL and about a million daily active users. Will opBNB be the game-changer Binance hopes for? Or is it just another layer in an increasingly complex crypto cake? Only time will tell. For now, the crypto world watches and waits.