Highlights:
- Binance lists seven new FDUSD trading pairs with zero-fee trading across all VIP levels.
- New FDUSD cross- and isolated-margin trading pairs include ALT, ETHFI, IO, MEME, PYTH, TNSR, and TAO.
- Binance’s new security measures include enhanced monitoring and a reward program to report account misuse.
Binance, the largest cryptocurrency exchange, has announced the listing of seven new FDUSD trading pairs, enhancing its trading options. The newly listed tokens include ALT, ETHFI, IO, MEME, PYTH, TNSR, and TAO, and users can benefit from zero-fee trading for these pairs.
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Details of New Trading Pairs
The official announcement from Binance detailed the new FDUSD trading pairs available for both cross and isolated-margin trading. These pairs include ALT/FDUSD, ETHFI/FDUSD, IO/FDUSD, MEME/FDUSD, PYTH/FDUSD, TNSR/FDUSD, and TAO/FDUSD. This move aims to provide users with more comprehensive trading options and improve their trading experience.
Binance introduces these pairs with zero-fee trading, an attractive user incentive. The zero-fee trading is applicable across all user VIP levels, encouraging greater participation and trading activity on the platform.
Enhancing User Experience
Besides expanding the trading options, Binance aims to enhance the user experience by broadening the variety of trading pairs available. This strategic move allows users to diversify their portfolios and adopt more flexible trading strategies.
Binance Margin’s expansion includes adding these new FDUSD pairs for cross and isolated margin trading, ensuring users can access a wider range of trading options. This effort aligns with Binance’s commitment to continually review and expand its trading choices to meet user needs.
Binance Tightens Security to Prevent Account Misuse
In a recent announcement, Binance revealed a series of new measures to bolster the security and integrity of its platform. These initiatives are designed to prevent account misuse and ensure compliance with platform standards.
Binance detected instances where users exploited certain account types to gain unfair advantages, such as better fee rates and higher API limits. These account types are intended for legitimate business purposes, including sub-accounts, managed sub-accounts, and fund manager accounts. However, some individuals have misused these features to circumvent controls and access privileged account statuses.
Dear community,
Thank you for sharing your concerns regarding ‘airdrop hunters’ targeting and exploiting #Binance Megadrop.
Rest assured that we’ve implemented certain risk controls to prevent such accounts from participating. These measures will also be further strengthened in…
— Binance Web3 (@Web3WithBinance) June 22, 2024
In response, Binance implemented enhanced monitoring systems to detect potential misuse across all account types. The exchange has stated that it will investigate suspected incidents and may, consequently, take action against those found violating the platform’s Terms of Use and KYC/KYB policies, including account suspension or termination.
Additionally, Binance introduced a reward program for users reporting verified account misuse cases. Users can submit their findings via a dedicated email address ([email protected]), and reward amounts will be determined case by case.
Binance Transitions UAE Accounts to Comply with VARA
Binance announced a significant update as part of its effort to secure a VASP license from Dubai’s Virtual Assets Regulatory Authority (VARA). On June 26, Binance unveiled the transition procedures for UAE residents, shifting their accounts from the Binance global exchange to the Binance FZE exchange.
To complete the transition, users must update their KYC verification as requested via email by December 15, 2024. This move is part of Binance’s strategy to comply with local regulations and enhance its service offerings in the UAE, ensuring a fully compliant trading environment.
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