We have found instances of individual small-cap tokens experiencing a series of declines. Upon investigation, it was discovered that three VIP users cross-sold approximately 514,000 USDT worth of ACT tokens in a short period on the spot market, along with one non-VIP user transferring in a large amount of ACT from other platforms and selling approximately 540,000 USDT worth of tokens on the spot market in a short time. When the price of ACT dropped, some users' futures contracts were liquidated, leading to declines in other tokens as well. Currently, no single account with significant profits has been identified. Since the token has fully circulated in the secondary market, the platform cannot intervene in any user's selling behavior. We will continue to investigate this incident, and if there are updates, Binance will further synchronize the relevant details.

Binance will regularly adjust leverage ratios based on the liquidity, market sentiment, and trading volume of all trading currencies. To proactively guard against potential fluctuations and risks, we have taken preventive measures to lower leverage ratios. Binance contracts have recently issued continuous announcements regarding adjustments to the ACTUSDT perpetual contract; during this period, there have been no unusual market movements, nor have we actively reduced the positions of any users. Market makers are an important part of the industry ecosystem, and Binance also provides a comprehensive market maker program to incentivize more market makers to join Binance and enhance market liquidity.

Recently, the market has been quite volatile. To ensure the safety of users' assets and reduce trading risks, Binance will timely make corresponding leverage adjustments based on market conditions to avoid systemic risks in the entire trading market. Binance also reminds all users to implement appropriate risk control.