Abu Dhabi-backed investment firm MGX plans to acquire a $2 billion minority stake in Binance using USD1, a stablecoin launched by Donald Trump's World Liberty Financial. The deal, announced at the TOKEN2049 conference in Dubai, underscores growing ties between Binance and the UAE. USD1 is pegged to the U.S. dollar and fully backed by U.S. Treasuries, cash, and equivalents. The transaction raises ethical concerns due to potential conflicts of interest, especially as Binance is under U.S. federal oversight following an anti-money-laundering conviction in 2023.
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🚀$STO
StakeStone (STO) Listed on Binance; Price Surges Over 30%
Binance has officially listed StakeStone (STO), a liquid staking protocol token, on its platform. Following the announcement, STO's price surged over 30%, reflecting strong investor interest. Additionally, Binance introduced a HODLer Airdrop program, allowing users to earn STO through retroactive BNB Simple Earn subscriptions.
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📉$BNB
BNB Price Update
BNB (Binance Coin) is currently trading at approximately $598.11, experiencing a slight decrease of 0.04% over the past 24 hours. The intraday high reached $602.00, while the low touched $595.83.
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🔍 XRP Market Activity: Whale Accumulation and Price Volatility
Over the past month, approximately 900 million XRP has been accumulated by large holders, indicating potential bullish sentiment. However, analysts warn of possible price volatility, with predictions of a drop to $1.55 due to atypical market patterns.
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🛡️ Binance Assists in Recovering $6.1 Million After Major Hack
Binance CEO Richard Teng announced that the exchange played a significant role in recovering $6.1 million in crypto assets stolen from the KiloEx decentralized exchange. This effort highlights Binance's commitment to sec
urity and user protection.
