Decentralized exchange PancakeSwap has reached a milestone with $836 billion in cumulative trading volume and a total value locked (TVL) of approximately $1.72 billion over four years of operation. As of Sept. 20, PancakeSwap held a TVL of $1.72 billion, a decrease from its peak of $7.16 billion on May 4, 2021. The exchange, operating on an AMM model, serves over 43 million unique addresses. PancakeSwap is set to launch PancakeSwap v4, a significant update focusing on enhancing user experience and scalability. The update includes dynamic fee tiers, advanced trading tools, and reduced gas fees to improve overall trading experience. By expanding to more chains and improving functionality, PancakeSwap aims to address market gaps and increase trading volume and revenue. The protocol has also introduced a $500,000 developer program to attract top builders and is currently hosting a v4 Hookathon on Dorahacks until Sept. 30. Read more AI-generated news on: https://app.chaingpt.org/news

BNB Chain, a decentralized blockchain ecosystem, has unveiled an update to enhance stablecoin infrastructure by introducing gasless transactions. The initiative, announced on Sept. 18, aims to streamline stablecoin payments, making them more accessible, faster, and cost-effective. Gala Wen, the director of ecosystem development at BNB Chain, stated that the collaboration with centralized exchanges, wallet providers, and bridges is geared towards offering a seamless gas-free transaction experience. The update enables gasless transfers for popular stablecoins like Tether, Circle USD, and First Digital USD, facilitating fee-free transactions to promote crypto adoption. Additionally, partnerships with exchanges such as Binance and Gate.io, as well as wallet providers like Bitget Wallet and SafePal, will further expand the reach of gasless transactions. The initiative also includes collaborations with bridge providers to enable zero-fee transfers and enhance liquidity for cross-chain asset movement, aligning with BNB Chain's goal of widespread Web3 adoption. Read more AI-generated news on: https://app.chaingpt.org/news

Binance has denied any ownership or responsibility for the recent $235 million hack on WazirX, urging the platform to take accountability for user fund losses. In response to claims made by Nischal Shetty, the primary owner of Zettai Pte Ltd, associated with WazirX, Binance refuted any acquisition of the Indian crypto platform. Despite signing a contract, Binance stated that the acquisition was never finalized due to Zettai's failure to meet obligations. The exchange emphasized that it has never controlled or operated WazirX and is not part of the platform's User Agreement. Regarding the hack, Binance clarified that it had instructed fund withdrawals before the attack and was not involved in the choice of custody solution provider. Binance called on WazirX to address user concerns separately from any dispute with Binance, emphasizing the need for accountability. WazirX has not responded to Decrypt's request for comment on the matter. Read more AI-generated news on: https://app.chaingpt.org/news

Binance co-founder Changpeng Zhao is set to be released from US custody on Sept. 29 after serving a four-month sentence. Zhao's legal issues began in November when he and Binance pleaded guilty to breaking US federal laws, resulting in fines and his resignation as CEO. Despite Zhao's impending release, Binance faces continued legal challenges from the US SEC, alleging violations of federal securities law. The SEC claims Binance plays a significant role in the crypto market by promoting digital assets and offering BNB as a security. While Zhao's troubles may be ending, Binance's legal battles persist. In other news, Circle CEO Jeremy Allaire predicts that stablecoins will go mainstream by 2025, and a lawmaker warns against banning election betting to prevent fueling illegal platforms. The crypto market continues to evolve, with risks and opportunities for growth in asset custody and trading. Read more AI-generated news on: https://app.chaingpt.org/news

As the most powerful storm to hit Southeast Asia this year heads towards Vietnam, cryptocurrency firms have committed to distributing tokens through airdrops to assist the victims. Typhoon Yagi in Vietnam has resulted in a death toll exceeding 250, with over 820 individuals injured and 82 still missing. Binance and KuCoin, two prominent crypto exchanges, have announced plans to airdrop tokens to users in the affected regions. Binance's charity arm is allocating $1 million in BNB tokens for the typhoon victims, with registered users in the most impacted areas set to receive $50 in tokens if they completed a proof-of-address registration by a specified date. KuCoin, on the other hand, will distribute 10,000 KCS tokens to users in the affected areas, with eligibility criteria based on KYC verification and transaction history. Both exchanges aim to provide swift financial assistance to those in need during this crisis. Read more AI-generated news on: https://app.chaingpt.org/news

United States diplomats have been urging Nigerian officials to release detained Binance executive Tigran Gambaryan since June 2024. The New York Times reported that Gambaryan's imprisonment has strained relations between the two countries. Secretary of State Anthony Blinken and Ambassador Richard Mills have been advocating for his release. Ambassador Mills met with Nigerian President Bola Ahmed Tinubu's cabinet in September 2024 to discuss the issue. Gambaryan's attorneys have requested the US State Department to classify his detention as wrongful, adding pressure on Nigeria. Rep. Rich McCormick introduced a resolution in Congress labeling Gambaryan's detention as a hostage situation. US officials have highlighted Gambaryan's deteriorating health as a reason for his release. Nigerian prison officials faced criticism for neglecting Gambaryan's medical needs, leading to an arrest warrant for a doctor. Gambaryan's health issues include a herniated disc, pneumonia, malaria, and throat infections. Read more AI-generated news on: https://app.chaingpt.org/news

PancakeSwap recently launched its first prediction bot on Telegram to meet the growing demand for prediction market products. The bot allows users to predict the future price of the BNB token conveniently on their mobile devices. Interest in prediction markets has been on the rise, especially with the upcoming 2024 US presidential election, which could impact cryptocurrency regulations. Polymarket, the world's largest predictions market, has seen a significant increase in total value locked, reaching an all-time high of $123.4 million. While PancakeSwap's bot currently focuses on BNB predictions, the team plans to expand to other chains based on user feedback. The launch coincides with PancakeSwap's fourth anniversary, offering users a chance to win rewards. Telegram Mini Apps, like the prediction bot, are seen as a positive development for the crypto industry, potentially attracting mainstream users to Web3 platforms. Read more AI-generated news on: https://app.chaingpt.org/news

Chainlink, a decentralized oracle provider, is facing increased competition in the market despite its long-standing dominance. Pyth, a decentralized oracle network, has experienced significant growth, increasing its total value secured by 46 times in just nine months. Although Chainlink remains the top oracle provider with a market share of 46.46%, Pyth's exponential growth has caused a slight decline in Chainlink's market share. With the entry of new oracle providers, Chainlink's once uncontested leadership is slowly diminishing. Despite Pyth's growth, it currently holds the third position in the market, following WINkLink and Chronicle. The competition in the oracle market highlights the importance of accurate and tamper-proof data provided by oracle networks, especially in light of recent technical glitches in legacy financial systems. Read more AI-generated news on: https://app.chaingpt.org/news

Interest in Binance Coin (BNB) is on the rise as ex-Binance CEO Changpeng “CZ” Zhao's release approaches in less than 20 days. Despite initial resistance at $487, BNB's price has surged to $520, with indicators suggesting further upward movement. Following legal troubles that saw a price drop to $560, CZ's impending return on September 29 has reignited market interest. Open Interest (OI) for BNB has increased from under $325 million to $342 million, indicating growing market participation and potential price gains. Analysts predict a possible climb above $600, with a target of $631 or even $724 if bullish momentum continues. However, potential resistance at $575 and legal uncertainties surrounding Binance could impact BNB's performance. Investors are advised to conduct thorough research and seek professional advice before making financial decisions. Read more AI-generated news on: https://app.chaingpt.org/news

Indonesian exchange Tokocrypto has obtained a complete license from the country's Commodity Futures Trading Regulatory Agency, also known as 'Bappebti.' On Sept. 9, Tokocrypto announced that it had been granted the Physical Crypto Asset Trader (PFAK) license by Bappebti. This license authorizes the company to function as a physical crypto asset trader and ensures compliance with the nation's trading regulations. Previously, exchanges in Indonesia operated under a 'prospective crypto exchange' classification, but in 2019, Tokocrypto was registered as a Prospective Physical Crypto Asset Trader (CPFAK). The company's CEO, Yudhono Rawis, stated that Tokocrypto is the third exchange to receive this license in Indonesia, with 35 prospective crypto exchanges still registered with the futures regulator. Tokocrypto aims to solidify its position as the leading trading platform in Indonesia by obtaining this license, as evidenced by its market share dominance in 2023 according to CoinGecko data. Read more AI-generated news on: https://app.chaingpt.org/news

Binance's founder and former CEO, Changpeng Zhao (CZ), has been permanently banned from managing the cryptocurrency exchange. Initially, it was believed that Zhao would face a three-year ban, but it was later confirmed to be a lifetime prohibition. This ban stems from legal issues with US authorities, including charges related to unregistered securities, market manipulation, and anti-money laundering deficiencies at Binance. Despite stepping down as CEO, Zhao remains the largest shareholder and can still influence the company's direction. He has expressed plans to focus on investments in blockchain, AI, and biotechnology. Zhao is currently serving a prison sentence and is set to be released on September 29. The agreement with US authorities also includes a $50 million fine. Two external agents will monitor his compliance with the ban on participating in Binance's management. Read more AI-generated news on: https://app.chaingpt.org/news

BNB Chain's native token, BNB, saw a 16.1% decline from August 23 to September 2, dropping from $598.80 to $502.10. Despite a slight recovery to $517, concerns arise about a bearish market trend as BNB struggles to stay above $610. Decreasing interest in BNB Chain metrics, particularly in DEX volumes, raises doubts about a potential retest of the $400 level. Speculation suggests that BNB's price may surge once co-founder CZ is released from detention, although his influence on the market remains uncertain. While BNB remains the third-largest cryptocurrency by market cap, recent weaknesses in BNB Chain activity and declining TVL indicate a shift in investor interest to other networks like Solana. Decreases in DEX volumes and active addresses on BNB Chain further highlight the challenges the network faces. Despite the anticipation of CZ's release, the fundamental reasons for a bullish outlook on BNB remain limited. Read more AI-generated news on: https://app.chaingpt.org/news

The trial of Tigran Gambaryan, a Binance executive detained in Nigeria, resumed on Sept. 2, 2024. Gambaryan's lawyers requested bail due to his declining health, which was contested by Nigeria's EFCC. Despite health records showing the need for surgery, prison officials failed to provide critical medical documentation. Family spokespeople highlighted the denial of access to Gambaryan and his worsening health. The next hearing is scheduled for Sept. 4, 2024. Concerns over Gambaryan's health led to an arrest warrant for a doctor and drew criticism from various groups. American lawmakers, including Rep. McCormick, labeled Gambaryan's detainment as a hostage situation and called for his release. The situation has sparked discussions on proposed crypto regulations in the US. Read more AI-generated news on: https://app.chaingpt.org/news

Digital content creators on Web2 platforms have been generating vast amounts of content for years. The emergence of accessible artificial intelligence has provided these creators with new tools to enhance their businesses and productivity. However, there is a concern about the data being fed into AI systems and where it goes. A decentralized AI blockchain could address this issue by emphasizing data and identity sovereignty. Matchain recently launched the mainnet for its decentralized AI-focused blockchain, aiming to improve data privacy and user autonomy through technologies like decentralized identifiers (DIDs) and verifiable credentials. These innovations are integrated into MatchID, the platform's data aggregator, simplifying digital identity management and enabling seamless interactions across various blockchains. By combining AI and blockchain, Matchain prioritizes user control and ownership of their digital lives, setting a new standard for the blockchain community. Read more AI-generated news on: https://app.chaingpt.org/news

BNB Chain recently launched a cross-chain bridge in collaboration with Celer, deBridge, and Stargate to improve network interoperability, liquidity, and user experience. The bridge aims to facilitate asset transfers from other blockchains, including stablecoins, to the BNB Chain network. This initiative is part of BNB Chain's strategy to expand its stablecoin ecosystem and enable the development of a wider range of DeFi products and services. By integrating advanced cross-chain protocols, BNB Chain seeks to enhance the capital efficiency of blockchain assets within its ecosystem. The launch of the bridge addresses the market demand for cost-effective cross-chain interoperability services and strengthens BNB Chain's position in the blockchain market. Additionally, the initiative is expected to attract more projects to BNB Chain, fostering real business success and broader audience reach. Read more AI-generated news on: https://app.chaingpt.org/news

Binance, a major global cryptocurrency exchange, reportedly seized cryptocurrency from Palestinians at the request of Israel. Ray Youssef, CEO of Noones P2P platform and co-founder of Paxful, revealed this information on Aug. 26. According to Youssef, Binance confiscated funds from Palestinians based on a request from the Israel Defense Forces (IDF) and refused to return the funds despite appeals. The action impacted all Palestinians, with concerns that Lebanon and Syria may face similar treatment. Binance cited a letter from Israel's National Bureau for Counter Terror Financing as the basis for the seizure. The exchange stated that the restrictions affected only a small number of users engaged in illicit activities. Binance emphasized compliance with international sanctions legislation and expressed a desire for lasting peace in the region. The incident has raised questions about the impact on Binance's traffic from Palestine, which has seen a significant increase since August 2023. Read more AI-generated news on: https://app.chaingpt.org/news

The family of Nigerian Binance executive Tigran Gambaryan has expressed worries about his deteriorating health after six months of detention for alleged financial crimes amounting to $34 million. Gambaryan, accused of money laundering, currency speculation, and tax evasion while working for Binance, is reportedly suffering from health issues due to medical neglect. His family claims that he requires blood thinners to prevent blood clots but has been denied proper medical attention. Despite facing severe tonsillitis from untreated malaria and pneumonia, Gambaryan has not received necessary medical treatment. The family also alleges that Nigerian authorities have restricted access to his legal team and medical records, leading to concerns about his well-being. Amidst this legal battle, Nigeria's SEC is planning to issue licenses to cryptocurrency exchanges, signaling a growing crypto economy in the country. Read more AI-generated news on: https://app.chaingpt.org/news

Changpeng Zhao, also known as CZ, has been moved to an administrative facility in the Greater Los Angeles area with 38 days left until his expected release from custody. Records from the United States Federal Bureau of Prisons show that Zhao is now at the Residential Reentry Management (RRM) Long Beach field office, after previously being at the Federal Correctional Institution Lompoc. The reason for the transfer before his scheduled release on Sept. 29 is unclear. In April, Zhao was sentenced to four months in prison for not maintaining an effective Anti-Money Laundering program at Binance. Following his resignation as Binance CEO in November 2023, Zhao pleaded guilty to a felony charge and agreed to a settlement with US authorities. Despite rumors online, there is no evidence to suggest that Zhao is currently free, as his release date remains unchanged on the BOP website. Read more AI-generated news on: https://app.chaingpt.org/news

BNB (BNB), the native token of BNB Chain, continues its impressive recovery streak for the third consecutive week with nearly 10% weekly gains. The surge to approximately $585 on Aug. 22 is fueled by factors such as Binance's compliance team expansion, anticipation of US interest rate cuts, and market-moving developments. Binance's decision to strengthen its compliance team aims to enhance regulatory efforts and operational stability, attracting more users and institutional investors. The rally also aligns with investors anticipating a dovish shift in US monetary policy, leading to a rise in BNB's price. Additionally, short liquidations in the futures market have contributed to the acceleration of BNB's price rise. Technical analysis suggests a potential breakdown point at $586, with a target of $480 in August if the price falls below. Readers are advised to conduct their own research before making investment decisions. Read more AI-generated news on: https://app.chaingpt.org/news

NBA star Jimmy Butler and crypto YouTuber Ben Armstrong, also known as 'BitBoy,' have agreed to collectively pay $340,000 to settle a class-action lawsuit accusing them of promoting Binance, which allegedly sold unregistered securities. The settlement, subject to preliminary approval by a Miami federal judge, aims to resolve a lawsuit ongoing since March 2023. Butler would pay $300,000, asserting his innocence and expecting absolution if litigated. Armstrong would pay $40,000, also denying any wrongdoing. The lawsuit, involving Binance, its former CEO Changpeng Zhao, and others, alleges the sale of unregistered securities. The Moskowitz Law Firm, leading the suit, emphasized accountability for all promoters. The settlement class may include millions of Binance users. The lawsuit highlights the risks associated with crypto promotions and the need for legal compliance in the industry. Read more AI-generated news on: https://app.chaingpt.org/news