In today’s edition of This Week at Binance (July 30 to Aug 6, 2021): Binance Charity announced its continued commitment to the citizens of Malta, Gary Vee joined us on our latest Binance podcast, we released our new Tax Reporting Tool and Binance Labs announced a strategic investment with NFKings.
Summer is in full force! Take a break from the charts, enjoy the sun outside and get your daily dose of Vitamin D or practice your walking so you can become an Olympic speed walker.
Weekly Market Recap
This week we saw the total crypto market cap increase 8.44%, from $1.54T on July 30th to $1.67T at the time of writing.
Bitcoin (BTC) increased to a weekly high of ~$42,345 on Aug 1 before bouncing off a low at ~$37,662. BTC currently trades at ~$40,593 as of writing.
During the same period, Ethereum (ETH) increased from ~$2355 on July 30th to a weekly high of ~$2,827. ETH currently trades at ~$2,741 as of writing
1. Binance Charity’s commitment to the citizens of Malta
In 2018, we worked with the Malta Community Chest Fund (MCCF) to raise crypto funds for patients suffering some terminal cancer. Since then, there have been issues we have been, unfortunately, trying to resolve in an amicable manner with MCCF. Binance Charity has every intention to fulfill its charitable obligations and we want to assure that this fund will always be dedicated to the citizens of Malta. In fact, the 30,664 BNB donated in 2018, has appreciated in value, from $200,000 USD in 2018 to ~$9 million USD as of July 2021, and will help even more people in need. As part of our ongoing effort to improve the lives of people around the world, Binance Charity is 100% committed to full transparency and ensuring all donations are distributed to those who are in need.
2. Gary Vee shares his crypto journey on our latest podcast
Gary Vee, serial entrepreneur, author, speaker and wine critic tuned into our latest Binance Podcast to drop doses of insight and inspiration on topics ranging from crypto, NFTs, and most important of all—living a happy life.
Binance’s venture capital arm and incubator, Binance Labs, officially announced its investment with NFKings, a leading NFT creatives and production company with over 100 intellectual properties (IPs), to build an inclusive ecosystem, foster the growth of NFT and bring unique digital content to the global community.
4. Introducing the Binance Tax Reporting Tool
Stay on top of your crypto tax requirements with our brand new tax reporting tool. Instantly generate statements and transaction records dating back to more than one financial year, and integrate with third-party tax vendors to file your taxes in seconds.
Other Bits to Consider
Binance Staking Launches OAX Staking with Up to 23% APY. Starting from Aug 3, earn up to 23% APY when you stake your OAX. (Read more)
Binance will restrict Derivative product offerings in Hong Kong. Effective immediately, users from Hong Kong will not be able to open new derivatives products accounts. Also, with effect from a date to be announced at a later notice, users from Hong Kong will have a 90 day grace period to close their open positions. (Read more)
Binance Resumes ETH and ERC-20 Tokens Deposits and Withdrawals. The Ethereum London Hard Fork has been completed and no new tokens have been created. Binance has resumed ETH and ERC-20 tokens deposits and withdrawals. (Read more)
0 Maker Fees for GHS, KES and ZAR on Binance P2P. From now till August 30, All eligible makers who post new BNB, BTC, BUSD, DAI, ETH and USDT ads traded with fiat currencies GHS, KES and ZAR during the activity period, will enjoy 0 transaction fees on these trading pairs during the period. (Read more)
BAKE and TRX on Binance Liquid Swap. We’re excited to announce that Binance Liquid Swap has added support for BAKE and TRX, and opened 7 new liquidity pools. (Read more)
Binance NFT launches Bit has Memories collection. The “Bit Has Memories” Premium Art Auction Event will be available on the Binance NFT Marketplace from now till August 11. (Read more)
Educational Bits From the Academy
How is crypto taxed? HODLer or trader, you’ll need to pay taxes on your crypto at some point depending on your jurisdiction. Find out what you need to know in this article about crypto taxes. (Read more)
The best wallets for BSC. The right crypto wallet depends on what you need and prefer. Learn about the different wallets on Binance Smart Chain and pick the right one for your crypto journey. (Read more)