Binance has become the world's first exchange to receive an Operational Minimum Viable Product (MVP) License from Dubai's Virtual Assets Regulatory Authority (VARA). Eligible users can now access regulated virtual asset services in Dubai under VARA’s investor protection and market assurance standards. This achievement confirms Binance's commitment to building a compliant exchange in collaboration with local regulators.

Ripple's XRP has regained its position as the fourth-largest cryptocurrency by market capitalization, displacing Binance's BNB coin. This was due to a surge in trading volume following a ruling that declared Ripple's sale of XRP tokens in 2020 did not qualify as the sale of an "unregistered security." However, XRP's on-chain assessment has revealed a decline in daily active addresses and new demand since mid-July, leading to a shortfall in profits. 

The Terra Luna Classic community has burned a total of 70 billion LUNC, marking another milestone in their efforts to reduce the circulating supply since May 18, 2022. Binance, the world's largest crypto exchange, has contributed over 50% to the total LUNC burned by burning almost 36 billion LUNC. While the circulating supply of LUNC is 5.81 trillion and the total supply is 6.84 trillion LUNC, the community needs to increase utility to increase the LUNC burn rate. The Terra Luna Classic burn campaign has been successful, with an average of 400 million LUNC burned per week, but the LUNC price has fallen 1% in the past 24 hours and is currently trading at $0.000081.

Binance, the world's largest cryptocurrency exchange, and its CEO Changpeng "CZ" Zhao are facing increased regulatory scrutiny in the euro area following lawsuits by the US SEC and CFTC, according to the Wall Street Journal. Germany's financial regulator, BaFin, has recommended that Binance withdraw its license application due to concerns about CZ and the exchange's complex structure. Binance has also withdrawn license applications in several other EU countries and faces scrutiny from regulators in France, Belgium, and the UK, as well as losing its European banking partner PaySafe. Despite this, a spokesperson for Binance has stated that the exchange will continue to pursue necessary regulatory approvals to conduct business in Germany.

Anonymous whales have moved almost 50 billion Shiba Inu meme coins in the past three hours, according to data from Etherscan. The transactions were made between various wallets, including Binance and KuCoin exchanges.

The SEC and Binance have opposed a petition by third-party entity Eeon to intervene in the lawsuit on behalf of customers. Binance gave three reasons for dismissing the petition, including Eeon's failure to meet requirements for intervention under the law. The SEC argued that Eeon is a serial pro se litigant whose causes have failed to gain traction in federal courts, and requested the court to deny the petition. Meanwhile, Binance has filed a motion to dismiss the US CFTC lawsuit claiming that it lacks jurisdiction on the global crypto exchange and the right to sue its CEO CZ.

Binance has launched a new AI NFT generator called Bixel, which allows users to create personalized digital artworks using cutting-edge technology. The tool is accessible to all and the first 10 artworks are free. Users must complete the platform's KYC identity validation process to use the tool and pay a minting fee of 0.008 BNB ($1.90) to mint NFTs via Binance's blockchain network. Binance is committed to empowering artists to create attractive digital art that can easily and securely be shared, sold, and traded for financial gain on a global scale.

According to Bloomberg: Lawyers for Binance and CZ filed a motion to dismiss with a Chicago court on Thursday, stating, “In this case, the CFTC seeks to regulate foreign individuals and companies that reside and operate outside the United States. This went beyond the limits of its statutory authority and trampled on deep-seated principles of comity with foreign sovereign states.” The U.S. Commodity Futures Trading Commission (CFTC) sued the company and CZ in March, accusing them of knowingly taking steps to circumvent U.S. laws, including knowingly allowing Americans to use the platform to buy and sell cryptocurrency derivatives, even though Binance never registered.

Binance's BNB Chain faced a decline in revenue and coin value due to regulatory issues and lower transaction fees. However, the blockchain made upgrades and plans to expand its validator model, resulting in stable staking and increased transactions and daily active addresses. NFT activity on the chain increased in Q2, but GameFi activity slowed down by 3%.

According to Whalealert, 3 mins ago, 1,499 BTC (44,314,515 USD) transferred from unknown wallet to Binance.