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BTC $63,097.75 -0.01%
ETH $1,678.28 +0.68%
BNB $603.66 +1.36%
XRP $1.17 +2.16%
SOL $66.79 +1.32%
TRX $0.3236 -0.84%
DOGE $0.0862 +0.96%
ADA $0.1700 +4.14%
BCH $210.23 -2.73%
LINK $7.92 +0.38%
HYPE $62.09 -1.35%
AAVE $62.85 +0.51%
SUI $0.7542 -0.51%
XLM $0.2013 -0.69%
ZEC $468.62 +8.22%

privileges

Bitget executives interpret IPO Prime: Pre-IPO opportunities shift from capital privileges to shared access for all

Today, Bitget, in collaboration with media outlet Rhythm, held an online live broadcast themed "Dialogue with Bitget Executives: A Comprehensive Breakdown of the SpaceX Ticket, from Capital Privilege to Universal Sharing," providing a systematic interpretation of the product mechanisms of IPO Prime and preSPAX.Ken, the product head of Bitget IPO Prime, stated that IPO Prime is not the traditional "new coin listing," but rather utilizes digital tokens issued by the regulated issuer Republic to transform the high-threshold, low-liquidity non-standard assets of the primary market into priceable, tradable, and exit-able digital products.Ken pointed out that Pre-IPO opportunities have long been scarce, not only because the targets are of high quality but also due to the inherent high thresholds, strong circles, and low liquidity issues in the primary market. The launch of IPO Prime by Bitget aims to provide users with the opportunity to access potential economic benefits before the listing of unicorn companies through clearer product design and trading mechanisms within a compliant framework.The first phase of the preSPAX launched is an important attempt in this direction, focusing on providing users with a more flexible and tradable participation path.He further stated that from crypto trading to UEX, and now extending to the primary market, Bitget has been continuously pushing the boundaries of trading. In the future, the platform hopes to do more than just list more assets; it aims to further bridge the previously fragmented opportunity structures between different markets, allowing users to access earlier, higher quality, and more diverse global asset opportunities within the same system.

U.S. Treasury: Binance grants VIP users the privilege of receiving advance notice when under investigation by law enforcement

ChainCatcher news, according to the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), Binance's VIP users are granted a range of special privileges, including receiving advance notice when subject to law enforcement investigations. According to FinCEN's description, Binance VIP team members are instructed to contact the users under investigation "by all available means," including sending text messages and making phone calls to notify customers, for example, that their accounts have been frozen or unfrozen.In response, FinCEN warned Binance VIP team staff not to be too obvious in their prompts. The company told the VIP team: "According to FinCEN's orders, we must not give a strong hint or directly ask users to run/exit under any circumstances, otherwise we will be prosecuted or held personally liable. For instance, saying your account has been unlocked/your account has been investigated by XXX is usually a sufficiently obvious serious hint."According to FinCEN, Binance's internal reports indicate that in 2019, VIP customers "accounted for two-thirds to three-quarters of Binance's trading volume and trading revenue," adding that "therefore, Binance has significant commercial motivation" to go all out to support these VIP users. "Although the rules prohibit U.S. persons from trading on the platform, U.S. users "represent an important part of the VIP user group," sometimes accounting for 20% of the trading fees on the exchange platform.
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