Binance Secures 21st Global Licence in Brazil
In a significant milestone for cryptocurrency adoption in Latin America, Binance, the world’s largest crypto exchange, has received its 21st global regulatory authorisation. Approved by Banco Central do Brasil (BCB), Brazil’s central bank, Binance has been licensed as a broker-dealer in the country.
The approval also enables Binance to acquire São Paulo-based investment platform Sim;paul, a broker-dealer authorised to distribute securities and issue electronic money (EMI). This makes Binance the first cryptocurrency exchange to secure a broker-dealer licence in Brazil, the most populous country in Latin America.
This regulatory nod follows similar approvals in other countries, including Argentina, India, Kazakhstan, and Indonesia, highlighting Binance’s commitment to expanding its global footprint.
Trader Turns $66 Into $3 Million Following Elon Musk’s Name Change
A lucky cryptocurrency trader has achieved a remarkable profit of over $3 million after investing just $66 in a memecoin inspired by Elon Musk’s temporary name change on X (formerly Twitter). Musk briefly changed his display name to “Kekius Maximus,” referencing a Pepe-Gladiator meme, which sparked interest in the newly created memecoin named Kekius Maximus (KEKIUS).
The trader purchased 10.17 million KEKIUS tokens on 14th December for $66 and sold 2.81 million of them for 60.3 Ether (equivalent to approximately $208,000) on 1st January. The remaining tokens mark an astronomical paper gain of 45,900%, according to blockchain analytics firm Lookonchain.
The KEKIUS memecoin, a blend of the popular internet meme Pepe the Frog and Gladiator protagonist Maximus Decimus Meridius, quickly gained traction. Created on 13th December, the token reached a market capitalisation of $380 million by 1st January, according to CoinGecko data.
Floki DAO Funds ETP Launch With Community Wallet
The Floki DAO has unanimously voted to use a portion of its community buyback wallet to provide liquidity for its upcoming Exchange-Traded Product (ETP). The wallet, which holds 16.3 billion Floki tokens, will support the ETP set to launch in Q1 2025.
This initiative will allow traditional finance investors in Europe to gain exposure to Floki, a popular memecoin currently ranked 66th by market capitalisation.
According to CoinGecko, memecoins were the second-best-performing cryptocurrency sector in 2024, delivering an average return of 2,185% to investors. Only the artificial intelligence sector performed better, with an average return of 2,939%.
The Floki ETP represents a significant step in bridging the gap between traditional finance and the world of decentralised finance, showcasing the growing interest in memecoins among institutional investors.
