Crypto
Binance Targets Thailand’s Crypto Oasis As Launchpad To 1 Billion Users | Bitcoinist.com
Binance is shifting its focus to increase cryptocurrency adoption in Thailand which could transform the future of digital assets in the Asian region.
Binance announced it wants to make virtual coins a mainstream currency in the Thai market, which could propel the crypto platform to hit 1 billion users.
Binance Chief Marketing Officer Rachel Conlan said that the crypto firm sees Thailand as a key strategic market in expanding its dominance in the cryptocurrency sector.
A Strategic Market
During the Binance Blockchain Week, Conlan explained that Binance’s primary market is Asia because there are many early crypto adopters in the country.
The Binance executive added that the Southeast Asian country has taken the “pioneering approach” when it comes to digital currency, believing that Thailand is moving in the right direction in making crypto regulations.
“I think that is what ultimately is going to help this industry thrive and drive forward,” Conlan remarked.
A High Crypto Penetration
Conlan explained that one of the reasons why Binance targets Thailand for its expansion is its high crypto penetration rate, which is twice the global average.
Statistics showed that the global crypto penetration rate is only 6% but Conlan said that in Thailand the penetration rate is pegged at 12%.
The Binance executive noted that Bitcoin adoption worldwide remains relatively low although cryptocurrency has been in existence for many years now.
Bitcoin market cap currently at $1.45 trillion. Chart: TradingView.com
In recent months, there have been several factors driving the surge in crypto.
Currently, the cryptocurrency platform operates in 100 markets globally with at least 240 million users. The crypto firm continues its business expansion wherein 60 million users were added in more than six months.
Turning Thailand Into A Crypto Hub
Binance’s crypto expansion is a welcome development in the Southeast Asian country as it aims to become a crypto hub in the region.
In October this year, Thailand’s Digital Asset Association president Nares Laopannarai said that it is plausible that the country could become a cryptocurrency center once strategic policies that support its development are implemented.
Laopannarai said that to be able to compete regionally, Thailand should bolster its position as a hub for digital assets by striking a balance between traditional finance and blockchain technology.
He added that the country is already going in that direction to become more supportive and less regulatory.
Binance Exec Filed Motion To Dismiss
In a related development, Binance lawyers and its ex-CEO Changpeng Zhao have asked the court to dismiss the charges filed by the US Securities and Exchange Commission (SEC) against them.
The crypto firm’s lawyers and its former executive argued that the SEC’s amended complaint is a “lip service” to a previous ruling of the court which stated that crypto assets are treated as securities.
They added it seems that the SEC did not recognize the impact of the court’s ruling in cryptocurrency trading, saying that secondary market resales of crypto do not constitute “securities” transactions.
Featured image from Wanderlust Travel Magazine, chart from TradingView
Crypto
Former NYC Mayor Eric Adams unveils ‘NYCToken’ cryptocurrency he claims will fight antisemitism
Swagger remains his currency.
High-flying Eric Adams returned from his post-mayoralty travels to unveil the “NYC Token” on Monday, moving forward on his bizarre vow to tackle antisemitism with cryptocurrency.
Adams announced the crypto coin in Times Square, surrounded roughly a half dozen reporters curious to see what the former mayor would say in his first public appearance since leaving office not even two weeks ago.
“One focus we have on this New York City coin is to use the revenue generating to address anti-Americanism, antisemitism, to teach our children how to embrace the blockchain technology of how to run cities correctly,” Adams said.
“As Walmart is using blockchains to deal with their food chain and transparency, we know cities can run better, and by using this New York City token, this New York City token, we’re going to continue to invest in making our city a safer city.”
While the former Hizzoner was still vague on details, the broad strokes of his grand plan are essentially that profits from the “NYC Token” will go into a still-unnamed nonprofit, which will then fund groups that combat antisemitism.
Historically black colleges and universities also will somehow be involved in Adams plans, he said.
“I’ve talked about it often, I want to get on our college campuses and make sure that we start the process of having our young people appreciate our country today,” he said.
The crystal-loving, ghost-believing Adams made clear early in his first and only term that he was a devotee of the magic of cryptocurrency. He famously took his early paychecks in cryptocurrency and cultivated close ties with Bitcoin billionaire and former “The Mighty Ducks” star Brock Pierce.
Adams is one of three creators behind the “NYC Token,” he said, noting Pierce was not involved.
He said the other creators are listed on the crypto coin’s website, but the page remained blank Monday other than two slogans and a link to follow the token’s X account.
For those worried the whole venture could be a money-making scam, Adams promised he wouldn’t take a salary — at least at first.
“I’m not taking a salary at this time,” he said. “Down the line, if you take the determination of doing so, we will reveal that.”
The famous frequent-flyer-mile-collector said he had been spending his days since leaving office in Dubai and the Congo.
The jet-setter ex-mayor teased that he will be working with other countries across the globe and bringing the Big Apple’s “levels of services” abroad.
Mayor Zohran Mamdani didn’t seem too jazzed about his predecessor’s plans. When asked if he’d buy one of Adams’ crypto tokens, the new mayor had a one-word reply.
“No,” Mamdani said with a smile.
Financially Settled Ether (“FET”) Futures
| Vendor | Front Month | M25 Contract |
|---|---|---|
| Activ Financial / Options Technology | FET/*.CF | FET/25M.CF |
| BarChart | Y9*0 | Y9M5 |
| Bloomberg | FET = FTEA Curncy | FET = FTEA Curncy |
| CQG | FET? | FETM25 |
| DevExperts | /FETM25:XCBF | /FETM25:XCBF |
| DTN IQ | @FET | @FETM25 |
| DTN ProphetX | @FET | @FETM25 |
| Factset | FET.1-USA | FETM25-USA, FETM25-CBF |
| Interactive Data / ICE | F2:FET1C | F2:FETM25 |
| LiveVol | N/A | FETM25 |
| Morningstar | FET0Y | FETM25 |
| PICO | FET/M5 June 2025 | FET/M5 June 2025 |
| Silexx | N/A | FET/M25 |
| Six-Group | FET | FET5M or FETM5 |
| TradeStation | FETM25 | FETM25 |
| Trading Technologies | FET Jun25 | FET Jun25 |
Financially Settled Bitcoin (“FBT”) Futures
| Vendor | Front Month | M25 Contract |
|---|---|---|
| Activ Financial / Options Technology | FBT/*.CF | FBT/25M.CF |
| BarChart | Y7*0 | Y7M5 |
| Bloomberg | FBT = FXBA Curncy | FBT = FXBA Curncy |
| CQG | FBT? | FBTM25 |
| DevExperts | /FBTM25:XCBF | /FBTM25:XCBF |
| DTN IQ | @FBT | @FBTM25 |
| DTN ProphetX | @FBT | @FBTM25 |
| Factset | FBTC.1-USA | FBTCM25-USA, FBTCM25-CBF |
| Interactive Data / ICE | F2:FBT1C | F2:FBTM25 |
| LiveVol | N/A | FBTM25 |
| Morningstar | FBT0Y | FBTM25 |
| PICO | FBT/M5 June 2025 | FBT/M5 June 2025 |
| Silexx | N/A | FBT/M25 |
| Six-Group | FBT | FBT5M or FBT5M |
| TradeStation | FBTM25 | FBTM25 |
| Trading Technologies | FBT Jun25 | FBT Jun25 |
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