Binance Unveils Educational Series to Tackle Crypto FUD
Binance, the world’s largest cryptocurrency exchange by trading volume, is rolling out a fresh educational series dubbed “Unmasking Your Top Five Halloween Crypto Creepers,” to tackle some of the disinformation, myths, inaccuracies, and FUD (fear, uncertainty, and doubt) in the crypto ecosystem.
While Bitcoin (BTC) and other cryptocurrencies have witnessed increased popularity and adoption across the globe in the past few years, a recent study has revealed that a good number of people still do not fully understand what this innovative technology is all about.
According to a statement shared with crypto.news, Changpeng Zhao’s Binance exchange recently conducted a social media poll to find out what the people feared most when it comes to crypto investing, and the researchers made several worrying discoveries.
Specifically, about 30 percent of respondents indicated that the lack of adequate information on the workings of crypto was their major problem. In comparison, 42.8 percent of respondents stated that the market’s unpredictability, uncertainty, and volatility were their fear.
Demystifying Crypto and Web3
The educational series will examine five major areas that trigger FUD in the hearts of crypto newbies, including volatility, scams, regulation, and utility. The educational series will adopt the Halloween concept and feature an FAQ segment where ‘Winny the Web3 Witch’ will answer all of the confusing questions in the Web3 sector.
Binance wrote:
“Binance will be exploring a number of questions – bringing together independent research and information from a variety of sources to explain the real facts to counter a number of common myths. A common myth for example is that ‘crypto is used by mostly criminals.’ However, the facts are that crypto is now used by close to 300 million people worldwide.”
Binance has long been among the most active players in driving crypto adoption through awareness and education. The world’s largest exchange has launched many global awareness campaigns and educational initiatives.
In 2018, Binance created the Binance Academy, which provides free education on blockchain topics, crypto assets, and general financial literacy in over 20 languages.
In June 2022, Binance Labs, the investment arm of Binance, raised a $500 million fund in collaboration with global investors, including DST Global Partners and Breyer Capital, to foster innovation across the crypto, Web3, and blockchain landscape.
The exchange has also collaborated with celebrities, athletes, and famous individuals to promote crypto products like NFTs, DeFi, and others. Most notably, the exchange teamed up with football legend Cristiano Ronaldo to create an exclusive non-fungible token (NFT) collection. The freshly minted NFTs were displayed on Binance’s platform, BinanceNFT, and sold out immediately.
The leading crypto exchange platform recognizes the importance of governments accepting crypto in the adoption rate; that’s why they have partnered with many countries to boost the adoption of blockchain technology and cryptocurrency in their countries. Most recently, Binance partnered with the Nigerian government to launch a digital economic zone to facilitate the growth of Nigeria’s blockchain sector.
While Binance remains one of the leading platforms working hard to foster mainstream crypto adoption, the company has recently been the subject of several controversies. In October 2022, Reuters published an exclusive report accusing Binance’s CEO Changpeng Zhao (CZ) and his aides of “plotting to dodge regulators in the U.S. and UK.”
However, CZ and his team have swiftly debunked the accusations, stating that the reporters have been biased in their assessment of the situation. CZ also blasted the news agency for trying to involve his children in the matter.
“What’s unique this time is that they’ve signaled a new low and have crossed the line into indefensible territory. They have signaled an intent to report about my children,” he added.
