One of the world's largest cryptocurrency exchanges by market cap <a href="https://www.cryptoknowmics.com/news/binance-announces-signing-memorandum-of-understanding-with-cdft">Binance</a>, which is run by Changpeng "CZ" Zhao, has opened two new offices in Brazil to penetrate that market, which is reportedly home to more than 34.5 million cryptocurrency users. On October 3, Binance <a href="https://twitter.com/binance/status/1576995505405497344?">announced</a> the opening of offices in So Paulo and Rio de Janeiro, with more than 150 staff members working throughout the company's Brazilian businesses.

https://twitter.com/binance/status/1576995505405497344?

The announcement states that the exchange operates in full compliance with the regulatory framework of Brazil and that it believes that legislation is the only way for the digital asset industry to develop and attain the general populace, enabling more individuals to enjoy the advantages that cryptocurrencies and blockchain offers.
<h2>Binance Doubled Its Size of Workforce in Brazil</h2>
Binance said that since CZ's initial visit to the nation in March, it has been focusing on Brazilian development and has doubled the size of its workforce there.

Additionally, in September, Binance held a number of blockchain and cryptocurrency workshops for law enforcement organizations in Brazil and Argentina to assist them in identifying and combating cryptocurrency crime. After a surge of regulatory assessments and inquiries from various government agencies in 2021, the corporation has noticeably increased its attention on cooperating with authorities.

According to blockchain research company Chainalysis, which recently ranked Brazil eighth in the 2022 Global Crypto Adoption Index study, the Brazilian market appears to be well-positioned for future development. Brazil has been rated just two spots below the United States and five spots ahead of Argentina, another country in Latin America.
<h2>Binance Burns $1.8M in LUNC Trading Fees</h2>
Today, Binance has <a href="https://www.binance.com/en/support/announcement/4769eab576c4479eaa14adc1eb587226">announced</a> that it has completed the first burn of <a href="https://www.cryptoknowmics.com/news/binance-to-implement-terra-classic-burn-mechanism-on-trading-fees">Terra Classic</a> token transaction fees following a September community proposal. Binance CEO Changpeng Zhao stated in an update on October 3 that the exchange has burned nearly $1.8 million in Terra Classic (LUNC) trading fees for the LUNC/BUSD and LUNC/USDT spot and margin trading pairings. Terra Classic, previously Terra (LUNA), is a cryptocurrency. The burn comprised over 5.5 million LUNC, or the equivalent of 1,863,213.47 Tether (USDT), according to Binance.

https://twitter.com/cz_binance/status/1576996487241748480?

Binance Opens Two New Offices in Brazil As Team Doubles Since March

Binance announced opening of offices in So Paulo and Rio de Janeiro, with more than 150 staff members working throughout the company's Brazilian businesses.

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Binance Opens Two New Offices in Brazil As Team Doubles Since March

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