

Binance Launches BAB, the First Soulbound Token on BNB Chain

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The BAB Token is proof of identiy for verified Binance users. The soulbound token gives holders benefits and perks on BNB Chain projects
Soulbound Tokens on BNB Chain for Verified Binance Users
Leading cryptocurrency exchange Binance launched the Binance Account Bound (BAB) token on BNB Chain Sept. 8. Designed to function as a “soulbound token,” BAB is used as proof of identity for Binance users who have completed KYC verification.
According to Binance, BAB tokens cannot be transferred as they are unique to each user on BNB Chain. Therefore, a verified Binance user ID can only be used to mint one BAB token on a BNB Chain. They are, however, revocable, after which tokens will be locked up for 72 hours.
In a later announcement by BNB Chain on the same day, the network confirmed the selection of 15 projects that have partnered with Binance to offer their users benefits tied to the BAB tokens, such as exclusive airdrops and VIP perks.
These projects include ApeSwap, ApolloX, PearDAO, Project Galaxy, X World Games, Summoner's Arena, Ultiverse, CyberConnect, P12, Math Wallet, LiveArt, OpenOcean, TinyWorld and The Harvest.
How BAB Will be Utilized
According to the blog post, BAB holders on Apeswap will have exclusive rights to NFTs representing raffles that can be utilized on the Decentralized Finance (DeFi) protocol. In addition, BAB holders on ApolloX will have a privileged reward program.
As for holders of BAB on PearDAO, they will receive GameFi tokens which will grant them special voting rights in the DAO’s governance and dispute handling within the PearDAO ecosystem. In addition, holding BAB on Project Galaxy will entitle such a holder to be added to Project Galaxy’s credential database to protect against Sybil attacks.
BNB added further that holders of BAB tokens on X World games would receive a one-time airdrop prize upon their first login to each game. They are also entitled to various VIP perks. On Ultiverse, BAB holders are exempted from KYC and are entitled to a wide range of benefits on the social gaming metaverse.
In addition, BAB holders on Cyberconnect will display it on their profiles to signify that they are not bots. For holders on P12, BAB tokens will provide access to token airdrops and serve as admission ticked to all BNB Chain and P12 events.
Lastly, BAB holders on Summoner's Arena, Math Wallet, LiveArt, OpenOcean, TinyWorld and The Harvest, are offered exclusive community and membership benefits.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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XBOX Audio: The Latest Addition to a Financial Criminal's Arsenal?

Viggiano tipped his friends about insider information on some stock which they traded for profit. Further, some of the information was shared through an XBOX audio chat, according to the SEC.
The U.S. Security and Exchange Commission (SEC) filed a complaint on Thursday in the U.S. District Court for the Southern District of New York. According to the agency, XBOX's audio chat was used to share insider trading of securities.
The SEC charged Viggiano, Salamone, Forlano, and Bleckley with violating the antifraud provisions of the federal securities law. According to the agency’s press release, Viggiano, in connection with his work at two financial institutions, learned about “impending merger and acquisition transactions and strategic partnerships before they were publicly announced.”
The former analyst, Anthony Viggiano, allegedly gained access to eight of such transactions and shared them with his friend, Salmone. Salmone used six of the insider information to trade in advance and earn up to $322,000. However, the profit was shared with Viggiano because his company prohibited him from using the information to trade.
Viggiano tipped Forlano with at least four of the transactions as well, and he made up to $113,000 from three transactions. Further, Forlano gave the insider information to other individuals, including his close friend, Bleckley. Forlano’s college friend Bleckley traded with two transactions and earned approximately $25,000.
According to page 23 of the report Forlano gave the insider information about the transaction to Bleckley through an XBOX audio chat, with the understanding that the information came from Viggiano. Using the XBOX audio chat, Forlano gave Bleckley insider trading knowledge about ECOM’s stock.
“On or before August 31, 2022, Forlano instructed Bleckley to use XBOX audio chat to communicate. Using the XBOX audio chat, Forlano told Bleckley that ECOM would get acquired soon, including telling Bleckley an expected purchase price per share. Bleckley understood that the ECOM material nonpublic information he received from Forlano came from Viggiano,” the report read.
In a personal statement, the Chief of SEC’s Market Abuse Unit, Joseph Sansone, stated that Viggiano violated his employers’ trust by leaking the information to his friends for personal gain.
“As alleged in our complaint, Anthony Viggiano violated his employers’ trust by misusing his access to confidential information to repeatedly and unjustly enrich himself and his friends,” Sansone said.
In the meantime, there is no information on how the SEC uncovered the Xbox call during the investigation. However, when bad incidents occur, the gaming console can record and share in-game audio with Microsoft.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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