This transformation from a simple trading hub to a part of sovereign infrastructure is not simply a matter of corporate growth; This is a reflection of where the “plumbing” of the industry really lives. Reaching a milestone of 300 million users is a huge vote of confidence in the underlying systems that keep the digital economy moving. In a joint year-end address, Binance co-CEOs Yi He and Richard Teng said “We saw that the number of movements behind us had increased so much that we had to hold our breath: 300 million.“ Confirming that as the ecosystem matures, Binance will continue to be the “road builder” for the next wave of global adoption.

The scale of this liquidity has been documented in the latest ecosystem reports. In 2025 alone, Binance saw trading volume of $34 trillion, contributing to an all-time volume of $145 trillion. For the individual user, these metrics focus on performance reliability. This means that whether a participant is trading one of 490 spot assets or using 1,889 trading pairs, the depth of the platform is designed to handle high volume transactions with minimal slippage. This depth is the reason the platform has become the central port for the entire industry.

The impact of these defensive systems is measurable and significant. according to Binance 2025 Year End ReportInternal risk management and monitoring prevented potential losses of approximately $6.69 billion 5.4 million users In 2025. This was not the result of chance, but a sophisticated blend of AI-powered monitoring and human expertise working around the clock.

Beyond prevention, the platform’s security team played an active role in recovery, helping 50,000 victims recover $11.7 million in lost or stolen assets last year. By reducing direct exposure across key illicit fund categories by 96% since 2023, the platform is demonstrating that as an ecosystem scales, its ability to protect its users can and should grow with it. This proactive defense is a primary reason why the global community continues to prefer this infrastructure over less-protected alternatives.

As of early 2026, the PoR system confirmed that the platform held $162.8 billion in user assets, with all user funds backed at a 1:1 ratio. This means that for every unit of currency deposited by a user, the platform reserves at least the same amount. To provide an additional layer of protection against extreme market events, the platform maintains $1 billion Secured Asset Fund for Users (SAFU). The fund acts as a dedicated insurance reserve, providing a level of protection that sets a benchmark for the entire industry.

Binance Pay has been the central driver of this change. In 2025, the payments service saw its user base grow 30% year-on-year, supported by a merchant network that now includes 20 million businesses worldwide. By supporting over 800 payment methods and maintaining over 100 fiat ramps, the platform has lowered the barrier between local cash and the digital economy.

This ecosystem also provides users with ways to put their assets to work. In 2025, Binance Earn Suite distributed $1.2 billion in rewards to participants. By offering these tools, the platform ensures that digital assets are not merely speculative, but serve as a functional component of modern financial life.

In 2025, the platform’s community teams organized more than 1,000 local events – from university workshops to community meetings – are reaching 3.7 million participants. This commitment to knowledge ensures that as the “next billion” users enter the sector, they do so with a clear understanding of the technology and the risks involved. As Co-CEO Yi He said, “Together, we bring diverse perspectives and are confident in leading the future of the industry during this critical time, as we responsibly expand our global presence and drive sustainable innovation while always keeping our users at the center.”

In 2025, the platform invested $200+ million in its compliance program, and this investment has enabled the platform to secure over 20 regulatory approvals and registrations globally, including ADGM’s historic full authorization from the Financial Services Regulatory Authority (FSRA). By proving that high-growth infrastructure can co-exist with rigorous oversight, the platform is paving the way for widespread institutional and retail adoption.

By integrating deep liquidity, institutional-grade security and localized payments rails into a single, cohesive operating stack, Binance is no longer just a participant in the crypto market, it is the ground on which the market stands. For 300 million people, this infrastructure is key to determining the future of money.

Risk Warning: Digital asset prices can be volatile. The value of your investment may go up or down and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you suffer. This article is not financial advice. VDA products and NFTs are unregulated and can be extremely risky. There may be no regulatory recourse for any losses arising from such transactions. For more information see terms of use And risk warning.

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Note to Reader: Readers are advised that crypto products and NFTs are unregulated and involve significant risks. There may be no regulatory recourse for losses arising from such transactions.

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In 2006, you had hailed the DMK manifesto as the “hero of the elections”. Can I say this time you are the hero of the DMK-Congress alliance, because, it looks, but for your intervention, the two parties could have drifted?

I am afraid no, my role is exaggerated. The Congress president asked me to meet the DMK president and Chief Minister (M.K. Stalin) and try to tie up the loose ends. I met him once. And then they agreed late in the evening.

Congress leader Rahul Gandhi shared a brotherly bond with Mr. Stalin. Yet strains emerged during the alliance talks. What went wrong?

I would not attribute it to Mr. Rahul Gandhi. There were some strains in the early rounds of talks that could have been avoided. But that is all behind us. We have an amicable agreement and we will contest the elections together. I think the role of each one, need not be discussed now.

Some of the older allies of the Secular Progressive Alliance are unhappy over the seat allocation, when the Congress tally has increased and DMDK got 10 seats. Will this affect ground level coordination? Shouldn’t Mr. Stalin have been less rigid with loyal allies?

There is always some dissatisfaction all round. In a marriage, the bride side and the bride groom side will have always some dissatisfaction. As long as there is general satisfaction and some points of dissatisfaction, it means that the alliance has been negotiated correctly. I think the addition of new parties to the alliance imposed limitations on the DMK and its leader. And the admitted self confessed growth of each party increases their aspirations. Their aspirations and limitations have to find a meeting point. (As far as) the Congress is concerned, we found a meeting point at 28 and I think other leaders have also found meeting points and I saw statements by Communist Party of India, Communist Party of India (Marxist). They have no after event dissatisfaction.

But when leaders publicly express dissatisfaction, the cadres could get impacted…

No, it won’t affect the grassroot coordination at all because the cadres of all parties have (in a) united voice told me and told others that we should conclude the negotiations quickly and can start the campaign. In fact, they are waiting for the campaign to start. So the cadres are not divided at all.

In my travel last week and the year before that I have met DMK, Congress, and Viduthalai Chiruthaigal Katchi workers. They all said, please conclude the negotiations quickly so that we can start the work. So the cadres have been ready for the last three months. Leaders may have had some differences, but all that has been ironed out.

Mr. Stalin is framing this elections as a fight between Tamil Nadu and New Delhi. Do you endorse this? And would such a narrative work in an Assembly election?

That’s entirely correct. You see, the puppet is the AIADMK, the puppeteer is the Bharatiya Janata Party. All the rest don’t count. Unfortunately, in an Assembly election, instead of calling the shots, the AIADMK has ceded the ground and the leadership and the direction to the BJP.

Now, the BJP is determined to pass several bills which have caused great dissatisfaction throughout the country. The IBC Amendment Bill, FCRA Amendment Bill, CAPF Amendment Bill. All these have a great impact on the whole country. When we campaign, we will expose the serious consequences of these bills. But the AIADMK doesn’t say a word in Parliament and outside. Which means it is going along with everything that the BJP is doing. The AIADMK seems to be under pressure or compulsion to toe the line.

So it is not a fight between the INDIA bloc and the AIADMK bloc. It’s really a fight between the Secular Progressive Alliance and the BJP. You will find that the main issues in this election are the ways in which BJP is injecting, imposing its Hindutva majoritarian agenda on the people of India, especially Tamil Nadu.

But AIADMK leader Edappadi K. Palaniswami is asserting he is the boss of the NDA in Tamil Nadu. He appeared to be in command in allotment of seats and constituencies to allies…

He himself went to Delhi to meet the BJP leadership and seal the deal.

So Mr. Palaniswami is not in command?

He is in command of the AIADMK, but he is not in command of the election. He is not in command of the strategy, is not in command of the issues that will be discussed in the election. You wait until the issues unfold. He will look up to the BJP to defend those issues. What is his position on the IBC Amendment Bill or FCRA Amendment Bill?

With the entry of actor Vijay’s Tamilaga Vettri Kazhagam as a potentially strong disruptor, some are not ruling out the likelihood of a hung Assembly. Do you agree? I am asking because in the 2006 elections, when M. Karunanidhi and J. Jayalalithaa were around, the entry of Vijayakanth’s Desiya Murpokku Dravida Kazhagam had reduced the victory numbers of the DMK to below 100.

See, Mr. Vijay is not Mr. MGR or Mr. Vijayakanth. He is a popular actor but his fan club may not convert to voters. He will get votes, but will he get seats? I have spoken to hundreds of party workers. The uniform opinion is Mr. Vijay may get about 7 to 8% votes. One or two people say it may go up to 12%.

Now as the campaign progresses and as the election date nears, this 12% has no way of increasing. I will tell you why. It’s simple common sense. If I have three candidates, DMK, AIADMK or Congress, a BJP, I will realise as a voter very early that Mr. Vijay can’t win. In a three cornered contest, you must have at least 37% to get seats. In a four cornered contest, maybe 32% is sufficient. In a direct contest, you must have at least 43 to 45% to win. But Mr. Vijay’s party is well below the threshold. He won’t win seats. He may win if he contests in one constituency, but the people will start talking “he’s a losing candidate.” And losing candidates don’t return to the constituency. It is the number of seats Mr. Vijay wins which will lead to a hung Assembly. But if he wins zero to three seats, it won’t make a difference.

Wouldn’t he spoil the victory prospects of DMK and AIADMK?

No, the votes will be broadly divided into the AIADMK alliance and the DMK alliance. I am confident the DMK bloc will get a majority.

Mr. Stalin and Mr. Palaniswami have ruled out sharing power with allies. Is this stand right, especially when they both need allies to win elections and they had at different points shared power at the Centre?

It’s premature to talk about sharing power. The DMK and the AIADMK have reiterated their known positions. Other parties have stated their known positions that “we would like sharing of power”. So both sides have not said anything new or revolutionary. They have stated, they have iterated, their known positions and after the elections, things will happen.

But their argument is the people of Tamil Nadu will not accept a coalition agreement. Do you agree?

I don’t agree with the broad proposition that the people of Tamil Nadu will never agree to a coalition government. If it becomes necessary, since the people want a government, they don’t want another election in two months, they will accept the reality. I don’t think these broad statements are true for all time. Maybe this election it may be true. But not for all time. How can I predict what will happen 20 years later?

Do you foresee the possibility of coalition government in Tamil Nadu in the near future?

See, as long as there are two major parties, the chances of a coalition government are low. It is only when a third party becomes nearly equal to the first two parties, three strong parties, then there is a possibility of a coalition election. I am talking normative, as a rule, not with particular reference to Tamil Nadu. Maharashtra for example, there were four parties and four parties. So necessarily Mr. Devendra Fadnavis has to have a coalition. But here at the moment, there are only two dominant parties and the Congress is the third, but a little behind.

The Opposition’s main accusation against the DMK government is that law and order has deteriorated, women safety is a big concern, and availability of drugs is on the rise. Your views…

This has some element of truth. But this is a nationwide problem. I read the North Indian papers in Delhi everyday. Two pages are only about crime, burglary, sexual violence, road rage. The drug problem, the sexual violence, gender violence, is all over India. If you talk about it in general terms, it will appear that Tamil Nadu is the worst. That’s not correct. You have to take the NCRB data and you will have to see state by state. But that does not take away from the fact that whichever government is formed in Tamil Nadu must control the drug menace, must sensitise young men and boys that gender violence is the worst kind of violence and sensitise the police and train them to be more effective in controlling law and order. I have noticed in the CAPF the personnel are periodically withdrawn from duty and sent to the battalion headquarters for training and rest and recuperation. I intend to propose to the next government, I hope the DMK government, that the the police force must be withdrawn for one month in a year and sent to Battalion headquarters for rest, recuperation and training. Which means you will have to recruit one twelfth more police force, but that can be recruited.

How would you rate Mr. Stalin’s administration?

You see, you go by economic metrics, we are the fastest growing state in India. Number two, there is a bumper crop, which means they have paid attention to agriculture, irrigation, water, fertiliser, electricity. It has paid dividends. Third, we have massive outside external investment, FDI as well as from other states. See, I have got renovation and repair work in my house. Every worker is from UP, Bihar and Jharkhand. Why are Tamil young men not coming for construction work? I am not saying there is no unemployment but they have better paying jobs and jobs which give them more dignity. I think our education system has improved considerably.

Election manifestos are increasingly being dominated by promises of welfare benefits and direct cash transfer. As a former Union Finance Minister, don’t you think these are fiscally imprudent measures against the backdrop of increasing debt burden?

See, the debt burden is exaggerated. The debt burden is relevant only if you can’t finance the debt. The national debt increases year after year. But if the GDP and the GSDP increases and the revenues increase, your state’s own income increases and you are able to finance the debt, that’s okay. You must look at the fiscal deficit as a proportion of the GSDP. Tamil Nadu compares favourably with every other state.

On freebies, I have a philosophy. I believe in universal basic income (UBI). You can’t tell the poor people you wait for the next generation, your grandchildren will be better. Now you can decide what proportion of the state’s income must be given as UBI. It can be divided into different heads. Free bus travel has brought large externalities. Economists will know that a social benefit, which has economic externalities is good. The free breakfast scheme too is part of UBI. I think it’s manageable, it’s viable.

They say the real hero in an election is the cash delivered at the doorsteps of voters…

See, I have contested and won seven elections. I have never given money to voters. In fact, in the last parliamentary election no party in Sivaganga gave money to the voters. Giving money to the voters doesn’t decide an election. If a voter takes money, he takes it from both sides and then he will exercise his choice. It is like the old saying, “A judge took bribe from both sides and decided fairly.” But money must be given to get the party workers moving.

But senior politicians say “we don’t want to contest in elections because it has become very expensive”….

That is true. The elections have become expensive. The unrealistic target of ceilings fixed by the Election Commission of India is a joke. EC knows nobody adheres to the ceiling. But then there are ways in which we can legally circumvent the ceiling. If the party spends, there is no ceiling.

What’s your prediction for the Tamil Nadu election?

It will be a close election because the parties are arrayed in two strong fronts. The entry of the BJP under Mr. Modi (Prime Minister) and Mr. Shah (Home Minister) has injected a certain element which I can’t describe openly. But they will use every device, every tactic to win the election, to influence the election and to win it if possible. It will be a close battle. I have warned my party men. It will be close battle, but we will win. It will not be a completely one sided battle like the 2024 parliamentary action. The AIADMK lost the deposit in seven seats. That’s unheard of for the AIADMK.

The AIADMK workers realise they have got a mountain to climb. The DMK workers realise they are on the top of the mountain and they should not allow them to be dragged down. The Congress is confident where it is strong. But I think the ultimate result will be that the DMK alliance will have a comfortable majority and the DMK will form the government.

Last updated:March 27, 2026, 16:46 IST

What made the black night frog difficult to identify was its similarity to existing species. This discovery was not limited to academic work only but was done by those working on the ground.

On a rain-filled evening near Castle Rock in Karnataka’s Uttara Kannada district, a slow, repetitive sound echoes in the forest. It blends into the background, indistinguishable from the countless other calls that define the Western Ghats.

No one paid attention to this for years. It was so familiar, yet unmistakable. Turns out it was actually pretty unique.

A new species of frog has now been named. Nyctibatrachus kali or black night frog has been formally described from the Central Western Ghats. The discovery adds to a region already recognized as one of the world’s most important biodiversity hotspots, and reminds that even well-studied ecosystems retain secrets.

A search in time of fall

Globally, more than 9,000 species of amphibians are known today. India has 474 of them, representing about 5.3% of the world’s amphibian diversity. Yet, nearly two out of every five amphibian species are at risk of extinction due to habitat loss, climate change, and disease.

In this background, discoveries like the black night frog have deep significance. Over the past 25 years, India has documented 256 new amphibian species, an average rate of about 10 per year. Each new species contributes to the understanding of the country’s ecological history and biodiversity.

A sound in the rain that gave birth to a new species in Karnataka

One day, during heavy rains in the forests of Uttara Kannada, CR Naik, Deputy Range Forest Officer (DRFO), Ankola Range, heard something that made him stop.

He recalls, “While riding my bike in heavy rain, I heard a familiar ‘talk’ sound. Out of curiosity, I turned back and waited. After some time, another sound was repeated.” “I happily went out in the pouring rain, waited, recorded its sound on my mobile and sent it to Professor Gururaja.”

At first the sound did not seem unusual. “After hearing the sound, he said, ‘It sounds like a croaking frog,'” says Naik. But what happened next would change this perception. “In the following days, when the team discovered through molecular analysis and acoustics that it was a new frog, I was surprised, delighted, and proud.”

when the familiar becomes new

To the research team, the frog initially appeared to be something already known.

“Initially when CR Naik sent me the recording of the frog based on my previous observations of Kathleen’s Night Frog, I thought it was the Kumbhara Night Frog,” says Professor Gururaja KV, Professor at Srishti Manipal Institute of Art, Design and Technology, MAHE. “However, acoustic and molecular analysis revealed that it is a new species of frog.”

That moment of improvement from hypothesis to evidence defined the discovery.

Professor Gururaja points out the unusual mix of field staff and researchers behind the discovery, saying, “It is interesting to note that citizen scientists are part of this discovery, and we have a long way to go in this direction because conservation requires collaboration of people, practice and policy.”

A species hidden in plain sight

Identifying the black night frog was difficult because of how similar it was to existing species.

“The new species Nyctibatrachus kali is morphologically cryptic but differs from all the existing 34 species in advertisement calls and genetics,” explains Arvind CK, a PhD scholar at Manipal Institute of Technology, Bengaluru.

He added, “This sound is similar to the sound of wood being chopped and is similar in sound to the sounds of other species in the N. sanctipalustris group.”

The difference is in the details. “Similar to other species in the group, N. kali also has two distinct advertisement calls, where one is a low-frequency call and the other is a high-frequency call. Both types of calls are different from other species,” he says.

A discovery built on field observation

This discovery was not limited to academic work only. It was shaped by those who worked the land.

Ramesh Budiger, Beat Forester, Yellapur Range, recalls early observations: “Learning about the sounds of frogs, their reproduction and their habitat, Professor Gururaja’s study team came to Castle Rock in 2021. On that occasion, when they were taken to a new place, they heard a frog croaking. They asked us to observe it, saying it could be the Kumbhara Night Frog.”

Over time, something bigger grew from that observation. “Later, we saw them at four places, and learned about their reproduction, we were extremely happy and proud. I was surprised when I learned that it was a ‘new frog’,” he says.

a species that is endemic to its habitat

The black night frog has so far been documented only in the Castle Rock area and is closely associated with the stream ecosystem.

“This species is currently documented only from Castle Rock, and is a stream-dwelling species,” says Arvind CK. “The conservation of N. kali and its habitat is very important and fragile. Stream networks and other stream-associated species are key here.”

more than a discovery

The finding also highlights the role of cooperation in conservation.

“I am extremely happy to note that the frontline staff of our forest department have played a very important role in the identification of this new species,” says Kumar Pushkar, IFS, Principal Chief Conservator of Forests (Wildlife).

listen carefully

At its core, the discovery of Nyctibatrachus kali Started with a moment of meditation. As Naik says, “We hope and want that we develop interest and inclination to listen to the forest as well as to see it.”

In a place as rich as the Western Ghats, sometimes that’s all it takes – to stop, listen and realize that what seems familiar may actually be completely new.