Binance has released its first official statement concerning the sudden and significant drop in the prices of the ACT token on their platform. The exchange confirmed that these declines have been triggered by a series of liquidations from futures markets, including Act I: The AI Prophecy (ACT) tokens. Binance is currently investigating the causes of the market drops, though no evidence suggests any users profited significantly from this event. 514,000 USDT in ACT tokens were sold on the Binance spot market by three high-volume VIP traders. 540,000 USDT more were then transferred to a non-VIP account before further selling took place. Binance has also revealed that the recent price drops are linked to adjustments in leverage ratios on certain contracts as they aim to prevent future volatility. Despite these adjustments, Binance is committed to monitoring market conditions and adjusting leverage ratios as needed to maintain a safe trading environment for all users. A reminder is issued to all users regarding responsible risk management when engaging in crypto trading.