[Binance U.S. Stock Business Interest Chain Disclosure: Holds Minority Stake in Alpaca, Takes 50% of PFOF and 65% of Lending Profits] BlockBeats News, June 3: According to Binance's official disclosure, Alpaca not only serves as the clearing broker for its U.S. stock business, but Binance also holds a minority stake in Alpaca. Under the agreement, Binance will receive 50% of Alpaca's Payment for Order Flow (PFOF) fees and 65% of the remaining profits from user stock lending, after deducting user interest. Binance's recently launched U.S. stock business adopts a "Introducing Broker + Clearing Broker" model, where Nest Trading is responsible for order routing, and Alpaca handles trade execution, clearing, settlement, and asset custody. Alpaca Securities LLC is a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and is also a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). It holds approximately 94% of the tokenized U.S. stocks and ETFs market share.