Binance, the global crypto giant leading in trading volume, proudly announces a landmark achievement: surpassing 200 million registered users. The news, unveiled on June 8, marks a significant milestone nearly seven years since its inception. With this feat, Binance now commands about 36% of the estimated 562 million global cryptocurrency users, according to Triple-A research.
CEO Richard Teng, attributing the success to the supportive community, sets sights on a billion-user milestone. Teng remarked:
This achievement is not just about Binance; it reflects the fast-growing crypto adoption which is empowering countless lives, and we’re at the forefront of this transformative technology. Yet, our work is far from done. The road to reaching a billion users is both a challenge and an opportunity we eagerly embrace
In comparison, if Binance were a nation, it would rank as the eighth most populous globally, surpassing countries like Bangladesh, Russia, and Mexico.
This remarkable milestone follows closely on the heels of Binance’s surpassing $100 billion in assets under custody, underscoring its growing prominence in the digital asset landscape.
In tandem with its user base milestone, Binance has been recognized as the liquidity leader among 43 centralized exchanges. Kaiko’s report highlighted Binance’s dominance in trading volume, volume contribution, and market depth, positioning it ahead of rivals like Bybit, Coinbase, and Upbit.
However, amidst these triumphs, Binance faces legal hurdles worldwide. Last November, the exchange agreed to a record $4.3 billion fine in the US for multiple financial law violations. Founder and former CEO Changpeng Zhao stepped down as part of the settlement and is currently serving a four-month sentence in California. In Europe, Binance has exited several markets and withdrawn licensing applications due to regulatory challenges. Additionally, the exchange faces legal issues in Nigeria, with executive Tigran Gambaryan currently imprisoned over money laundering and tax evasion charges.
Binance’s journey to a billion users continues, amidst regulatory headwinds and global expansion efforts.
