#2024withBinance

In 2024, Binance, the world's largest cryptocurrency exchange, underwent significant developments to enhance its services and expand its global presence. Key highlights include:

Strategic Partnerships and Product Launches

Circle Collaboration: In December 2024, Binance partnered with Circle to promote the adoption of the USDC stablecoin. This alliance aims to increase USDC's usage across multiple blockchain networks and payment platforms, enhancing liquidity and accessibility for users.

SOLUSDT Options: On November 12, 2024, Binance introduced SOLUSDT Daily and Weekly Options, providing traders with more instruments to manage their positions and capitalize on market movements.

Regulatory Compliance and Organizational Changes

Compliance Investments: In 2023, Binance increased its compliance spending by 35% to $213 million, focusing on expanding its compliance team and integrating artificial intelligence to enhance efficiency. This initiative followed a $4.3 billion fine for violating U.S. anti-money-laundering laws and sanctions.

Leadership Transition: Co-founder Changpeng Zhao resigned as CEO after the compliance settlement, with Richard Teng, a former Abu Dhabi regulator, assuming the role. Under Teng's leadership, Binance aims to strengthen its regulatory standing and global operations.