Message from our CEO: In 2023, we embraced change without abandoning our commitment to users
Dear Binance Community, As 2023 comes to a close, I would like to share with you several of my thoughts, both as the new CEO of Binance and as one of the many Binancers who have worked hard throughout the year to improve financial freedom, because after all, it was only November that I took over as head of this fabulous organization. If I had to summarize my message in a single sentence, it would be this: As we enter the new year, the Binance community has great reason to look to the future with optimism and hope. In 2023, we are remained a strong company and the leader of the most dynamic sector in the world, but we also dared to embrace change and make it our strength. Most of our historic problems in the United States are now a thing of the past thanks to agreements reached with American regulators. Binance has the culture, talent, and expertise to become a structured, truly compliance- and user-focused organization ready to take the digital assets industry into its next era. Real Confidence The past few weeks have proven that this observation is not mere verbiage, and that our users have full confidence in us and our vision for the future. Following the announcement of resolutions reached with US authorities and the change in management at Binance, net capital inflows were excellent, while the number of new users continued to increase at a steady pace. At the end of December, we crossed the 170 million registration mark, which represents a 30% increase over last year. Actions speak louder than words, and your tangible support means a lot to us as we begin a new chapter in our history.Another remarkable fact is the particularly high increase in capital inflows from institutional investors. This is great news to me as it suggests that institutional confidence in Binance and the entire Web3 ecosystem is growing as we reach a turning point where institutional participation, combined with clear regulation, is essential to the adoption of digital assets by the general public. This year, we launched exciting innovations (for example, our innovative Tri-Party Banking Agreement) that deliver unparalleled value to this important category of customers, and more awaits them next year. Paving the way for Web3That doesn't change not: our most important commitment remains the one we have to our users. No change in leadership or corporate governance will shake our desire to create and deliver products that improve people's lives, which is inseparable from Binance's DNA. Responding to and anticipating user needs has led us to help create (and launch many of) some of the key trends that have shaped the world of digital assets in 2023. To meet the growing demand for safer and more accessible gateways to the world of Web3, we designed our own Web3 wallet, which was an immediate success with users. To keep up with the trend for a more engaging Web3 social experience, we reinvented Binance Square, which attracted even more active users and creators this year, and added social copy trading functionality. In 2023, Binance's leading crypto payment, trading and earning services saw significant growth, representing a gigantic step forward on the path to mass adoption of digital assets. The number of active Binance Pay users increased by 20% and Binance Earn helped 35% more people grow their cryptos. I invite you to read our freshly released year-end report for a comprehensive overview of all the numbers and indicators describing Binance's performance in 2023. Above all, we have prioritized, and will always prioritize, user security and of their funds. From cooperating with law enforcement around the world to combat criminal activity involving digital assets, to organizing informational campaigns for users, to maintaining our SAFU fund (worth of $1.2 billion at the end of the year) or cover even more assets with our proof of reserves system, the security and transparency of your funds is Binance's top priority.A look at the futureWe welcome this new year with happiness for several reasons. Binance begins a new chapter in its history with strong finances and the full confidence of our incredible, rapidly growing global community: our organization is built to last for decades. Of course, building the future of finance and improving financial freedom globally is a long and challenging journey, but we are prepared to make the thoughtful, iterative and incremental efforts that such tasks require. The unwavering support of the Binance community reassures us that no challenge is insurmountable for us. Throughout our journey, we will balance our commitment to three key groups. First of all, to our most important stakeholders: our users. Second, to regulatory authorities around the world, who will play an increasingly crucial role in the future of our industry and its ability to realize the enormous potential of blockchain and digital assets. Finally, we will devote significant resources to creating and maintaining partnerships within the sector. We are all in the same space, and it is easier to build a strong ecosystem by coordinating and cooperating. Finally, I want to thank the incredibly resilient, hardworking and motivated team at Binance for our accomplishments this year despite the setbacks that we have suffered. It is an honor and a true pleasure to lead such a unique and diverse group of talented and dedicated professionals, and I look forward to achieving even more great things alongside you in 2024 and for many years to come.Happy New Year! Richard Teng