A few years ago, the exchange doubled its base of users, reaching 100 million.
Binance CEO Richard Teng was delighted and urged for more extensive partnerships.
Binance, a cryptocurrency exchange, revealed that its user base has reached 200 million people throughout the world. With the price of Bitcoin and altcoins reaching new highs, web3 use has been soaring, and this milestone follows on the heels of that. Despite regulatory challenges in some locations, Binance continues to dominate the cryptocurrency sector.
The 200 million users on Binance have contributed to the platform’s meteoric rise to the position of top crypto exchange in terms of trading volume. A few years ago, the exchange doubled its base of users, reaching 100 million, as cryptocurrencies were adopted globally. Binance CEO Richard Teng was delighted and urged for more extensive partnerships.
Share of Difficulties
With the addition of fresh listings and developments, Binance has grown its base and expanded its market throughout the years. The exchange has partnered with similar businesses to expand to additional countries. To further increase web3 acceptance, cryptocurrency users praise the exchange for funding businesses and blockchain education. Binance has encountered several regulatory hurdles in various countries, thus the trip so far has not been without its share of difficulties.
The exchange was subject to a lawsuit by a US regulator for providing trading services to securities that were not registered. In addition to previous CEO Changpeng Zhao stepping down, Binance struck a $4.3 billion settlement with the DOJ last year.
Even naysayers have begun to invest in blockchain and crypto assets, contributing to their meteoric rise in popularity. More people are using Bitcoin now because of its recent price surge and other factors. The U.S SEC approved spot Bitcoin ETFs this year, which allowed conventional institutions to participate in the cryptocurrency.
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