BTCChina was once the first domestic trading platform, accounting for 80% of global trading volume at its peak. It suspended its domestic business in 2017 and sold its mining pool and US dollar trading the following year. After that, its services were discontinued and users switched to other platforms.

In 2019, Yang Linke completely acquired Bitcoin China, transforming it into a blockchain technology service company and gradually withdrawing from the cryptocurrency market. During this period, Binance quickly rose to become one of the major exchanges.

Binance was founded by Zhao Changpeng in 2017, and launched its web and mobile applications in Shanghai in the same year. With its keen insight into industry dynamics, Binance seized the opportunity to become a leader in the market reshuffle after the "94" incident.

2017 was a challenging year for Binance. Even after surviving the "94" incident, Binance still faced problems with low visibility and low trading volume, and was once on the verge of breaking the IPO price.

He Yi joined Binance in 2017 and served as CMO, co-founder and director. Together with Zhao Changpeng and Xu Mingxing, they are known as the "iron triangle of the cryptocurrency circle". Their cooperation has enabled Binance to grow rapidly from its start-up stage.

Zhao Changpeng has a firm belief and ambition in building a "decentralized" exchange. Although this concept is still controversial in the industry, Binance has always won the trust of traders with its user-centric attitude.

On January 3, 2020, Binance CEO Changpeng Zhao published an open letter outlining the company's progress in user services, security, fund raising, and project incubation over the past year. He mentioned that 2020 will be the year of blockchain application realization, and plans to fully open source Binance Chain and decentralized trading platforms. Last year, Binance supported 21 projects through incubators, invested in 14, and fully acquired at least 9 projects; at the same time, Binance X sponsored 59 cryptocurrency developers. Changpeng Zhao also highlighted Binance DEX as the fastest on-chain trading engine, and the Tendermint BFT consensus protocol adopted by Binance Chain, with a block time of less than 1 second. He also resolved previous open source disputes and expected to open Binance Chain and Binance DEX platforms in 2020.

The cryptocurrency market is constantly evolving and contains many opportunities. Although it is impossible to predict the future direction of Binance or whether new trading platforms will emerge, it is certain that the future development of the industry will be more diversified.