Binance, the world's largest cryptocurrency exchange by trading volume, has over 240 million users from various countries.
This year, the platform gained 70 million new users. In 2023, there were only 170 million. If Binance were a country, it would rank sixth in the world by population, surpassing Brazil, Nigeria, and Russia.
Binance CEO Richard Teng explained the significant increase in the exchange's user base due to the approval of spot Bitcoin ETFs in the US, Brazil, and Australia.
He stated that Binance currently holds user assets worth $130 billion. The platform has also set an industry record, becoming the first centralized exchange whose total trading volume in spot assets and derivatives exceeded $100 trillion.
These figures highlight not only the resilience of Binance and cryptocurrencies but also the level of maturity and recognition of the exchange, unimaginable just a year ago, Teng said.
In addition to market trends, the CEO linked Binance's success to compliance with regulatory requirements. In recent years, the exchange has received over 20 regulatory approvals worldwide, including in key markets like India and Argentina.
Binance has also invested significantly in control systems and partnerships with government agencies to enhance security. In 2024 alone, the company responded to more than 55,000 law enforcement requests and organized educational programs for investigators from over 80 countries.