Binance CEO shares the exchange's achievements ahead of its seventh anniversary
On July 14, the Binance crypto exchange will turn seven years old. Ahead of the event, company CEO Richard Teng shared statistics and plans.
“By traditional standards, a seven-year-old company is a young, often still fledgling, startup. By crypto industry standards, being in the market for seven years, almost all the time holding a leading position, means surviving and thriving through several eras of perhaps the fastest growing trend in history, becoming a seasoned veteran,” he said.
Teng marked a challenging yet important year for Binance. A key achievement was surpassing the threshold of 200 million registered users worldwide.
The top manager added that the exchange currently supports 541 “carefully selected” digital assets and 2,632 trading pairs. The record number of requests per second reached 2.58 million.
Teng called adoption by TradFi one of the most important narratives of the crypto market in the current cycle. From January to June, the company saw a 36% increase in institutional registrations, he said.
In our seventh year, our already strong focus on compliance has become even stronger. […] we continued to attract top talent, improve our systems and technology, and pursue approvals in close collaboration with numerous authorities and regulators. We now have licenses in 18 jurisdictions, more than any other centralized crypto exchange,” said Binance CEO
Between June 2023 and May 2024, the trading platform's security teams processed about 62,800 law enforcement requests, bringing the total to 173,800, the platform's chief added.
Let us recall that on November 21, 2023, Teng took the position of CEO of Binance instead of the company’s founder, Changpeng Zhao, who left his post as part of a deal with the US Department of Justice. The platform agreed to pay $4.3 billion in fines.
Zhao is currently serving a four-month sentence in a federal prison in Lompoc, California, USA.
The new CEO promised to transform the cryptocurrency exchange and introduce a traditional corporate structure. The latter involves a board of directors, headquarters and financial transparency, he said
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