#bnb创历史新高 , significant experiences in Binance's history
$BNB (Binance Coin) recently exceeded $740 in price, with a market cap reaching $106.85 billion, setting a new all-time high, and increasing by 14.9% in the last 24 hours.
Since its establishment in 2017, Binance has gone through multiple significant events and challenges that have shaped its position in the cryptocurrency space. Here are some key experiences and setbacks in Binance's history:
July 2017: Establishment and ICO
Binance successfully raised approximately $15 million through its initial coin offering (ICO) and officially launched its cryptocurrency trading platform.
September 2017: Responding to Chinese Regulatory Policies
In the face of the Chinese government's ban on cryptocurrency trading and ICOs, Binance quickly migrated its servers and business operations overseas to ensure the platform's continued operation.
May 2019: Security Incident and User Protection
Binance suffered a hacker attack, losing approximately 7,000 bitcoins (worth about $40 million at the time). Following the incident, Binance CEO Changpeng Zhao announced the establishment of a Secure Asset Fund for Users (SAFU) to protect users' funds in extreme situations.
2019: Launch of Binance Chain and Decentralized Exchange
Binance launched its self-developed blockchain—Binance Chain—and went live with a decentralized exchange (Binance DEX), expanding its ecosystem.
2022: Compliance and Global Expansion
Binance obtained operational licenses or registrations in multiple countries and regions, including France, Italy, and Spain, further solidifying its global market position.
November 2022: Industry Recovery Plan
After experiencing multiple significant events in the cryptocurrency market, Binance launched an industry recovery plan worth $1 billion aimed at supporting affected projects and enterprises, rebuilding industry confidence.
November 2023: Founder Resignation and Legal Challenges
Binance founder and CEO Changpeng Zhao resigned from his position after reaching a plea agreement with the U.S. Department of Justice over allegations of market manipulation and money laundering. This incident had a certain impact on Binance's reputation and market position, highlighting the regulatory pressure faced by the cryptocurrency industry.
On November 21, 2023, reached a settlement agreement with the U.S. Department of Justice, admitting to violations of anti-money laundering laws, unauthorized fund transfers, and sanctions violations, agreeing to pay a fine of $4.3 billion.
January 2024: Decline in BUSD Market Cap
The market cap of Binance's stablecoin BUSD has significantly dropped, with supply decreasing by 95%, causing a major impact on the platform. At the same time, BNB network activity decreased by 66.4%, and network revenue fell by 13.7% year-on-year, indicating reduced user engagement.
These experiences showcase the challenges and responses faced by Binance in the rapidly evolving cryptocurrency field, reflecting its ongoing efforts in innovation, compliance, and user protection.
