Binance CEO Announced: The Stock Exchange Has Begun to Be Officially Inspected

Binance, the world's largest cryptocurrency exchange, has officially begun to be examined by audit firms.

Binance Holdings Ltd. CEO Richard Teng stated that 2024 is a turning point for the crypto industry. He attributed this to increased regulatory clarity, greater mainstream adoption and the launch of Bitcoin-linked exchange-traded funds.

Huge increase in the number of Binance users

Binance increased client assets by $42 billion as crypto prices rebounded. The number of registered users of the company reached 200 million.

The company spokesperson added that monthly active users increased by 12.5% ​​from February to May. “The momentum is very strong and that is a very encouraging sign for us,” Teng said. He stated that both institutional and individual investors have shown interest in the platform.

According to DefiLlama data, a total of $114.6 billion worth of assets are held on the Binance exchange.

Officially started to be inspected

Teng replaced Changpeng Zhao as Binance CEO following the US settlement worth more than $4 billion. According to Bloomberg data, Zhao is still Binance's largest shareholder, with a fortune of $41.9 billion.

According to Teng's statement, Sullivan & Cromwell and Forensic Risk Alliance, appointed to supervise Binance, have officially started their work. Binance CEO added that they have not yet decided where the company's headquarters will be, but they are considering a few countries.