Binance CEO Richard Teng highlighted the exchange's significant achievements during an Ask Me Anything (AMA) session on Twitter Spaces celebrating Binance’s 7th anniversary. Binance now holds 18 licenses globally, making it the most licensed cryptocurrency exchange in the world. Additionally, the platform maintains a $1 billion reserve fund dedicated to user protection.

Compliance Milestones

Richard Teng provided insights into Binance's ongoing commitment to regulatory compliance. "In 2022, we invested $152 million in compliance efforts. This number grew to $230 million in 2023, and in 2024, our investment in compliance has increased exponentially," Teng stated. He emphasized that Binance distinguishes itself by willingly submitting to regulatory authorities and working closely with them to ensure adherence to all relevant laws and regulations.

New Market Focus

When asked about the next milestone and the new markets attracting Binance’s attention, Teng highlighted the exchange's efforts to expand into emerging markets. "We are working with partners to bring more participants into the cryptocurrency ecosystem. We believe we are still very early in the game. The more people we have in the game, the more investors we can attract, leading to better and broader adoption," he explained.