๐ @Binance celebrates 7 years of operation today! Despite facing numerous challenges, including legal battles and regulatory scrutiny, the journey has been remarkable. Here's a brief overview:
- July 2017: #Binanceย is incorporated in China and quickly becomes the world's largest cryptocurrency exchange.
- March 2018: Announced plans to open an office in Malta following stricter regulations in Japan and China.
- May 2019: Binance suffers a major security breach, losing 7,000 #BTCย , but fully reimburses affected users.
- September 2019: Launch of @Binance US to comply with US regulations.
- September 2020: Binance Smart Chain (@BNBCHAIN ) launches, offering faster transactions and lower fees than #Ethereum.
- March 2023: SEC and CFTC sue Binance and @CZ for multiple violations.
- November 2023: CZ steps down as CEO amid a $4.3B settlement with the DOJ. Richard Teng, former head of regional markets, takes over.
- April 30, 2024: #CZ sentenced to 4 months in prison for violating U.S. money laundering laws.
Even after facing these many challenges, Binance continues to grow and remains the biggest exchange in the crypto space available today. ๐
Hope to see Binance growing and shining under @Richard Teng leadership!