Interpretation of CoinDesk's '2025 Benchmark Assessment Report on Digital Asset Exchanges' - Binance

As the cryptocurrency market matures, compliance and regulation are constantly strengthening, and users are increasingly inclined to choose trading platforms with security, transparency, and market depth. According to the report released by CoinDesk in April 2025 titled 'Global Standards for Assessing Risks Related to Digital Asset Exchanges', Binance ranks at the forefront of various assessment indicators.

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In this report, Binance scored 90.11 in spot trading and 90.8 in derivatives trading, receiving AA ratings in both areas and ranking first. This demonstrates that Binance leads among major trading platforms in terms of trading depth, liquidity, and technical execution.

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Despite being penalized in ratings due to negative events during the assessment period, Binance ultimately maintained an AA rating. Binance (90.1) ranks first, followed by Coinbase (89.8), Bitstamp (88.4), and Kraken (84.5); this indicates that Binance has a solid compliance foundation and risk management mechanism, allowing it to withstand regulatory risks.

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The level of security and information disclosure demonstrated by Binance in this assessment includes: 1. Dual security certifications of ISO and SOC; 2. Providing audited proof of reserves; 3. Supporting third-party custody and over-the-counter settlement (OES) mechanisms.

These practices highlight Binance's commitment to user fund security and platform transparency following the 'FTX crisis'.

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According to the report data, Binance's spot trading volume accounts for 26.7% of the global exchange market, nearly three times that of the second place (Cryptocom, 7.2%), reflecting Binance's absolute advantages in trading liquidity, matching efficiency, and platform trust.

In the fiercely competitive centralized exchange arena, data reports based on independent assessments help investors gain a more comprehensive understanding of the relative risk levels and operational quality of platforms, providing important data references for the healthy development of the industry.