Did you know?
Binance was founded in July 2017 by Changpeng Zhao and his team, after successfully conducting an initial coin offering (ICO) that raised approximately 15 million dollars to launch its cryptocurrency, Binance Coin (BNB). Since its inception, the platform has experienced explosive growth, quickly becoming one of the largest cryptocurrency exchanges in the world in terms of trading volume.
Throughout 2018 and 2019, Binance expanded its global presence by establishing offices in several countries, including Malta, where it took advantage of a favorable regulatory environment. During this time, it also launched Binance Academy, an educational platform to teach about cryptocurrencies and blockchain.
However, as it grew, it also faced regulatory challenges. In 2021, several countries began investigating its operations, leading to restrictions in some markets. That same year, Binance suffered a hack that resulted in the loss of over 40 million dollars in Bitcoin, prompting the platform to implement stricter security measures.
Since then, Binance has continued to innovate, launching Binance Smart Chain in 2020 to enable the creation of smart contracts and decentralized applications, as well as a non-fungible token (NFT) marketplace in 2021. As the regulatory environment evolves, Binance continues to adapt and seeks to establish stronger relationships with regulators while introducing new products and services to attract more users in a constantly changing market.
