The cryptocurrency exchange Binance reached 280 million registered users by its eighth anniversary. During its operation, the total trading volume on the platform's spot and derivatives markets exceeded $125 trillion.
As of June 2025, the exchange holds over 41% of the cryptocurrency spot market. Approximately 217 million trades are executed on the platform daily, with a total volume exceeding $91 billion.
“Eight years ago, we set the goal of making cryptocurrencies the main way to enhance financial freedom. Today, 280 million people have made them a part of their lives, and Binance has become their trusted guide,” said the exchange's CEO Richard Teng.
The Binance Pay payment service processed 300 million transactions worth $230 billion. From 2022 to 2024, the service helped users save $1.75 billion in transfer fees.
Since December 2022, Binance's risk management systems have prevented fraudulent transactions worth $10 billion. The exchange has helped recover or freeze stolen funds totaling over $215 million.
The Binance team has processed around 241,000 requests from law enforcement and conducted over 400 training sessions on combating financial crimes. Nearly 22% of the exchange's employees work in compliance.
Binance was founded in 2017 by Changpeng Zhao (CZ) and Yi He. In 2018, the platform established the SAFU fund to protect users' funds. From 2019 to 2021, Binance launched a P2P marketplace, as well as the Binance Earn and Binance Pay services. In 2022-2023, the exchange implemented a Proof-of-Reserves system and introduced its own Web3 wallet.