Binance's history dates back to June 24, 2017, when it conducted its initial coin offering (ICO) for Binance Coin (BNB), raising $15 million. The exchange went live 11 days later, initially supporting only a few cryptocurrencies like BNB, BTC, NEO, LTC, and ETH. Here's a brief overview ¹:
- *Founding*: Binance was founded by Changpeng Zhao (CZ), a Canadian-based cryptocurrency entrepreneur.
- *Early Growth*: Within 45 days of its launch, Binance had accumulated over 120,000 users, with an average growth rate of 5,000 new registered users per day.
- *Expansion*: Binance expanded aggressively, relocating to Japan and later Malta due to regulatory issues in China. The company established partnerships with various organizations and launched new initiatives, such as Binance Jersey and Binance Uganda.
Some notable developments in Binance's history include ¹ ²:
- *Security Measures*: Binance has implemented robust security measures, including a Secure Asset Fund for Users (SAFU) to protect user assets.
- *Innovative Products*: Binance offers various products and services, such as:
- *Spot Trading*: Buy and sell cryptocurrencies on the spot market.
- *Margin Trading*: Trade with leverage to increase potential profits.
- *Futures Trading*: Trade contracts settled in USDT, USDC, or cryptocurrency.
- *Earn*: Earn passive income on cryptocurrencies through Simple Earn and Advanced Earn.
- *Academy*: Learn about blockchain and cryptocurrency through educational resources.
Binance has grown to become one of the largest and most influential cryptocurrency exchanges globally, with over 1.2 billion trades per day and a presence in various regions ¹.#BinanceHODLerHYPER $BTC
