Binance Exchange 🥰✌️

🚀 Founding and Early Growth (2017)

July 2017: Binance was founded by Changpeng Zhao (aka CZ) in China.

Launched following a successful ICO (Initial Coin Offering) that raised $15 million.

The Binance Coin (BNB) token was introduced during this ICO to provide trading fee discounts and utility on the platform.

📈 Within six months, Binance became the world’s largest cryptocurrency exchange by trading volume.

🌍 Global Expansion and Regulatory Pressure (2018–2020)

Binance began moving operations out of China after a crypto crackdown.

Opened offices or entities in Malta, Singapore, Jersey, Uganda, and other jurisdictions.

Launched Binance Labs (venture capital arm), Binance Launchpad (IEOs), and Binance Academy (educational content).

Introduced Binance DEX (decentralized exchange) in 2019.

Created its own blockchain, Binance Chain, and later Binance Smart Chain (BSC) in 2020.

💰 Dominance and Diversification (2020–2022)

Binance Smart Chain quickly became popular for DeFi projects due to low fees and fast transactions.

BNB rose in value dramatically during the 2021 bull run.

Expanded into:

NFTs

Derivatives

Staking

Payment services (Binance Pay)

Acquired CoinMarketCap in 2020

🧭 Recent Developments (2024–2025)

Binance continues to operate in a more compliance-focused environment.

Increasing efforts to obtain proper licenses in Europe, the Middle East, and Asia.

Binance launched new products in AI, DeFi, and custodial services.

CZ remains influential in the crypto world despite stepping back from daily operations.

📌 Key Takeaways

Aspect Detail

Founded July 2017 by Changpeng Zhao

HQ No official HQ; “global company” model

Native Token BNB (Binance Coin)

Major Products Binance Exchange, BNB Chain, NFT Marketplace, Binance Pay

CEO Richard Teng