Historical Window
#Binance is a cryptocurrency exchange that has become a dominant player in the digital asset market within a few years. It was founded in July 2017 by Chinese-Canadian entrepreneur Changpeng Zhao (known as "CZ") and a team of developers who previously worked on exchange systems and crypto technologies. The company's original headquarters was in China, but due to strict cryptocurrency regulations, it soon moved its operations abroad – among others to Malta, Singapore, or the Cayman Islands.
Binance launched through a successful Initial Coin Offering (ICO), during which it raised approximately 15 million USD. As part of this campaign, its own token $BNB (Binance Coin) was issued, which originally served as a way to obtain discounts on trading fees on the platform.
Thanks to low fees, a wide range of cryptocurrencies, and rapid growth, Binance gained immense popularity. Just a few months after its launch, it became one of the largest cryptocurrency exchanges by trading volume ✅✅✅
Since then, Binance has expanded its services to include derivatives, staking, NFT marketplace, its own blockchain (BNB Chain), and even #BinanceAcademy for education in the field of cryptocurrencies. The company also launched Binance Smart Chain (BSC), which is a blockchain that supports smart contracts and decentralized applications (DeFi).
However, Binance has also faced a number of regulatory challenges. In recent years, it has come under scrutiny from authorities in the USA, the UK, the Netherlands, and other countries. In 2023, CZ stepped down as CEO after the company reached a settlement with US authorities over allegations of violating anti-money laundering laws. Binance then paid a fine of over 4 billion dollars.
Despite these issues, Binance remains one of the key players in the crypto world and continues to develop its services and community 🔥🔥🔥
