**Binance** is one of the world's largest **cryptocurrency exchanges**, founded in **2017** by **Changpeng Zhao (CZ)**.
### **Key Features:**
- **Trading**: Supports **spot**, **futures**, and **margin trading** for hundreds of cryptocurrencies.
- **Binance Coin (BNB)**: Its native token, used for trading fee discounts and ecosystem benefits.
- **Low Fees**: Competitive trading fees (0.1% spot trading fee, lower with BNB).
- **Global Reach**: Offers services in multiple countries but faces regulatory restrictions in some regions (e.g., the US uses **Binance.US**).
- **Additional Services**:
- **Binance Smart Chain (BSC)** – A blockchain for DeFi and smart contracts.
- **Binance Earn** – Staking, lending, and yield farming.
- **Binance Pay** – Crypto payments.
### **Controversies:**
- Faced **regulatory scrutiny** (e.g., US DOJ settlement in 2023, $4.3B fine).
- Accusations of **lax KYC/AML** policies.
Despite challenges, Binance remains a dominant player in crypto trading.
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