Binance is now 8 years old with a trading volume of 125 trillion USD and 280 million users.

Binance, the largest cryptocurrency exchange in the world by volume, has stated that it has processed over $125 trillion in digital assets since its launch in 2017. In the statement dated July 14, marking the eighth anniversary of the platform's establishment, Binance CEO Richard Teng emphasized the growth and important role of the exchange in shaping the cryptocurrency market. He stated that the exchange has processed an average of 217 million spot and futures transactions per day this year. In addition, this platform currently holds 41% of the global spot trading market share and proudly accounts for 95% of the decentralized wallet market share with integrated trading features. In addition to trading, Binance has expanded its operations into the fields of savings, payments, and financial access. Teng notes that Binance Earn has generated 50 billion dollars in profits for users since its launch, while Binance Pay has processed 230 billion dollars through 300 million transactions. From 2022 to 2024, this platform has also helped users save 1.75 billion dollars in remittance fees. He noted: "Each number reflects the number of people who have truly achieved financial freedom, attained financial independence, and overcome barriers to financial inclusion." The user base is growing. The CEO of Binance also pointed out that the number of users on this platform continues to grow rapidly. On X, Teng revealed that the number of registered VIP users surged by 116%, while the number of institutional customers increased by nearly 97% in 2024. The exchange recently launched new services such as Fund Accounts and Binance Wealth to meet the growing demands of these sophisticated users. Last week, the exchange introduced Institutional Loans, a product that offers leverage of up to 4x for verified corporate clients by aggregating balances across a maximum of ten sub-accounts. Meanwhile, the adoption of this platform in retail remains strong, thanks to the launch of several innovative products like Binance Alpha, Launchpool, and Pump. The interesting bonding curve mechanism. In this regard, Binance has gained nearly 80 million new individual users in the past year, bringing the total number of global users to 280 million. If it were a country, Binance would have the fourth largest population in the world, surpassing countries like Nigeria. Compliance efforts Teng emphasized that the company is heavily investing in global compliance efforts, with spending in this area expected to be more than 30% higher than last year. This is especially necessary as this platform has faced many legal challenges and regulatory scrutiny in various jurisdictions over the past years. The most notable action took place in 2023, resulting in a $4.3 billion fine for the US government and the resignation of founder Changpeng Zhao.