Binance crypto exchange hits a new milestone of 200 million registered users globally.
Binance is a top-ranked crypto exchange which is known for its highly user-friendly crypto services. The services of this crypto exchange are available in the majority of the countries, where crypto trading is legal or allowed under a certain set of rules & laws.
On 8 June 2024, Richard Teng, the current CEO of the Binance crypto exchange, announced that Binance hit a very big milestone of 200 million registered users globally.
Teng thanked people for such a level of support and indirectly said that Binance currently aimed to bring a total of 1 billion crypto traders globally.
In 2022, Binance had around 130 million users. By 2023, this number increased by 40 million, reaching a total of 170 million. In just the first six months of 2024, Binance added another 30 million users. If this growth trend continues, the exchange could reach 300 million users by 2026.
At present, nearly there are 562 million people in the crypto sector, so we can say that currently, Binance is handling 36% of the global crypto traders via its highly responsive crypto service.
According to a March report by Cointelegraph, Binance reached $100 billion in user assets under custody. This equates to an average of about $500 in assets per user.
Binance leadership
In Nov 2023, Binance Co-founder Changpeng Zhao (CZ) stepped down from the CEO role of this crypto exchange, as a part of a settlement over the charges imposed by the US authorities.
CZ was not only a successful crypto entrepreneur but also a very influential person in this innovative sector but currently, he is spending his life in jail, in California.
Currently, Richard Teng is trying to fulfil CZ’s job perfectly and it will be interesting to see the future growth of this platform under the current leadership because CZ can’t take the CEO role again.
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