MILESTONE | Binance Becomes the First Centralized Crypto Exchange to Surpass $100 Trillion in Trading Volume

The Binance platform now serves over 240 million users globally

CryptoGuru··6 min read

Over the last year, the crypto industry has reached historic milestones. Bitcoin ETFs have gained approval in major markets such as the United States, Brazil, Hong Kong, and Australia, signaling broader acceptance of digital assets.

Within just a year, net inflows into BTC ETFs surpassed those of gold ETFs, a testament to the growing role of crypto in finance and its deeper integration with more traditional institutions and systems.

In the meantime, the pace and breadth of global retail adoption suggest that the coveted first billion of crypto users might be within reach sooner for Binance than dreamed.

In a press release shared by Binance, this wave of progress has been mirrored in Binance’s remarkable growth this past year [2024], driven by the vision of its excellent leadership team, dedication of thousands of Binancians scattered throughout every time zone, and ever-growing support and trust of its community.

Here are some stats about Binance over the last year:

  • The Binance platform now serves over 240 million users globally

  • Binance safeguards over $130 billion in user assets

  • In 2024, the rate of institutional onboarding at Binance has more than doubled compared to the previous year, demonstrating growing trust in its platform and services among professional investors.

  • In 2024, Binance has become the first centralized crypto exchange to surpass $100 trillion in combined all-time spot and derivatives trading volume.

  • Binance has welcomed 1600 new employees over the past year [since November 2023], with a particular focus on world-class compliance talent.


These numbers underscore not just the resilience of Binance and crypto but the level of maturity and acceptance unthinkable just a year ago.

 

According to Richard Teng, the CEO of Binance:

“Throughout dozens of meetings with regulators over the past year, I’ve sensed a noticeable shift in the way they talk about digital assets. Across many regions and continents, people with the power to shape the landscape of finance are becoming more curious and intentional about crypto.

Many are asking deep, well-informed questions, suggesting serious thinking about how the power of blockchain can be harnessed for social good and a sustainable future of digital finance. This growing curiosity hints at a welcome shift happening in regulators and policymakers’ perception of crypto, one that is fundamental to making it truly mainstream.”

 

The crypto industry has come a long way in this regard, with a noticeable shift toward regulatory engagement and collaboration. Binance is undoubtedly at the forefront of this evolution.

Today, Binance holds over 20 licenses and registrations worldwide, with recent approvals in key markets like India and Argentina. Over the past year, the exchange has continued to heavily invest in compliance, strengthening its processes and technology, strategically hiring world-class talent, and engaging with regulators and policymakers globally.

Championing collaborative security in the digital space, Binance has impactfully assisted law enforcement authorities in dozens of investigations, in addition to delivering more than 200 training sessions over the past two years to build crime fighters’ capacity to counter crypto-related threats more effectively.

Here are some stats in this regard:

  • Binance Law Enforcement Day, an online educational event held in April 2024, welcomed over 1,300 investigators representing agencies from over 80 countries in 2024 alone.
  • From January to mid-November 2024, Binance responded to more than 55,700 law enforcement requests, serving over 13,800 registered officers.

As reported by BitKE, since 2022, Binance has been conducting training workshops on how to deal with crypto crimes such as money laundering, ransomware, and attacks by nation-states across the world with the exception of Africa. . . . until now.

For the first time, Nils Andersen Röed and Jarek Jakubcek, who formerly worked as investigators at Europol, visited South Africa and Nigeria to train local regulators and authorities on the ever-evolving tricks of crypto criminals.

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Achieving this kind of growth requires time, effort, and resources, but the rewards are profound. Responsible growth is not dependent on market cycles – it is about building infrastructure, ensuring safety, and preparing for the mass adoption that will bring the first billion users into the crypto ecosystem.

While the industry has made progress, a universally shared commitment to transparency, compliance, and security is essential for sustaining this momentum. One recent estimate suggested that about a quarter of the largest 80 centralized crypto exchanges still lack any KYC requirements. We as an industry can and should do better, and Binance’s evolution provides a fine blueprint for its peers to follow.

By working together, all players can elevate the entire ecosystem, ensuring its long-term success and fostering greater trust.

 

Facing the Future

Looking ahead, the crypto industry is undoubtedly poised for even greater advancements. The momentum built over the past year, coupled with favorable tailwinds, positions the space for an even stronger 2025. Institutions are increasingly eager to explore crypto’s potential, with many taking their first steps into the space.

Crypto is also embedding itself into culture and lifestyle in new and exciting ways. Memecoins, for instance, have emerged as more than just speculative assets – they are a global cultural phenomenon, often serving as the first step into the crypto world for younger, internet-native users.

This recent integration is a testament to how digital assets are expanding their relevance beyond finance, touching various aspects of daily life. There will be many more integrations as digital assets go mainstream.

This is an exciting time for financial innovation and Binance is leading the way into the future with an unwavering focus on users.

 

According to Teng:

“On a personal note for this one-year anniversary, the part of the job that gives me the most pleasure and satisfaction is still the same as one year ago. Meeting with Binance users and fellow crypto enthusiasts in person wherever I go is always the best way to remind myself of what this movement is really about. Making lives better.

Together, we can ensure that crypto continues to transform lives and create opportunities for millions around the world.

Here’s to the second year of this new era being even more impactful and productive for Binance, the industry, and the global crypto community!”

 

 

 

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