Binance reaches milestone never seen in the cryptocurrency space

Binance reaches milestone never seen in the cryptocurrency space

The cryptocurrency exchange is moving on as its founder spends time in prison

The world’s biggest cryptocurrency exchange by daily volume, Binance, announced on social media on June 8 that it now serves 200 million users worldwide. This is by far the most users among any global crypto exchange.

Binance celebrated the milestone across social media platforms by highlighting the 200 million mark on its mission towards onboarding a billion users, or one in every eight humans on the planet.

Binance announced In an X post, “Today, we celebrate 200 million – and it’s all because of YOU! Your support is the heartbeat of our journey to 1 billion users. Here’s to the stars of our story – you!”

Binance reached about 130 million users in 2022 and added another 40 million the following year. Thirty million more users were added in the first six months of 2024. If current company and industry trends continue, Binance could reach the 300 million user mark by 2026.

According to a study by Triple-A, the number of global cryptocurrency users reached 562 million this year, an increase of 142 million from 2023, with Binance customers making up about 35% of total worldwide users.

Binance’s announcement follows another recent crypto industry record for the exchange. In March, Binance surpassed $100 billion in total user assets held, which is an average of about $500 in assets per customer.

The exchange has also put most of its legal challenges behind it. Binance has apparently escaped the fallout after former CEO and founder Changpeng “CZ” Zhao was sentenced to four months in prison for fraud.

Reports are that CZ remains regretful of his conduct as he serves out his sentence in a California minimum security prison.

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