Fun

Binance reaches 200M users with $100B in assets under custody

News Feed - 2024-06-09 06:06:52

Tristan GreeneJun 08, 2024Binance reaches 200M users with $100B in assets under custodyThe 200 million user mark represents over a third of all cryptocurrency holders worldwide.4809 Total views27 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksBinance, the largest cryptocurrency exchange in the world by daily volume, announced on June 8 it had reached 200 million global users. 


No other exchange can boast nearly as many users. However, these figures are self-reported.


In true celebratory fashion, Binance marked the occasion across its social media platforms by framing the 200 million user mark as a milestone on the company’s quest to onboard a billion, or one in every eight people on Earth.Source: Binance


In an X post, Binance said:“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!”


As recently as 2022, Binance only had approximately 130 million users. In 2023, the exchange added 40 million users, bringing its total count to 170 million. Six months into 2024, it’s already added at least 30 million more. This puts Binance on pace to reach 300 million users by 2026, assuming trends remain the same for both the company and the industry.


Related:Can Bitcoin close above $70K amid a strong labor market?


The global cryptocurrency consumer installation base reached 562 million people in 2024, up 142 million over 2023’s 420 million users, according to research from Triple-A. These numbers indicate that Binance users account for approximately 36% of the global cryptocurrency user base.


Binance’s 200 million user milestone comes on the heels of another cryptocurrency industry record for the company. As Cointelegraph reported in March, Binance reached a total of $100 billion in user assets under custody. That averages out to about $500 worth of assets in custody per user.


The company’s legal woes are also largely in the rearview. With founder and former CEO Changpeng “CZ” Zhao currently serving a four-month sentence on fraud charges, it appears as though Binance has emerged relatively unscathed.


CZ, for his part, is reportedly apologetic for his actions and dutifully serving his time in a minimum-security facility in California.# Business# Changpeng Zhao# Cryptocurrency Exchange# BinanceAdd reaction

News Feed

Arijit Sarkar7 hours agoIndian state governments spur blockchain adoption in public administrationNumerous initiatives by local and state governments in India — from data management systems to verifiable certificate is
William Suberg2 hours agoBitcoin ‘short squeeze’ sends BTC price to $35.9K as OI stays elevatedMore than $15 billion in Bitcoin open interest reaches a predictable conclusion as shorts get squeezed and BTC price acti
Jesse Coghlan1 hour agoMarathon Digital Q2 results miss revenue and earnings forecastsDespite the earnings miss, Marathon"s CEO said it mined a record 2,926 Bitcoin over the second quarter of 2023.379 Total views1 Total
IRS Launches ‘Operation Hidden Treasure’ to Target Unreported Crypto Income
IRS Launches "Operation Hidden Treasure" to Target Unreported Crypto Income The U.S. Internal Revenue Service (IRS) has reportedly launched an operation to targe
Chainlink Cross-Border Play Expands To Hong Kong–Australia Money Movement
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack
Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland"s MANA Leading the Pack During the first month of 2023, the top two leading cryptocurrencies, bitcoin and et
Hut 8 begins construction on 63MW crypto mining site in Texas
Tristan Greene5 hours agoHut 8 begins construction on 63MW crypto mining site in TexasThe new site will purportedly cost 40% less than similar locations.951 Total views7 Total sharesListen to article 0:00NewsOwn this pie
New DeFi Project NEW KANGEN (NEWG) Presale Will Start on 2nd October 2020
New DeFi Project NEW KANGEN (NEWG) Presale Will Start on 2nd October 2020As the cryptocurrency world is experiencing rapid growth, decentralized finance (DeFi) platforms are also ri
How Dropgangs and Dead Drops Are Transforming Darknet Practices
How Dropgangs and Dead Drops Are Transforming Darknet Practices Since the creation of the Silk Road, authorities have waged a war against the online drug trade with a wave of sur
Ethereum client diversity improves, non-Geth clients now account for 34%
Brayden Lindrea4 hours agoEthereum client diversity improves, non-Geth clients now account for 34%While the reduced reliance on Geth is good news, “we can’t declare victory yet,” says Lachlan Feeney, founder and CE
Amaka Nwaokocha11 hours agoCFTC charges residents of Florida, Louisiana, Arkansas for crypto fraudThe regulatory body asserts that the defendants managed to entice over 14,000 individuals by creating false weekly return
New Blockchain-Based System Will Track Steers From Hoof to Plate
Peruvian shoppers are weeks away blockchain answering the age-old question first posed in 1984: “Where’s the beef?” A pilot project by Wong Supermarket, a Peruvian chain owned