A few years ago, Binance saw its user base double, reaching 100 million users. CEO of Binance, Richard Teng, expressed his happiness and called for more extensive partnerships.
Recently, Binance, a well-known cryptocurrency exchange, announced that it now has 200 million users worldwide. The soaring prices of Bitcoin and other cryptocurrencies have led to increased use of web3, and this milestone is a result of that trend. Despite facing regulatory challenges in some regions, Binance remains a dominant force in the cryptocurrency industry.
The 200 million users on Binance have played a major role in the platform’s rapid growth, making it the top crypto exchange in terms of trading volume. As cryptocurrencies gained global acceptance, a few years ago, Binance doubled its user base to 100 million. CEO Richard Teng was thrilled with this achievement and called for more partnerships to be formed.
Despite facing regulatory hurdles in different countries, Binance has managed to expand its user base through new listings and developments over the years. The exchange has collaborated with similar businesses to enter new markets. In order to promote the acceptance of web3, cryptocurrency users have praised Binance for supporting businesses and providing blockchain education. However, the journey has not been without challenges, as Binance has encountered regulatory obstacles in various countries.
Binance was involved in a legal battle with a US regulator for offering trading services for unregistered securities. In addition to former CEO Changpeng Zhao stepping down, Binance reached a $4.3 billion settlement with the DOJ last year.
Even skeptics have started investing in blockchain and cryptocurrencies, leading to a significant increase in their popularity. The recent surge in Bitcoin prices and other factors have attracted more people to use Bitcoin. This year, the US SEC approved spot Bitcoin ETFs, allowing traditional institutions to participate in the cryptocurrency market.
