Binance Celebrates Eight Years with 280 Million Users

The cryptocurrency exchange Binance has reached 280 million registered users by its eighth anniversary. Throughout its operation, the total trading volume on the platform’s spot and derivatives markets has exceeded $125 trillion, according to a press release.

As of June 2025, data from The Block indicates that the exchange commands over 41% of the cryptocurrency spot market. Approximately 217 million transactions are conducted daily on the platform, with a total volume exceeding $91 billion.

“Eight years ago, we set out to make cryptocurrencies a primary means of enhancing financial freedom. Today, 280 million people have made them part of their lives, and Binance has become their reliable guide,” stated the exchange’s CEO Richard Teng.

The payment service Binance Pay processed 300 million transactions totaling $230 billion. From 2022 to 2024, the service helped users save $1.75 billion in transfer fees.

Since December 2022, Binance’s risk management systems have prevented fraudulent operations amounting to $10 billion. The exchange has helped recover or freeze stolen funds exceeding $215 million.

The Binance team has handled approximately 241,000 requests from law enforcement and conducted over 400 training sessions on combating financial crimes. Nearly 22% of the exchange’s employees work in compliance. 

Binance was founded in 2017 by Changpeng Zhao (CZ) and Yi He. In 2018, the platform established the SAFU fund to protect user funds. Between 2019 and 2021, Binance launched a P2P platform, as well as the Binance Earn and Binance Pay services. In 2022-2023, the exchange implemented a Proof-of-Reserves system and introduced its own Web3 wallet.

In August 2023, the number of Binance users surpassed 150 million, and by the end of 2024, it reached 250 million.