On July 14, the Binance crypto exchange turned seven years old. The company’s CEO Richard Teng shared statistics and plans.
In the spirit of #BinanceTurns7I took some time to reflect on our incredible journey.
While we’ve excelled in many areas, #Binance has also learned & grown in others. The result? A maturing organization that always puts users first. 🙏
Read more ⤵️https://t.co/6cqr1EEeOM
— Richard Teng (@_RichardTeng) July 12, 2024
Teng noted a challenging but important year for Binance, with a key achievement being surpassing 200 million registered users worldwide.
The top manager added that the exchange currently supports 541 “carefully selected” digital assets and 2,632 trading pairs. The record number of requests per second reached 2.58 million.
Binance Achievements. Data: Binance blog.
Teng named the adoption of cryptocurrency as one of the most important narratives in the current cycle TradFiAccording to him, from January to June the company recorded a 36% increase in institutional registrations.
Between June 2023 and May 2024, the trading platform’s security teams processed about 62,800 law enforcement requests, bringing the total number to 173,800, the platform’s head added.
On November 21, 2023, Teng took over as CEO of Binance from the company’s founder Changpeng Zhao, who stepped down as part of a deal with the US Department of Justice. The platform agreed to pay a $4.3 billion fine.
Zhao is currently serving a four-month sentence in a federal prison in Lompoc, California.
The new CEO promised to transform the cryptocurrency exchange and implement a traditional corporate structure. The latter includes a board of directors, headquarters, and financial transparency, he said.
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Source: Cryptocurrency
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