TL;DR
- Binance surpasses 250 million users, marking a major step towards its goal of onboarding 1 billion users.
- The platform recorded $22.6 billion in user deposits in 2024 and became the first centralized platform to reach $100 trillion in lifetime trading volumes.
- Binance introduced new trading options, including perpetual contracts with up to 75x leverage, enhancing the trading experience for its expanding user base.
Binance has reached a significant milestone by surpassing 250 million users. This achievement marks a major step towards Binance‘s ambitious goal of onboarding 1 billion users. The announcement was made by Binance CEO Richard Teng, who expressed his gratitude to the Binance community for their support in achieving this monumental success.
What a year! We've hit an incredible milestone of quarter billion users.
A huge thank you to our amazing community for making this possible. Together, we're one step closer to our vision of onboarding 1 billion users.
Here’s to an even bigger 2025! pic.twitter.com/NAlCSEMFYk
— Richard Teng (@_RichardTeng) January 2, 2025
A Year of Remarkable Growth
The year 2024 was a period of immense progress for Binance. The platform recorded approximately $22.6 billion in user deposits, surpassing the combined total of the next ten largest crypto exchanges. Binance also became the first centralized platform to reach $100 trillion in lifetime trading volumes, solidifying its leadership in the crypto market.
Overcoming Challenges
Binance’s success is particularly noteworthy given the challenges it faced in late 2023. The exchange paid a hefty $4.3 billion fine to the U.S. government over money laundering and sanctions violations.
Changpeng Zhao (CZ), the former founder of Binance, stepped down from his role as CEO and is currently serving a prison sentence. Under the leadership of Richard Teng, Binance has made a strong comeback, focusing on enhancing regulatory compliance and improving its reputation.
New Trading Options
To further expand its offerings, Binance has introduced new trading options for its users. On January 2, 2025, Binance Futures launched perpetual contracts with up to 75x leverage for various pairs, including GRIFFAINUSDT, AI16ZUSDT, and ZEREBROUSDT. This initiative is anticipated to improve the trading experience for Binance’s expanding community of users.
Richard Teng expressed his excitement about the future, stating, “What a year. We’ve hit an incredible milestone of a quarter billion users. A huge thank you to our amazing community for making this possible. Together, we’re one step closer to our vision of onboarding 1 billion users. Here’s to an even bigger 2025!”
As Binance continues to grow and innovate, it remains committed to providing a secure and efficient platform for its users. The introduction of new trading options and the achievement of significant milestones demonstrate Binance’s dedication to leading the cryptocurrency market and shaping the future of digital finance.
