Binance, the world’s largest cryptocurrency exchange by daily trading volume, announced on June 8 that it has reached 200 million global users. This figure is self-reported by Binance.
To mark this significant milestone, the crypto exchange celebrated across its social media platforms, highlighting the 200 million user mark as a step towards its goal of onboarding one billion users, which would be one in every eight people on Earth.
Binance’s Rapid Growth
As recently as 2022, the crypto exchange had around 130 million users. By 2023, the exchange added 40 million more, reaching a total of 170 million users. In just the first six months of 2024, Binance has gained at least 30 million additional users. If this trend continues, the crypto exchange could hit 300 million users by 2026.
The global cryptocurrency user base reached 562 million people in 2024, an increase of 142 million from 2023’s 420 million users, according to research from Triple-A. its users now make up about 36% of the global cryptocurrency user base.
Financial and Legal Milestones
Binance’s 200 million user milestone follows another major achievement. In March, the crypto exchange had reached a total of $100 billion in user assets under custody. This averages out to approximately $500 worth of assets per user.
The company has also navigated through significant legal challenges. Founder and former CEO Changpeng “CZ” Zhao is currently serving a four-month sentence on fraud charges. Despite these issues, the crypto exchange appears to have emerged relatively unscathed.
