With 200 million users worldwide, Binance, the top cryptocurrency exchange by daily trading volume, has achieved a noteworthy milestone.
On June 8, the exchange took to its social media channels to celebrate the achievement and framed the 200 million user mark as a stepping stone towards their ambitious goal of onboarding one billion users, approximately one in every eight people on Earth.
Although the assertion that the platform has the most users among exchanges has not yet been independently confirmed, it is unquestionably a noteworthy accomplishment.
Binance Continues to Attract New Users
In 2022, just two years ago, Binance claimed to have 130 million users.
By 2023, there were 170 million users on the exchange, up 40 million from the previous year.
Remarkably, Binance has already added at least 30 million new users in just the first half of 2024.
Assuming that business and industry trends stay the same, the exchange is expected to reach 300 million users by 2026 if its current growth trajectory continues.
To put Binance’s user base in perspective, Triple-A research shows that the global cryptocurrency consumer installation base grew by 142 million users from 2024 to 2025, reaching 562 million people.
This demonstrates Binance’s dominance in the market and indicates that its users make up about 36% of all cryptocurrency users worldwide.
Earlier this year, Binance reached another noteworthy milestone in addition to the impressive user count.
The business announced in March that it now had over $100 billion in user assets in custody.
This indicates that each user has assets on the platform valued at approximately $500 on average.
Although Binance has encountered legal issues, such as the recent incarceration of Changpeng “CZ” Zhao, the founder and former CEO, on fraud-related charges, the exchange has largely survived these setbacks.
CZ is presently serving his sentence in a minimum-security facility in California and is said to have expressed regret for his actions.
Binance Eyes Global Expansion
Following some regulatory obstacles, Binance returned to the country after successfully registering with the Financial Intelligence Unit of India (FIU-IND) in May.
Before that, the exchange declared that it had secured a license from VARA, the regulatory body in Dubai, which allowed the platform to serve both retail and institutional and qualified clients.
Bloomberg reports that as part of the licensing process, Changpeng Zhao, the founder and former CEO of Binance, had to give up his voting control over the Dubai unit.
Additionally, earlier this year, Binance announced Binance Thailand, a cryptocurrency exchange that is a joint venture with Gulf Innova, a division of Gulf Energy Development.
With Thai baht trading pairs, Binance Thailand, also known as Binance TH, offers a platform for digital asset exchange services.
It is noteworthy that Binance has been subject to heightened regulatory scrutiny on a global scale.
The Commodities Futures Trading Commission (CFTC) accused Binance of running an unauthorized digital asset derivatives exchange and breaking federal laws last year.
Similarly, the US Securities and Exchange Commission charged Binance Holdings LTD and ex-CEO Changpeng Zhao (CZ) for allegedly operating unregistered exchanges, broker exchanges, clearing houses, and the unregistered offer and sale of securities.