Binance's 7th Anniversary: Global User Base Exceeds 200 Million, "Be Binance" Redefines Binance's Value

On July 14th, the world's largest cryptocurrency exchange Binance is celebrating its seventh anniversary around the globe. Many may not know that on the same date 235 years ago, during the French Revolution, the people stormed the Bastille prison, sowing the seeds of liberty and democracy, marking a milestone for the modern free society. Seven years ago, Binance began its journey on the same day, promoting cryptocurrencies with "freedom" at its core, embodying its spirit and promoting mass adoption. Just like all significant transformations, it has been a slow and arduous process. However, this year, despite the absence of the prominent figure Zhao Changpeng CZ, Binance's seventh anniversary is led by CEO Richard Teng and co-founder He Yi. The community has not departed from Binance; instead, this year, Binance has surpassed the milestone of 200 million global users, indicating that Binance has left behind its past challenges and is now writing a new chapter for itself. "Be Binance, that's the theme of the seventh anniversary," said Richard Teng in a congratulatory video. "As for what Be Binance means, there may be over two hundred million answers." Co-founder He Yi emphasized that Binance's success stems from the complementary relationship between the management team and the Binance community. In its seventh year, Binance has posed an open question to the public, "How do you define Binance?" This move has downplayed the idol-worship culture common in the cryptocurrency industry. At this moment, Richard Teng and He Yi appear more as servants of the community, refocusing on the fundamental aspect of everything - the "users." Binance's commitment to protecting users, responding to their needs, and thirst for innovation has been highlighted. Binance's seventh anniversary may seem uneventful, but it likely signals a more mature and stable future for the cryptocurrency enterprise.

One 2 billion users worldwide, $100 billion in assets, institutional growth of 36%

Looking back over the past year or two, despite the downturn in the blockchain industry, the approval of a Bitcoin spot ETF in the United States earlier this year has brought new users and new funds to the crypto market, leading to a revival. According to data from digital analytics company Sensor Tower, in the first quarter of 2024, the Binance mobile app has surpassed 6.3 million downloads, ranking first in the fintech and Web3 sectors, far ahead of the second-largest competitor by 21%, and even several times more than other industry apps.

Most notably, Binance surpassed the milestone of 2 billion registered users globally in June of this year. CEO Richard Tang stated at the time, "Binance has grown from 1 billion to 2 billion users in just 2 years, reflecting the shift of crypto assets from 'early adopters' to 'early mainstream'; this not only signifies a victory for an exchange but also a sign of maturity for the entire industry."

On the other hand, not only has the retail user market continued to expand, but with institutions entering the crypto market on a large scale, Binance's institutional users also experienced a growth of 36% in the first half of 2024. This trend has driven Binance's user assets to officially surpass the milestone of $100 billion US dollars in March. This wave of strong capital inflow not only demonstrates investors' confidence in the crypto market's recovery but also shows global users' trust in the Binance exchange.

In a strict sense, Binance may be the only one that can be called a mature "cryptocurrency financial institution," offering a variety of products that embody the characteristics of cryptocurrencies, advanced regulatory self-compliance, and a physical presence to provide global services.

Two Exchange stigmatization, Binance works with governments and industry to change perceptions

"Why do we always face regulatory pressure?" This may be a question on the minds of many in the crypto community.

The reality is that some criminals do exploit cryptocurrencies for illegal activities, and exchange operators who strive for compliance face skepticism from the public and governments as frontline regulators. In the past few years, a series of incidents involving crypto companies have deeply affected the public's perception of the industry.

Proactive compliance, assisting in regulation is a daily routine for Binance

For many years, Binance has actively collaborated with various governments. Despite attracting attention due to its size, it often becomes the primary target of industry investigations; however, whether in the Binance US case judgment or in the opinions of crypto analysis experts, Binance's strong commitment to regulatory cooperation and compliance improvement is widely acknowledged.

Binance has established the world-leading Financial Crime Compliance (FCC) unit, composed of top investigators, blockchain analysts, and former law enforcement officers from agencies such as the IRS, FBI, and Europol. Through assisting in investigations and law enforcement, sharing data intelligence, and providing law enforcement training, Binance has successfully helped governments around the world crack down on numerous financial crimes.

Over the past year, Binance has