Binance Celebrates 8th Anniversary with 280 Million Users and Major Milestones in Trading and Security

The cryptocurrency exchange Binance has reached a milestone of 280 million registered users as it celebrates its eighth anniversary. Since its inception, the platform has seen a total trading volume in its spot and derivatives markets exceed $125 trillion, according to a press release.

As reported by The Block in June 2025, Binance holds over 41% of the cryptocurrency spot market. The exchange facilitates approximately 217 million transactions daily, with a combined volume surpassing $91 billion.

The payment service Binance Pay has processed 300 million transactions amounting to $230 billion. Between 2022 and 2024, the service has enabled users to save $1.75 billion in transfer fees.

Since December 2022, Binance’s risk management systems have thwarted fraudulent activities amounting to $10 billion. The exchange has also assisted in recovering or freezing stolen assets totaling over $215 million.

The Binance team has addressed around 241,000 inquiries from law enforcement agencies and conducted over 400 training sessions focused on combating financial crimes. Nearly 22% of the exchange’s staff is engaged in compliance roles.

Founded in 2017 by Changpeng Zhao (CZ) and Yi He, Binance established the SAFU fund in 2018 to safeguard users’ assets. Between 2019 and 2021, the platform introduced its P2P marketplace along with Binance Earn and Binance Pay services. In 2022-2023, Binance implemented the Proof-of-Reserves system and launched its own Web3 wallet.

It is worth mentioning that in August 2023, the number of Binance users exceeded 150 million, and by the end of 2024, it is projected to exceed 250 million.