Binance’s cumulative trading volume hit a staggering $100 trillion, reflecting its dominance and trustworthiness in the market.
By Bena Ilyas
Edited by Marco T. Lanz
Updated
3 mins read
Binance has released its 2024 end-of-year report, showcasing its primary areas of progress and quantitative growth metrics. According to the report, the company ecosystem surpassed the milestone of 250 million registered users in 2024, adding a remarkable 50 million in just six months.
Binance’s institutional user base nearly doubled, driven by innovations like Binance Wealth and Banking Triparty. These tools streamlined adoption among traditional financial institutions eager to explore the crypto potential. Meanwhile, the exchange’s cumulative trading volume hit a staggering $100 trillion, reflecting its dominance and trustworthiness in the market.
The platform also managed $160 billion in user assets under custody, underscoring user confidence in its security protocols and performance. With figures like these, the exchange demonstrated it was more than a platform—it was a cornerstone of the crypto revolution.
“From exceeding $160 billion in user assets under custody to reaching a cumulative historical trading volume of $100 trillion, Binance showcased the trust placed in it by users worldwide,” the report said.
Security and compliance became defining pillars of Binance’s success in 2024. The platform prevented $4.2 billion in potential user losses and recovered $88 million in stolen funds. Such efforts solidified its reputation for safeguarding user assets and maintaining market integrity.
“We prevented $4.2 billion in potential user losses, protecting 2.8 million users from malicious actors,” Binance said in the report.
A dedicated compliance team of 650 experts secured authorizations in 21 jurisdictions. Additionally, Binance partnered with global law enforcement, responding to 65,000 requests and training over 1,300 investigators in 80 countries. These initiatives showcased exchange’s proactive stance on safety and collaboration in the crypto ecosystem.
Education also played a pivotal role in raising user awareness. The Risk Sniper channel, along with other tools, educated users on emerging threats, equipping them to navigate risks in a fast-paced environment.
Binance made strides in expanding access to crypto solutions. Binance Pay saw a 226% rise in users, while fiat-to-crypto channels were rolled out in 20 countries. Decentralized finance also became more accessible, with Binance Earn achieving a 144% increase in value locked through simplified tools like On-Chain Yields.
The platform’s technological capabilities stood unmatched, processing 4.44 million requests per second. New features like Spot Copy Trading and BFUSD boosted trading volumes across Spot, Futures, and Margin products, proving the platform’s scalability and user-centric focus.
Binance’s commitment to education resonated with its growing audience. Binance Academy taught 44 million learners in 2024—a 63% increase from 2023. By partnering with key organizations, it delivered practical knowledge to users navigating the rapidly evolving Web3 environment.
Beyond education, Binance strengthened its social impact. Binance Charity provided $6.9 million in aid to 72,000 individuals affected by disasters. Programs like Women in Technology Academy highlighted the platform’s drive to foster inclusivity and bridge gaps in the tech world.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
