Binance 2024 Report: $100 Trillion Trading Volume and 250M Users, but Here’s the Catch

Binance ended 2024 on a high note, setting new milestones in the crypto world. The platform now has over 250 million registered users, adding an incredible 50 million in just six months. Its trading volume reached an astonishing $100 trillion, reflecting the platform’s immense trust and activity.

Focusing on Security and Compliance

Security and compliance were major priorities for Binance this year. The exchange prevented $4.2 billion in potential user losses and recovered $88 million from hackers. With a team of 650 compliance experts, Binance earned regulatory approvals in 21 countries, reinforcing its commitment to user protection.

Binance Binance - [email protected] Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment also partnered with global law enforcement, responding to 65,000 requests and training over 1,300 investigators across 80 nations. These efforts demonstrated Binance’s active role in ensuring market integrity.

Crypto Payments and DeFi See Big Growth

Binance experienced significant growth in payments and decentralized finance (DeFi). Binance Pay expanded its user base by 226%, and fiat-to-crypto services were launched in 20 more countries. On the DeFi side, Binance Earn became even more accessible, increasing its total value by 144%.

Beyond trading, Binance focused on education. Binance Academy taught 44 million users in 2024, helping them navigate the rapidly changing crypto industry. Tools like the Risk Sniper channel equipped users to spot scams, making the platform safer for everyone.

Philanthropy is Key

This year, Binance also made a difference through charity and inclusion programs. Binance Charity provided $6.9 million in aid to 72,000 people affected by disasters. Meanwhile, initiatives like the Women in Technology Academy worked to make the tech world more inclusive and diverse.

Innovations Boost Trading Activity

For traders, Binance introduced key features like Spot Copy Trading and the BFUSD stablecoin, which increased activity across Spot, Futures, and Margin markets. The platform also safeguarded $160 billion in user assets and attracted more institutional investors, solidifying its leadership in the crypto industry.

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Not All Went Well…

Despite Binance’s milestone of surpassing 250 million users, BNB’s price remains stuck between $700 and $750, disappointing holders who expected a rally. Legal challenges, including a $4 billion SEC fine and leadership changes, have dented confidence in the token.

Many countries like Bulgaria, Czech Republic, France, Greece, Hungary, Italy, Latvia, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, and Spain have banned their operations to secure crypto users.

Challenges may come and go, but Binance’s vision for a global crypto future seems stronger than ever.