As an analyst, I’m sharing some key highlights from Binance‘s 2024 year-end report. This report showcases the company’s significant advancements and growth metrics. Notably, the Binance ecosystem exceeded 250 million registered users in 2024, a remarkable increase of 50 million users in just six months.
The number of institutional users on Binance nearly doubled, fueled by advancements such as Binance Wealth and Banking Triparty. These resources simplified adoption for traditional financial institutions intrigued by crypto opportunities. Simultaneously, the platform’s total trading volume soared to an astounding $100 trillion, demonstrating its market leadership and credibility.
Apart from facilitating transactions, this platform safely held approximately $160 billion worth of users’ assets. This figure highlights the trust people have in their security measures and operational efficiency. In essence, with statistics such as these, the exchange clearly proved itself to be much more than just a platform—it became a crucial pillar in the ongoing evolution of cryptocurrencies.
As a researcher, I’d rephrase that statement like this: “According to the report, my findings reveal that Binance has built an impressive track record, with its user assets under custody exceeding $160 billion and cumulative historical trading volume reaching a staggering $100 trillion, demonstrating the global trust placed in their platform.
Binance Prevented $4.2B Losses in 2024
In the year 2024, Binance’s achievements were significantly marked by a strong emphasis on security and compliance. This strategy helped the platform shield users from potential losses amounting to $4.2 billion and recover $88 million worth of stolen funds. These actions served to bolster its reputation for protecting user assets and upholding market honesty.
In their recent report, Binance stated that they successfully shielded 2.8 million users, averting a potential loss of approximately $4.2 billion from harmful entities.
A team of 650 compliance specialists successfully obtained authorizations across 21 different regions. Furthermore, Binance collaborated with international law enforcement agencies, addressing approximately 65,000 requests and instructing more than 1,300 investigators from 80 countries on their platform. These actions underscore the exchange’s commitment to promoting safety and fostering cooperation within the global cryptocurrency community.
Education was instrumental in boosting users’ understanding of potential dangers. Through the Risk Sniper channel and various other resources, users were enlightened about new hazards, thereby empowering them to handle risks effectively in a swiftly evolving context.
226% Rise in Binance Pay Users
Binance has made significant progress in broadening the availability of cryptocurrency services. The number of users on Binance Pay surged by 226%, while options for converting fiat currency to cryptocurrency were established in twenty different countries. Furthermore, decentralized finance became more approachable as Binance Earn experienced a 144% rise in the value locked through user-friendly tools such as On-Chain Yields.
The technology powering this platform outperformed all others, handling an astounding 4.44 million requests every second. Innovative additions such as Spot Copy Trading and BFUSD significantly increased trading activity in Spot, Futures, and Margin offerings, showcasing the platform’s flexibility and user-oriented approach.
Binance demonstrated a strong dedication towards education that strongly resonated with its expanding user base. In the year 2024, Binance Academy educated a staggering 44 million individuals – representing a significant 63% growth compared to the previous year. By collaborating with crucial organizations, it provided valuable, hands-on knowledge to users navigating the rapidly changing landscape of Web3 technology.
Besides focusing on education, Binance has amplified its social contributions significantly. Through Binance Charity, they distributed approximately $6.9 million in aid to around 72,000 people impacted by disasters. Moreover, initiatives such as the Women in Technology Academy demonstrate Binance’s commitment to promoting inclusivity and addressing disparities within the technological sphere.
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2025-01-09 01:57