Binance announced it surpassed 250 million registered users in 2024, marking a milestone in global cryptocurrency adoption. The announcement was made in its annual end-of-year report published on January 8.
According to Binance, the company added 50 million users in less than six months, following the 200 million user mark reached in June. The company doubled its VIP user base and nearly doubled its registered institutional accounts, supported by features such as Binance Wealth and an upgraded Banking Triparty service. Binance also reported a cumulative historical trading volume of $100 trillion and $160 billion in user assets under custody.
In 2024, Binance achieved regulatory approvals in 21 jurisdictions, including Brazil, where it obtained approval to acquire a licensed broker-dealer. The exchange expanded its compliance team to over 1,000 professionals and continued its growth in markets such as Argentina, India, and Indonesia.
According to Finbold, Binance prevented approximately $4.2 billion in potential user losses in 2024 by protecting 2.8 million users through enhanced security measures. The company expanded its compliance team to 650 employees, increased its regulatory authorizations to 21, and formed a Risk and Compliance Committee to align with regulatory mandates. Binance collaborated with law enforcement by responding to over 64,800 requests and delivering 100 training sessions, including an event with participants from 80 countries. Additionally, the platform helped recover $88 million in misplaced, lost, or stolen funds.
Binance operates as a major global blockchain platform featuring the largest digital asset exchange by trading volume. The company offers a wide range of financial products and services and is known for its comprehensive ecosystem that includes educational resources, research initiatives, charitable activities, and an NFT marketplace. Binance supports users around the clock in 40 languages while prioritizing security and regulatory compliance to protect its users and contribute to the growth of the blockchain industry.