Binance User Number Hits 150 Million

Binance CEO
FILE PHOTO: Zhao Changpeng, founder and chief executive officer of Binance, at the Viva Technology conference in Paris, France June 16, 2022. REUTERS/Benoit Tessier

Binance CEO Changpeng Zhao shared on X (formerly Twitter) the exchange’s operational achievements.

Among other things, he highlighted the significant growth of the audience on the platform.

Binance cryptocurrency exchange CEO Changpeng Zhao said that the number of registered users on the platform has reached 150 million. Information was previously leaked in the media that the main market for the exchange is still China.

According to Finder data, by the end of 2022, the number of registered users on the platform reached 128 million. For comparison, Coinbase’s audience was no more than 108 million people.

It is notable that the growth of traders on Binance occurred amid regulatory pressure in the United States. The Commodity Futures Trading Commission and the Securities and Exchange Commission filed lawsuits against the company.

The company has also experienced a decline in its main metrics, including market share and trading volume. According to unconfirmed data, the organization was forced to reduce bonuses and bonuses for employees to optimize expenses.

Earlier, we reported on the WSJ report revealing that China accounts for 13.4% of the total trading volume on Binance. Furthermore, more than 911,000 users are registered on the platform.

Until now, the company has not commented on this information. Meanwhile, Binance officially withdrew from the local market in 2017.

In his post, Changpeng Zhao also mentioned the launch of the platform in Japan, the MVP license in Dubai, and two new pools within Binance Launchpool.

Recall that according to the media, the exchange could face accusations of fraud in the United States. Previously, the company had to exit several European markets, including Germany and the Netherlands.