Key Points

Binance has released its annual report, highlighting Binance’s key areas of progress and quantitative metrics for growth. In 2024, the number of registered users of the world’s largest crypto ecosystem exceeded 250 million (a quarter of a billion!).

As institutional adoption of digital assets surges, Binance has doubled its VIP user base, underscoring our leadership in bridging traditional finance and cryptocurrency.

Record-breaking transaction volume, expansion of compliance areas, and strong community efforts mark this as a transformative year for Binance and the cryptocurrency industry.

In 2024, mainstream cryptocurrency adoption will surge, institutional players will be deeply involved, and digital assets will be more closely connected to daily life than ever before. As a global leader in the industry, Binance has led these changes and continues to drive innovation while staying true to its core mission: to advance the free flow of money.

During the year, Binance broke records, achieved multiple milestones, and continues to shape the future of digital finance. From more than 160 billion US dollars in user assets under custody to a cumulative historical transaction volume of 100 trillion US dollars, Binance has demonstrated the trust of users around the world. This trust extends beyond trading, Binance also leads the way in compliance, social platforms, and community initiatives, solidifying its position as the world’s most trusted cryptocurrency and Web3 leader. Read our full year-end report to learn more about Binance’s exciting data and developments in 2024.

Driving Adoption: Breaking 250 Million Users

Perhaps the most extraordinary milestone we reach in 2024 is surpassing 250 million registered users at the end of the year. These 250 million cryptocurrency users mark an important step toward our goal of 1 billion users and underscore the platform’s unrivaled momentum this year. Notably, we added 50 million users in six months, and we celebrated hitting the 200 million user mark back in June 2024.

This amazing growth is not limited to retail investors. In 2024, institutional participation increased significantly, with Binance doubling its number of VIP users and almost doubling the number of registered institutional users. With features like Binance Wealth and upgraded banking services, Binance is the premier gateway for institutions to explore the transformative potential of cryptocurrencies. As institutions drive the next wave of adoption, their increasing activity on Binance further solidifies the platform’s critical role in bridging the traditional finance and Web3 worlds.

Compliance and Security: Setting the Gold Standard in the Industry

In 2024, Binance doubled down on its commitment to strengthening compliance and security, investing hundreds of millions of dollars in these critical projects. Binance’s internal compliance team has grown to 650 experts, allowing us to successfully obtain regulatory licenses in 21 jurisdictions, more than any other global crypto platform.

Binance proactively combats scams and fraud, setting a new benchmark for the industry. We successfully prevented $4.2 billion in potential user losses and protected 280Thousands of users are protected from malicious behavior. In addition, we recovered $88 million in stolen or lost funds, fully demonstrating Binance’s effectiveness in protecting user assets.

By strengthening collaboration with law enforcement agencies around the world, our teams have responded to nearly 65,000 calls and trained more than 1,300 investigators from 80 countries. Several initiatives, including the launch of the "Binance Risk Sniper" channel, educate users on identifying fraud, while enhanced risk management tools screen and remove high-risk posts on Binance Square, providing a safer place for all users. ecological environment.

Expand financial services and applications

With the mission of “promoting the free flow of money”, Binance strives to expand financial services and applications. Binance Pay’s active users grew by a significant 226%, and 20 new fiat-to-cryptocurrency channels were added, providing millions of users with convenient financial tools.

Binance Finance’s total locked value increased by 144%, and products such as BNSOL and fixed-rate loans provide users with new ways to maximize their crypto asset holdings. The launch of on-chain earnings simplifies the process of participating in decentralized finance, allowing users to participate in DeFi protocols directly through their Binance account. These advancements demonstrate Binance’s commitment to empowering users while ensuring it remains competitive in the rapidly evolving Web3 space.

Unrivaled Platform Stability

Binance’s trading ecosystem continues to set new standards in 2024. The platform processed a record 4.44 million requests per second, demonstrating unparalleled scalability and speed. The trading volume of spot, contract and leverage products has surged, and innovative features such as spot copy trading and BFUSD advancement have also further improved user participation.

Spot copy trading simplifies market entry for novices, while creating a source of income for experienced traders. As a unique reward-based margin asset, BFUSD highlights Binance’s innovative capabilities in the trading field and provides users with a dual experience of practicality and incentives. By enhancing our liquidity and risk management systems, we ensure that both retail and institutional traders enjoy an excellent trading experience.

Community, Charity and Education: Strengthening the Ecosystem

In 2024, Binance’s community efforts reached new heights. Binance Academy provides educational services to 44 million learners, a year-on-year increase of 63%, and has expanded course content and cooperation with global institutions. Binance Charity has provided over $6.9 million in aid, helping 72,000 people affected by natural disasters and funding long-term projects such as the Women in Technology Academy.

Binance Square has become the fastest growing crypto social platform, with monthly active users reaching 35 million. ‘Write to Earn’ program empowers content creators, and partnerships with global figures such as Cristiano Ronaldo and Alpine F1 Team drive cryptocurrency’s role in pop culturepopularity in.

Enter 2025 with strong momentum

2024 is a year of change for Binance and the entire crypto industry. By reaching the 250 million registered user milestone, record transaction volume, and enhanced compliance measures, we not only solidify our leadership position, but also create a more inclusive and secure financial future for millions of people. We will enter 2025 with strong momentum, continue to drive innovation and adoption in the crypto industry, and further bridge traditional finance with the emerging Web3 world.