Binance, the world's leading digital asset exchange, recently announced that its user base has surpassed the 200 million mark, with user assets under custody reaching $100 billion this year.

Exceeding 200 Million Users

With Binance reaching 200 million users, it signifies its significant position within the global cryptocurrency user base, constituting approximately 36% of the total users. This rapid growth has been particularly evident in recent years, with Binance adding 40 million users in 2023 and another 30 million in the first half of 2024.

Binance celebrated this milestone on its social media platforms, viewing it as a step toward achieving its ambitious goal of attracting one billion users globally.

With the current growth trajectory, Binance is expected to reach 300 million users by 2026. This prediction is supported by the increasing adoption of cryptocurrencies globally, with the total number of cryptocurrency users reaching 562 million in 2024, a significant increase from the previous year's 420 million.

User Assets Under Custody Surpass $100 Billion

Earlier this year, Binance announced that its user assets under custody had reached $100 billion, equivalent to approximately $500 per user, demonstrating the trust and confidence users have in the platform, despite its founder and former CEO, Changpeng "CZ" Zhao, facing legal challenges.

CZ is currently serving a four-month sentence in a low-security facility in California on fraud charges. Reports suggest he regrets his actions and is cooperating with authorities. Despite these legal issues, Binance has maintained its position as the leading global cryptocurrency exchange.

Recent Developments

Firstly, Mastercard has reintroduced payment services for cryptocurrency purchases. Previously, Mastercard suspended this service in the United States in August 2023 due to legal issues involving Binance.

Additionally, Binance is attempting to dismiss a lawsuit in London valued at £10 billion (approximately $12.8 billion), involving allegations of collusion to delist the Bitcoin Satoshi Vision (BSV) cryptocurrency.

Despite facing legal and market challenges, Binance continues to demonstrate strong growth momentum and market leadership, making its future development promising.