Binance leads in liquidity with over 200 million users.

Binance, the world's largest crypto exchange, has reached a milestone, with over 200 million registered users.

This achievement comes nearly seven years after the platform was launched on June 8. Binance now represents about 36% of the global cryptocurrency user base, estimated at 562 million by Triple-A Research.

Binance is ranked among the 10 most popular countries

For perspective, if Binance were a country, it would be eighth-most populous, ahead of nations like Bangladesh, Russia and Mexico. CEO Richard Teng attributed this success to the community and emphasized the ongoing journey to reach one billion users.

“This achievement is not just about Binance; it reflects the rapidly growing adoption of crypto, which empowers countless lives, and we are at the forefront of this transformative technology. However, our work is far from done. The road to one billion users is a challenge and an opportunity we welcome,” Teng added. .

Notably, this milestone came less than three months after the exchange had more than $100 billion in assets under control. As the exchange explained at the time, the rise in the value of digital assets has significantly increased the value of user assets under management.

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In parallel development, Binance has been identified as the leader in liquidity among 43 central exchanges. Kaiko highlighted Binance's dominance in terms of trading volume, volume contribution and market depth, putting it ahead of competitors such as Baybit, Coinbase and Upbit. The exchange's average transaction volume is $773 billion, significantly higher than Upbit's $110 billion, the company said.

“Looking at the liquidity rankings of 43 exchanges, Binance, the world's largest exchange, unsurprisingly takes the lead. However, Binance ranks third behind Coinbase and Bitstamp when compared to its top competitors when considering additional factors such as governance results.

Despite these successes, Binance has faced significant legal challenges globally. Last November, the exchange agreed to a US-record $4.3 billion fine after pleading guilty to multiple financial law violations. As part of the settlement, founder and former CEO Changpeng Zhao stepped down and paid a $50 million fine. He is currently serving a four-month prison sentence in California.

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In Europe, Binance has withdrawn from markets such as Austria, the Netherlands and Cyprus and canceled its license applications in Germany. In addition, the exchange has been accused of money laundering and tax evasion in Nigeria, where CEO Tigran Gambarian is currently in prison.