Summary: Binance, one of the largest cryptocurrency exchanges, has reached a milestone of over 240 million registered users after the crypto market boom in 2024. The CEO of Binance, Richard Teng, highlighted the growth and size of the crypto market. The exchange remains a full KYC exchange and has been accused of hosting bot accounts in the past, but recent user growth is supported by online trends. Binance played a significant role in the Bitcoin rally and meme token rallies. It still maintains a dominant position in terms of exchange volumes, holding more than $36 billion in Bitcoin deposits. The exchange is transparent, regularly reporting its reserves on-chain. Binance operates globally, including a special division for US traders, and has moved its registration to the Cayman Islands for a global presence. Its main user base comes from Asia and Europe. In Europe, Binance is adapting to local regulations and is not threatened on the European market. Binance's decentralized ecosystem and Binance Smart Chain lag behind other networks. The native asset, BNB, has experienced no significant price breakthroughs, and the Binance ecosystem has phased out Binance USD (BUSD) in favor of FDUSD. While Binance has seen success with its centralized activities, it also retains various programs related to incubation, education, DeFi, staking, and passive income.



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