Bitcoin News and Finance
Binance Users Reach 150 Million, CZ Reveals Skip to main content

Binance Users Reach 150 Million, CZ Reveals

Binance Users Reach 150 Million, CZ Reveals

Registered users of Binance have hit 150 million, the crypto exchange’s founder and CEO, Changpeng Zhao (CZ), announced on social media. The milestone has been reached despite increased regulatory pressure on the world’s largest trading platform for digital assets in the past few months.

Crypto Exchange Binance Adds 30 Million Users in a Year

The biggest cryptocurrency exchange by daily trading volume, , now has 150 million registered users, its chief executive unveiled in a tweet on Thursday. In the post, CZ also marked some of the company’s recent successes that came amid heightened regulatory scrutiny of its business operations around the world.

This year, Binance has been targeted by authorities in a number of its established markets. In the U.S., it’s involved in legal battles with the country’s securities and derivatives commissions, which sued it for breaking laws in their respective fields.

In Europe, the exchange is under investigation by French prosecutors for money laundering and was ordered by Belgium’s financial watchdog to cease providing crypto services in the country. It also withdrew its license applications and canceled its registrations in several countries.

Despite the challenges on both sides of the Atlantic, Binance has been able to grow its user base by 30 million in the past year. Chinese crypto journalist Colin Wu noted in a tweet that in July 2022 the exchange said the number of its registered users had exceeded 120 million.

The blogger, better known by his Twitter handle, Wu Blockchain, also quoted data from web analytics firm Similarweb, according to which Binance’s top five sources of traffic in the last three months have been Turkey, Vietnam, Russia, Argentina, and India.

Besides the lawsuits filed by regulators, a probe by the U.S. Department of Justice is looking into whether the crypto trading platform has been used by Russians to circumvent sanctions imposed on their country over its military invasion of Ukraine.

While amid this regulatory crackdown, the market share of Binance’s U.S. subsidiary shrank significantly, a report by the Wall Street Journal revealed on Tuesday that Binance users in China exchanged $90 billion of crypto assets in a month, making the country its biggest market. That’s despite a ban on crypto trading since 2021.

In his tweet, CEO Changpeng Zhao also highlighted some of his company’s recent successes. Binance is restoring full services in Japan this month, following the acquisition of a locally registered and regulated exchange in November 2022. It also obtained a license to provide crypto services in and from Dubai.

Do you think Binance users will continue to grow in number despite the regulatory pressure on the largest crypto exchange? Share your thoughts on the subject in the comments section below.

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory