Binance leads the pack with $100 trillion in all-time trade volume

Binance has surpassed a large milestone, processing implicit $100 trillion successful crypto trades since its 2017 launch.

The accomplishment was shared by CEO Richard Teng successful a station connected the X level connected Sept. 24, saying:

“Earlier this month, the all-time commercialized measurement connected Binance surpassed $100 trillion.”

The fig is treble the full marketplace capitalization of the US banal market, cementing Binance’s dominance successful the crypto industry. The important magnitude reflects the platform’s dominance and its cardinal relation successful the emerging industry.

Data from Kaiko shows that Binance is the largest crypto speech by trading measurement and controls much than 50% of the market.

The milestone comes 4 months aft Binance revealed its registered users had surpassed 200 million. Earlier successful the year, the level besides disclosed that assets nether its custody had crossed the $100 cardinal threshold.

The roadworthy to $100 trillion

Binance’s travel to this trading measurement has been thing but smooth, marked by ineligible challenges and regulatory scrutiny crossed aggregate jurisdictions.

Last year, the speech admitted to violations related to anti-money laundering, unlicensed wealth transmission, and sanctions. It agreed to pay $4.3 cardinal successful fines to US authorities, a outgo that ranked among the largest firm settlements successful history.

In the aftermath, Binance’s laminitis Changpeng Zhao agreed to measurement down, pled blameworthy to violating the Bank Secrecy Act, and wage a $50 cardinal fine. He is astir to finish serving a four-month sentence.

Meanwhile, Zhao’s successor Teng has pledged to usher successful a new epoch of compliance for Binance, though the institution inactive faces hurdles. Despite these challenges, the level has made strides, expanding its operations into caller regions, including India.

He added:

“Through the highs and lows, Binance volition support building. Because our users lone merit the best.”

Moreover, Binance co-founder Yi He besides emphasized the exchange’s renewed absorption connected serving a broader audience, stating:

“Our extremity is to marque blockchain exertion accessible to mundane people. Bubbles volition burst, but products that genuinely conscionable idiosyncratic needs volition alteration the satellite and make history.”

The station Binance leads the battalion with $100 trillion successful all-time commercialized volume appeared archetypal connected CryptoSlate.