CEO Message | Binance has been leading the financial innovation of the crypto industry for seven years

By Richard TeXiaobai Navigationng, Binance CEO

In less than two days, our team and global crypto assetsCommunityWill usher inBinanceSeventh anniversary celebration, this will also be the day I take overBinance CEO 以来的首个周年庆。以一般标准而言，成立七年的公司大多还是处于成长初期，怀有抱负的的初创企业；但在加密资产行业，成立七年的公司，且在这期间几乎一直维持着领导者的地位，币安已然成为了极具经验的行业老兵，在这一历史上变化最为快速的产业内，历经各种发展时期得以生存与繁荣。

Binance, which is about to celebrate its seventh anniversary, has both of the above characteristics: it maintains the curiosity, agility, and growth mindset of a startup, and has the wisdom and resilience of a veteran who has endured various crises and learned important experiences in the difficult process. More than 210 million global users, and still growing, have given us great trust and are willing to embark on their crypto asset journey with us, becoming a force for global financial freedom and inclusion. This is where we are today.

Current status of Binance ecosystem development

Whether it is our first anniversary, second anniversary, upcoming seventh anniversary or all the upcoming anniversaries, Binance has always stayed true to its original aspiration: "user-centricity" is the most important consideration in all our decisions; a hardcore work culture and ownership thinking, with the goal of continuous innovation to truly improve people's lives.

The past year has been nothing new for Binance: a mixture of difficult challenges and exciting moments of success. As we move on from past problems and leadership changes, we’ve seen signs of renewed user confidence in strong inflows and soaring new registrations, and we remain strong and never stop building the industry.

A key milestone this year was that our global registered user base reached the 200 million mark in early June. Many of these users were already familiar with digital assets, but many were new to the industry and trusted Binance to open the door for their first foray into the Web3 world. Each of these new users is one step closer to bringing digital assets mainstream. We warmly welcome these new users and promise to do everything we can to make them feel comfortable and confident as they explore the future of finance with us.Safety.

More users means more funds under custody on Binance. Earlier this year, the amount of user funds under custody on our platform exceeded $100 billion for the first time.Safety, and is kept 1:1 under the principle of transparency.

Infrastructure that drives crypto assets into the mainstream

To better support new and old users in exploring the world of crypto assets, we provide a range of infrastructure, products and services to meet any user's needs related to Web3 and crypto assets. Currently, Binance supports 541 carefully selected digital assets and 2,632 crypto asset trading pairs. Our powerful system is ready to handle a large amount of user activity. The historical highest number of queries per second (QPS) on the Binance platform - a number that can be used to measure the number of requests sent by users to our system and responded to in one second, is as high as 2.58 million times. This number shows that Binance can smoothly handle very large loads when users need it most.

To promote the popularization of crypto assets and financial inclusion, we continue to expand our product coverage, ensure accessibility to a wider range of crypto fields, and provide important financial services.

Our Simple Earn product line allows users to add their crypto assets to 392 crypto assets, and has attracted more than 8 million users to experience Binance Financial Services. Payment is another pillar for crypto assets to enter the mainstream. Currently, more than 24 million people around the world use Binance Payment for payment.Safety, efficient domestic or cross-border transfer experience.

In the current market cycle, another key force driving digital assets into the mainstream is more institutional participation. Binance's unparalleled liquidity and market depth, as well as products and solutions tailored to the stringent requirements of professional investors, have attracted a large number of institutions to join the Binance ecosystem this year: between January and June 2024, we witnessed an increase of more than 36% in institutional user registrations.

Crypto asset education is another important foundation for the popularization of crypto assets. The total number of students visiting Binance Academy has reached 43.6 million. Through learning, users can better understandBlockchainThe world and digital assets, investing in crypto assets in a more thoughtful and responsible way.

安全与合规

Over the past seven years, our investment in regulatory compliance has been huge and will continue to be stronger. We are well aware that strong compliance practices will play a key role in the new stage of maturity of the crypto asset industry. We continue to recruit top talent, constantly hone our systems and technologies, and work closely with governments and regulators in many countries to obtain operating authorizations and registrations. Currently, we have obtained licenses and registrations in 18 jurisdictions, ranking first among all centralized crypto asset trading platforms.

币安专注的另一个领域是加强数字金融领域的安全合作。我们的执法培训项目通过举办多场线上线下课程为全球执法部门打击数字资产有关非法行为的能力建设做出了贡献。在 2023 年 6 月至 2024 年 5 月之间，币安团队处理了 62800 起执法请求，处理总请求数达到 173800 起。每处理一起请求都对犯罪案件的调查及起诉、寻找犯罪人员以及追回受害者资金起到了重要作用。

To protect Binance users from potential security risks and other extreme situations, we have maintained the SAFU fund size at over $1 billion and will continue to do so. Earlier this year, we converted all SAFU funds into a more trustworthy and transparent stablecoin, USDC, to further enhance the reliability of the fund pool and ensure that its value remains stable at $1 billion.

Looking to the future

As we enter our eighth year of serving crypto asset users, we will unwaveringly lead the digital asset industry into the next stage of development. As market and industry trends emerge, some of the forces that shape it are already well known.

The institutionalization of crypto assets, coupled with clearer regulation, will attract more large-scale investors and capital into the space. At the same time, the importance of retail users will not change, as the group of major early adopters will continue to expand, attracting more new users from new regions and populations. They need a more intuitive user experience, easy-to-understand crypto asset knowledge, user support, and continuous innovation - Binance is born for this.

With the globalCommunityWith the trust and support of the Group, we believe that the hard work of the past seven years has laid a solid foundation for greater success, and the road to financial freedom and inclusiveness will become wider and wider. And all this has just begun.

The article comes from the Internet:CEO Message | Binance has been leading the financial innovation of the crypto industry for seven years

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