- CEO of Binance Changpeng Zhao posted on X (formerly Twitter) the exchange’s operational achievements.
- Among other things, he noted a significant increase in audience on the platform.
CEO of cryptocurrency exchange Binance Changpeng Zhao said the number of registered users on the platform has reached 150 million. Prior to that, it was leaked to the media that China remains the main market for the exchange.
According to Finder, by the end of 2022, the number of registered users on the platform amounted to 128 million. By comparison, Coinbase’s audience reach did not exceed 108 million people.
It is noteworthy that Binance’s increase in traders came amid regulatory pressure in the United States. The company was sued by the Commodity Futures Trading Commission and the Securities and Exchange Commission.
The firm also noted declines in key metrics, including market share and trading volume. According to unconfirmed reports, the organization has had to cut employee bonuses and bonuses in order to optimize costs.
We previously covered a WSJ report that China accounts for a 13.4% share of all trading volume on Binance. At the same time, there are more than 911,000 registered users of the site.
The firm has not yet commented on this information. Meanwhile, Binance officially withdrew from the local market in 2017.
In his post, Changpeng Zhao also mentioned the platform’s launch in Japan, MVP license in Dubai and two new pools under the Binance Launchpool.
Reminder, according to media reports, the exchange may be accused of fraud in the United States. Prior to that, the company had to withdraw from several European markets, including Germany and the Netherlands.
The company had to withdraw from several European markets, including Germany and the Netherlands.