Highlights
Binance released its annual report, highlighting Binance's key progress areas and growth quantitative indicators. In 2024, this global largest crypto ecosystem surpassed 250 million registered users (a quarter of a billion!)
With the surge in institutional adoption of digital assets, the number of Binance's VIP users doubled, underscoring our leadership in connecting traditional finance and the crypto space.
Record-breaking trading volumes, expansions in compliance, and strong community efforts all signify that this was a transformative year for Binance and the crypto industry.
In 2024, mainstream crypto adoption skyrocketed, with deep involvement from institutional players, and digital assets becoming more integrated into everyday life than ever before. As the global industry leader, Binance has driven these changes, continuously innovating while upholding its core mission: to advance the free flow of money.
This year, Binance broke multiple records, achieved numerous milestones, and continued to shape the future of digital finance. From custodying over $160 billion in user assets to accumulating $100 trillion in lifetime trading volume, Binance has demonstrated the global trust in it. This trust is reflected not only in trading, but also in Binance's leading positions in compliance, social platforms, and community initiatives, solidifying its status as a globally trusted crypto and Web3 leader. Read our full year-end report to learn more about Binance's impressive 2024 data and developments.
Driving Adoption: Surpassing 250 Million Users
Perhaps our most extraordinary milestone in 2024 was surpassing 250 million registered users by the end of the year. This 250 million crypto users mark a significant step towards our 1 billion user goal and showcases the platform's unparalleled growth momentum this year. Notably, we added 50 million users in just six months, celebrating the 200 million user milestone as early as June 2024.
This astounding growth was not limited to retail, as institutional participation significantly increased in 2024, with Binance's VIP user count doubling and the number of registered institutional users nearly tripling. Through features like Binance Wealth and the upgraded Binance Prime services, Binance has become the go-to portal for institutions to explore the transformative potential of crypto. As institutions drive the next wave of adoption, their growing activity on Binance further solidifies the platform's critical role in bridging traditional finance and Web3.
Compliance and Security: Setting the Industry's Gold Standard
In 2024, Binance doubled down on strengthening compliance and security, investing hundreds of millions of dollars into these crucial initiatives. Binance's in-house compliance team has grown to 650 experts, enabling us to successfully obtain regulatory licenses in 21 jurisdictions, surpassing any other global crypto platform.
Binance has proactively taken a leading role in combating fraud and scams, setting new benchmarks for the industry. We successfully prevented $4.2 billion in potential user losses and protected 2.8 million users from malicious activities. Additionally, we recovered $88 million in stolen or lost funds, demonstrating Binance's effectiveness in safeguarding user assets.
By strengthening cooperation with global law enforcement agencies, our team responded to nearly 65,000 requests and trained over 1,300 investigators from 80 countries. Initiatives like the "Binance Risk Sniper" channel provided user education on identifying fraudulent activities, while enhanced risk management tools screened and removed high-risk posts on the Binance ecosystem, creating a safer environment for all users.
Expanding Financial Services and Applications
Driven by its mission to "advance the free flow of money," Binance has worked to expand its financial services and applications. Binance Pay's active user base grew by a remarkable 226%, with the fiat-to-crypto on-ramp added in 20 new countries, providing hundreds of millions of users with convenient financial tools.
Binance Earn's total locked value grew by 144%, with products like BNSOL and fixed-rate lending offering users new ways to maximize their crypto holdings. The launch of on-chain yield simplified the participation process in DeFi, allowing users to directly engage with DeFi protocols through their Binance accounts. These advancements demonstrate Binance's commitment to empowering users while ensuring its competitiveness in the rapidly evolving Web3 landscape.
Unparalleled Platform Stability
Binance's trading ecosystem continued to set new benchmarks in 2024. The platform processed a record-breaking 4.44 million requests per second, showcasing unmatched scalability and speed. Spot, futures, and leveraged product trading volumes surged, with innovations like copy trading and BFUSD further enhancing user engagement.
Copy trading simplified market access for new traders, while creating revenue streams for experienced traders. BFUSD, a unique reward-based margin asset, highlighted Binance's innovation in trading, providing users with a dual experience of utility and incentives. By strengthening liquidity and risk management systems, we ensured that both retail and institutional traders enjoyed an exceptional trading experience.
Community, Charity, and Education: Strengthening the Ecosystem
In 2024, Binance's community efforts reached new heights. Binance Academy provided educational services to 44 million learners, a 63% year-over-year increase, and expanded its course content and global institutional partnerships.
Binance Charity provided over $6.9 million in aid, helping 72,000 people affected by natural disasters, and funded long-term initiatives like the "Women in Tech Academy." Binance Ecosystem became the fastest-growing crypto social platform, reaching 35 million monthly active users. The "Write to Earn" program empowered content creators, and collaborations with global icons like Cristiano Ronaldo and the Alpine F1 team drove crypto's mainstream cultural adoption.
Entering 2025 with Robust Momentum
2024 was a transformative year for Binance and the entire crypto industry. By achieving the 250 million user milestone, record-breaking trading volumes, and strengthened compliance measures, we not only solidified our leadership, but also built a more inclusive and secure financial future for millions. We will enter 2025 with robust momentum, continuing to drive innovation and adoption in the crypto industry, further bridging the gap between traditional finance and the emerging Web3 world.
