Binance
| Binance Holdings Ltd. | |
|---|---|
| Company type | Private |
| Industry | Cryptocurrency |
| Founded | July 2017 |
| Founders | Changpeng Zhao Yi He |
| Headquarters | Unknown |
| Area served | Worldwide |
| Key people | Richard Teng Yi He (Co-CEOs) |
| Products | Cryptocurrency exchange Cryptocurrencies |
| Revenue | US$12 billion (2022) |
| Number of employees | 7,000 (2023) |
| Subsidiaries | Sakura Exchange Trust Wallet Binance Charity |
| Website | binance.com binance.us (United States) |
Binance is a global cryptocurrency exchange platform and is among the largest digital asset exchanges by trading volume. The platform offers a wide range of services, including spot and derivatives trading, non-fungible tokens (NFTs), educational resources, research initiatives, charitable programs, and user-oriented financial products. These offerings are designed to support a broad blockchain ecosystem serving millions of users worldwide.
Binance was founded in 2017 by Changpeng Zhao, a software developer who previously worked on high-frequency trading systems. The exchange was initially based in China but relocated operations to Japan shortly before the Chinese government imposed restrictions on cryptocurrency-related businesses. Binance later moved its operations to Malta and, as of the mid-2020s, does not maintain an officially declared corporate headquarters.
By 2025, Binance had reinforced its position in global cryptocurrency markets, accounting for approximately 41.1% of global spot trading volume and facilitating around US$2.55 trillion in futures trading. The exchange held an estimated 39.8% market share among centralized cryptocurrency exchanges during this period. Binance also expanded its regulatory licenses, introduced new trading products, and increased participation among professional and advanced traders across multiple regions.
Throughout its history, Binance has faced legal scrutiny and regulatory challenges in several jurisdictions, particularly concerning compliance with anti-money-laundering regulations. The platform is restricted or banned in at least ten countries due to regulatory actions, government sanctions, or compliance-related concerns. In some regions, Binance has been fully prohibited, while in others regulatory requirements have limited or prevented its operations.
On 13 May 2021, the United States Department of Justice and the Internal Revenue Service initiated investigations into Binance regarding potential money laundering and tax-related issues. No formal allegations of wrongdoing were announced at the time. Binance stated that it was cooperating with authorities and emphasized its commitment to improving compliance and regulatory standards under the leadership of Changpeng Zhao.