Binance

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 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 and later relocated to Japan before moving operations to Malta. As of the mid-2020s, Binance 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 cryptocurrency futures trading. The exchange held an estimated 39.8% market share among centralized cryptocurrency exchanges during this period.

Throughout its history, Binance has faced legal scrutiny and regulatory challenges in multiple jurisdictions, particularly related to anti-money laundering compliance. The platform is restricted or banned in at least ten countries due to regulatory actions, government sanctions, or compliance concerns.

On 13 May 2021, the United States Department of Justice and the Internal Revenue Service initiated investigations into Binance over 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 efforts to improve compliance standards.