Binance Surpasses 170 Million Users Worldwide

Binance, the world's leading cryptocurrency exchange, just reached a remarkable milestone: it now has over 170 million users worldwide. This monumental achievement was announced by the head of Binance, Richard Teng.

Richard Teng took to social media to share the exciting news. In a tweet, he stated, "GM - we have crossed 170m global users. Thanks for your support 💪. Keep building #Binance." The tweet was accompanied by a chart showing the impressive growth that Binance has experienced.

This remarkable number of users reflects the tremendous growth of Binance in recent years. In August, the former CEO of Binance, Changpeng Zhao, announced that the exchange had reached 150 million registered users. Within just a few months, Binance has gained an additional 20 million users, solidifying its position as the largest crypto exchange in the world.

Comparatively, Coinbase, one of the largest American crypto exchanges, currently boasts approximately 98 million users. Binance's user base has surpassed Coinbase by a significant margin, highlighting its global dominance in the crypto space.

The growth of Binance is all the more impressive considering the challenges the exchange faced this year. Binance has been entangled in legal battles with both the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC). Despite these hurdles, Binance managed to acquire over 40 million new users, demonstrating its resilience and appeal to crypto enthusiasts worldwide.

Furthermore, Binance's success has directly contributed to the wealth of its founder, Changpeng Zhao. According to Bloomberg, Zhao's net worth soared to $37 billion, with the majority of his wealth tied to his ownership stake in Binance. This places Zhao at the forefront of the cryptocurrency billionaire club, solidifying his status as a key player in the industry.

As Binance continues to dominate the crypto market, it remains committed to innovation and expansion. The exchange recently launched Binance Japan and secured an Operational MVP License in Dubai, making it the first exchange in the world to achieve this milestone. With its ever-growing user base and groundbreaking developments, Binance is undoubtedly shaping the future of cryptocurrencies.