Binance Gains 200M Users: Will It Reach the 1B Users Milestone?

• Binance acquires 200 million users, doubling its user base in just over 2 years.
• CEO Richard Teng shares his gratitude to the community members for their support over the years.
• Binance’s user base is much larger than that of other leading exchanges like Coinbase and Bybit.

Binance, the largest cryptocurrency exchange by trading volume, has recently reached a remarkable milestone of 200 million users, doubling its user base in just over 2 years. The exchange celebrated the achievement via a recent X post, sharing its gratitude to the community members.

Standing at the success point, Binance declared that the platform would continue to strive for a 1 billion mark, stating, “Your support is the heartbeat of our journey to 1 billion users.”

The crypto exchange’s journey over the past years has been a roller-coaster ride with regulatory uncertainties and legal challenges. The SEC and CFTC’s lawsuits over the firm as well as former CEO Changpeng Zhao’s departure and subsequent imprisonment were major crises that Binance faced during the period. However, amidst this chaos, Binance acquired the support of a large number of users, showcasing the platform’s leading role in the crypto space.

Binance CEO Richard Teng joined the firm’s celebration, conveying his regards to the users. He acknowledged that the successful journey is the result of the community’s support. His post read,

We have hit 200M users Binance! This milestone wouldn’t have been possible without YOU – our incredible community. From the bottom of our hearts, thank you. The journey to 1 billion users continues. Let’s keep building together.

With this recent acquisition, Binance has once again proved its dominant position in the industry with no other exchanges to challenge. Leading exchanges like Coinbase and Bybit boast much lower users, reporting a user base of 98 million and 30 million, respectively.