The world’s largest crypto exchange has reached a new milestone despite legal and regulatory battles.
In a after on social media platform
“Today we celebrate 200 million – and it’s all because of YOU!
Your support is the heartbeat of our journey to one billion users.”
In addition to growing its user base to more than twice the population of Germany, Binance is also the leading crypto exchange in terms of liquidity, according to a new study. report from Kaiko, a digital asset analytics company.
The analytics company derives its liquidity ranking from a mix of the exchanges’ trading volume, volume share, market depth, coefficient of variation dispersion score, and market quality score.
Binance’s milestone comes after several lawsuits and fines from regulators in multiple jurisdictions.
Last month, Canada’s anti-money laundering agency reportedly fined the exchange nearly $4.4 million for failing to register as a foreign money services company. In November, Binance co-founder Changpeng Zhao resigned as CEO following allegations from the US Securities and Exchange Commission (SEC) that the company had violated US federal laws.
And currently, Binance officials and some US lawmakers are urging the Nigerian government to release one of the company’s employees from prison, after the country accused the crypto exchange of contributing to the fall of the Nigerian naira.
Shortly after taking over as CEO, Zhao’s successor, Richard Teng, was said that the exchange would move toward better compliance in an effort to claim a larger share of the growing crypto market.
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