Key points to remember
Binance has released its year-end annual report, highlighting its key areas of progress and quantitative growth metrics. The world’s largest crypto ecosystem has crossed the 250 million registered users mark by 2024, which is a quarter of the way to the 1 billion user target.
As institutional adoption of digital assets has exploded, Binance’s VIP user base has doubled, underscoring our critical role as a bridge between traditional finance and crypto.
Record trading volumes, increased compliance, and strong community efforts marked a transformative year for Binance and the cryptocurrency industry.
In 2024, mainstream adoption of cryptocurrencies has increased dramatically, institutional players have stepped up their engagement, and digital assets have become more integrated into our daily lives than ever before. Binance, the global industry leader, has been at the forefront of these changes, driving innovation while maintaining its core mission: increasing financial freedom.
Throughout the year, Binance broke records, reached major milestones, and continued to shape the future of digital finance. With over $160 billion in user assets under custody and $100 trillion in cumulative historical trading volume, Binance demonstrated the trust placed in it by users around the world. This trust extends beyond trading, with Binance leading the way in compliance, social platforms, and community initiatives that have cemented its role as a trusted global leader in the crypto and Web3 space. Read our full year-end report for more fascinating facts and figures that outline Binance’s year in 2024.
Driving adoption: a quarter billion users
Perhaps the most extraordinary milestone we achieved in 2024 came at the very end of the year, when we surpassed 250 million registered users. This quarter-billion crypto users, a significant milestone toward the billion users we committed to onboard, underscored the platform’s unparalleled momentum this year. Notably, we welcomed 50 million users in less than six months, after celebrating the 200 million user milestone in June 2024.
This incredible growth hasn’t been limited to retail users. Institutional participation has skyrocketed, with Binance doubling its VIP user base and nearly doubling the number of registered institutional users. With features like Binance Wealth and the upgraded Tri-Party Banking service, Binance has become the go-to gateway for institutions exploring the transformative potential of crypto. As institutions drive the next wave of adoption, their growing presence on Binance reinforces the platform’s central role in bridging traditional finance and Web3.
Compliance and Security: Setting the Standard of Excellence
In 2024, we doubled down on our commitment to strengthening compliance and security by investing hundreds of millions of dollars in these key programs. Binance’s internal compliance team grew to 650 experts, helping us secure regulatory approvals in 21 jurisdictions—more than any other crypto exchange in the world.
Binance’s proactive approach to combating scams and fraud has set a new standard for the industry. We prevented $4.2 billion in potential user losses, protecting 2.8 million users from malicious actors. Additionally, $88 million in stolen or misplaced funds were recovered, highlighting Binance’s effectiveness in protecting user assets across the crypto ecosystem.
By strengthening our collaboration with global law enforcement agencies, our teams responded to nearly 65,000 requests and trained over 1,300 investigators from 80 countries. Initiatives such as the Risk Sniper channel raised awareness about fraud, while enhanced risk management tools helped filter and remove potentially risky posts on Binance Square, ensuring a safer ecosystem for all.
Improving access and utility
Binance’s mission to increase financial freedom has driven our efforts to improve access and utility of financial services. Binance Pay’s active user base grew by 226%, while fiat-to-crypto channels expanded to 20 new countries, enabling millions of people to enjoy financial tools with ease.
Binance Earn saw its total value locked increase by 144%, driven by products such as BNSOL and fixed-rate loans that offered users new ways to maximize their crypto holdings. The introduction of yields on the blockchain simplified access to decentralized finance, allowing users to participate in protocols directly through their Binance accounts. These advancements demonstrate Binance’s commitment to empowering users while ensuring the platform remains relevant in the rapidly evolving world of Web3.
Unmatched trading volumes and a robust platform
Binance’s trading ecosystem continued to break new records in 2024. The platform processed a record 4.44 million requests per second, demonstrating its unmatched scalability and speed.
Community and Education: Strengthening the Ecosystem
Binance’s community efforts reached new heights in 2024. Binance Academy educated 44 million learners, a 63% increase from the previous year, thanks to an expanded course offering and partnerships with global institutions.
Approaching 2025 with strength
2024 has been a transformative year for Binance and the crypto industry as a whole. By reaching milestones such as reaching 250 million registered users, facilitating record trading volumes, and strengthening compliance measures, we have not only solidified our leadership position but also paved the way for a more inclusive and secure financial future for millions of people. We enter 2025 with strong momentum, ready to continue driving innovation and adoption in the crypto space, further bridging the gap between traditional finance and the emerging world of Web3.
