Binance is the largest cryptocurrency trading platform in the world in terms of trading volume and number of users
1. Overview
- Founded: Established in 2017, and founder Changpeng Zhao (CZ) stepped down as CEO in 2023 after a settlement with the United States
- Current CEO: Richard Teng
- Number of users: More than 170 million in 2023 and reached 300 million users globally in 2026
- Native coin: BNB 6058227a4116
2. Key achievements 2025-2026
- Tokenized real-world assets (RWA): BNB Chain captured 83% of the trading volume of tokenized stocks on the blockchain in July 2026, with a volume of $4.5 billion
- Market value of tokenized real-world assets on BNB: up 107% from $34 million at the start of 2026 to $652 million in July
- Prediction markets: trading volume jumped 86% driven by World Cup activity
- Proof of reserves: Report 33 was released in August. Coverage: Bitcoin 102.96%, USDT 102.27%, Ethereum 100.67%, BNB 111.74% 501bb685
3. Compliance and licensing - the turning point
Binance focused heavily on compliance after the FTX crisis and the 2023 US settlement worth $4.3 billion 6058
Key regulatory achievement:
Obtained 3 comprehensive licenses from the "Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM)" in December 2025
- License 1: Spot and derivatives trading platform
- License 2: Clearing, custody, and settlement of digital assets
- License 3: Financial brokerage and over-the-counter (OTC) trading
Started operating officially under regulation on January 5, 2026 ec5eb541
The company increased its compliance staff to 1,300 employees = 22% of its workforce and invested $213 million in compliance in 2023 4116227a
4. Legal challenges
1. United States: The Treasury tightened oversight in May 2026 after reports of $1 billion in transactions linked to Iran. Binance confirmed full compliance with the monitoring program imposed in the 2023 settlement
2. Australia: AUSTRAC ordered an external audit in August 2025 due to AML concerns
3. Audit: "Proof of reserves" reports are not a full audit according to accounting experts, and Mazars said it "does not provide an opinion or assurance on reliability"
5. Binance products and services
- Trading: spot, derivatives, P2P
- Binance Pay: 3,500 new merchants joined
- Web3 wallet
- Binance Research: issues quarterly and monthly market reports
- Decentralized finance (DeFi) and gaming
6. What does Abu Dhabi’s license mean for the user?
1. Higher asset protection and stricter regulatory oversight
2. Institutional adoption: opens the door for family offices and funds that were hesitant
3. Integration with banks: expansion of Web2 and Web3 partnerships 4116
Summary
Binance is moving from a "regulatory gray area" to a player at the heart of the global financial system. Its focus now: security + compliance + transparency. But it remains under the scrutiny of regulators in the US and Australia.