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Binance is the world’s leading cryptocurrency exchange in terms of the trading volume between 2017 and 2019. Initially launched in China, the company moved its headquarters in Malta. It is believed that the move was in order to avoid severe regulatory hurdles.
The exchange was launched back in 2017 by Yi He and Changpeng Zhao (CZ). The latter is also the CEO of the company and one of the most prominent people within the entire cryptocurrency community.
Binance has managed to develop into something a lot more than merely a trading platform. In fact, it provides an entire ecosystem where users can trade, invest, and even earn interest on cryptocurrency they stake.
One of the more exciting developments for Binance was the Launchpad, which gave birth to a new phenomenon in 2019 called Initial Exchange Offerings (IEOs). Unlike traditional Initial Coin Offerings, IEOs saw the cryptocurrency exchange do a serious due-diligence prior to listing the coins for trading on their very own platforms. Almost all of the major exchanges followed in the footsteps of Binance.
Earlier in 2019, Binance also introduced a dedicated Bitcoin futures platform, in addition to margin trading. The volume quickly picked up and surpassed that of the main spot exchange.
Moreover, the exchange launched its native cryptocurrency called Binance Coin (BNB). The exchange is doing a lot to ensure its utility. Traders can use it to enjoy reduced fees; it’s also the only cryptocurrency accepted for IEO investments on Binance Launchpad, and so forth.
Binance is also considered to be one of the safest exchanges out there. It has introduced the Secure Asset Fund for Users (SAFU). The exchange allocates 10% of all of the trading fees to that fund, to provide its clients with protection in extreme cases. The funds there are stored in a separate cold wallet.
Recent Binance News
Changpeng Zhao announced that Binance's next expansion target is Europe's largest economy - Germany.
The CEO of Binance explained why he and his team were disappointed by Terra’s actions following the recent project meltdown.
Luna's BTC reserves are depleted as exchanges halt UST withdrawals amid turbulent 24 hours.
The Elon Musk-Twitter saga has had another turn, this time involving many giants, including Binance.
Cryptocurrency exchange giant Binance has scored a major milestone as the first trading platform to be registered in France.
CryptoCompare's latest monthly report shows that Binance captured nearly one-third of the total amount traded on crypto spot platforms in
The exchange revealed that it has geared up screening sanctioned subjects and their relatives who may continue to use its
"If you look at the data, bitcoin’s more stable than Tesla, bitcoin’s more stable than Apple,” Changpeng Zhao argued.