Binance: a controversial yet high-performing crypto platform

Founded in 2017 by Changpeng Zhao (aka CZ), Binance has been the subject of several investigations and sanctions by various authorities: the SEC, the FCA, the FSC, the OSC, the MAS…

In November 2023, Binance reached an agreement with the Department of Justice (DOJ) and the US Department of the Treasury. The crypto company agreed to pay a fine of 4.3 billion dollars. That’s not all! It also consented to cooperate with the authorities, to strengthen its compliance measures, and to appoint a new CEO, Richard Teng.

An undisputed leader in the crypto market

For many analysts, Binance has received the largest sanction ever imposed on a crypto platform. Despite this agreement, Binance has not lost the trust of traders. On the contrary, it has recorded net inflows of 4.6 billion dollars since November 21, 2023, according to data from DefiLlama. This is more than what its main competitors (such as OKX and Bybit) have attracted over the same period.

Binance remains the undisputed leader of the crypto market. It currently holds a market share of 28.5% with:

• a market capitalization of 73.8 billion dollars,
• a daily trading volume of 24.7 billion dollars.

The crypto exchange Binance also has the highest liquidity, which enables it to offer the best prices and the lowest fees to its users.

Despite the legal setbacks, Binance manages to establish itself in the crypto market. It remains to be seen whether it will be able to stay the course in the coming months!

Ariela R.

Je m’appelle Ariela et j’ai 31 ans. J’oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n’ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c’est un univers qui m’intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d’en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)