Binance shared its successes and achievements for 2023. Among the main ones are the increase in the number of users, compliance with regulatory requirements of various jurisdictions, and new crypto licenses.
Traditionally, Binance published its 2023 Year in Review report at the end of the year, emphasizing the positive aspects and achievements in its work. In particular, Binance’s user base grew by 32% to reach 170 million accounts registered on the platform.
Among Binance’s other achievements in 2023:
- Average transaction volume on the platform grew by 18%.
- More than 3,500 merchants worldwide joined Binance Pay.
- The cryptocurrency exchange supports 112 fiat currencies.
- The Binance Earn tool for generating passive income from cryptocurrencies was used by 35% more users.
- The platform offers 431 coins and 1,785 trading pairs, which is 20% more than last year’s figures.
- SAFU fund increased to $1.2 billion.
- The amount of donations via Binance Charity amounted to $15.8 million.
- Web3 Wallet, a mobile wallet for safe storage of cryptocurrencies, was launched.
Special attention in the report was paid to compliance with regulatory requirements of various jurisdictions. In 2023, the company’s compliance spending increased by 35% to $213 million. By the end of the year, Binance had valid licenses to operate in 18 jurisdictions around the world.
What’s notable is that last year’s final report emphasized Binance’s global impact on the crypto industry, while the current one focuses on protecting users. “We took responsibility for our past conduct. In 2023, users came first for Binance, and they always will,” the report said. This paradigm shift is probably directly related to claims against Binance from a number of government agencies in the U.S., most of which were settled this year.
It’s interesting that despite the legal proceedings in the U.S. and the payment of a $150 million fine, the financial position of Changpeng Zhao, ex-CEO of Binance, didn’t get affected. According to Bloomberg Billionaires Index, as of December 29, Zhao ranks 35th in the list of the world’s richest people with assets of $37.4 billion. Over the year, he increased his personal capital by $24.8 billion.
