In 2024, the number of registered users on Binance grew by 47%, exceeding the 250 million mark, according to the exchange’s annual report.

The company called this milestone a “remarkable achievement” on its path toward serving 1 billion customers.

“Notably, we added 50 million users in less than six months, celebrating our 200 million milestone in June,” the platform’s team emphasized.

During the same period, Binance’s VIP clientele increased by 116%, while registered institutional users rose by 97%.

“With offerings like Binance Wealth and an updated Banking Triparty service, the exchange has become a gateway for institutions exploring the innovative potential of crypto. Since institutional participants are driving the next wave of adoption, their growing presence on Binance enhances the platform’s key role in connecting traditional finance with Web3,” the statement reads.

Other Highlights

4.44 million processed requests per second—an all-time high.
Over $160 million in user assets under control.
$100 trillion in cumulative trading volume.

Educational and Other Initiatives

Binance Academy reached 44 million learners.
The charitable arm provided more than $6.9 billion in aid.
Active user base for Binance Pay grew by 226%, and total locked value in Binance Earn rose by 144%.

“In 2024, we doubled our commitments to reinforcing compliance and security, investing hundreds of millions of dollars in these core programs. Our in-house compliance team grew to 650 experts, enabling us to obtain regulatory clearances in 21 jurisdictions,” the Binance team stated.

According to the report, the exchange’s anti-fraud measures prevented user losses totaling $4.2 billion, with $88 million in recovered funds.

“By strengthening cooperation with law enforcement, our teams responded to nearly 65,000 requests and trained over 1,300 investigators from 80 countries,” added Binance.

Context

At the beginning of 2024, Binance’s share of total trading volume on centralized exchanges dropped to 34%, but had rebounded to 41% by October, according to data from 0xScope.