Binance Hits Mind-Blowing Record of $100 Trillion Trading Volume

Binance has achieved a significant milestone, with CEO Richard Teng announcing that the exchange has surpassed an astonishing trading volume of $100 trillion.

This achievement, shared via social media, positions Binance in a unique category, setting a record that dwarfs major financial indicators, including the entire market capitalization of the S&P 500.

This remarkable figure is double that of a crucial U.S. stock market index, reinforcing Binance’s dominant position in the cryptocurrency arena and showcasing its ability to consistently outperform rivals.

Founded in 2017 by Changpeng Zhao (CZ), Binance has grown from its modest origins to a powerhouse in the industry, driven by its user-friendly platform and appealing fee structure. After successfully raising $15 million through an initial coin offering, Binance utilized these funds to propel its rapid expansion globally.

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Despite facing significant hurdles—such as a 7,000 BTC security breach, regulatory challenges, and a hefty $4 billion penalty—Binance has not only persevered but thrived. Even the recent arrest of its founder has not deterred the company.

Currently, it boasts a trading volume of $13 billion, which, while below its usual figures, is still eight times greater than that of its closest competitor, underscoring the remarkable journey Binance has undertaken.

Alexander Zdravkov