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Binance

Binance Holdings Ltd.
Company typePrivate
IndustryCryptocurrency
Founded2017; 9 years ago (2017)
FounderChangpeng Zhao
Area served
Worldwide
ProductsCryptocurrency exchange
ServicesSpot trading, futures trading, staking, NFT marketplace
Websitewww.binance.com

Binance Holdings Ltd. (commonly known as Binance) is a big cryptocurrency exchange. It was founded in 2017 by Changpeng Zhao. It was based in China, but later Binance moved from China because the Chinese government's negative attitude to cryptocurrencies.[1][2]

The exchange gives services such as spot and futures trading, staking, and a non-fungible token (NFT) marketplace. Binance operates globally but does not have an official headquarters. It serves millions of users and supports a wide range of cryptocurrencies.[3]

History

It was founded in 2017 in China. In 2018, Binance announced plans to open an office in Malta due to stricter regulations in Japan and China. It also partnered with the governments of Bermuda and Malta to develop blockchain projects.[4] In 2019, Binance launched Binance Jersey, a platform offering Euro and British Pound trading with cryptocurrencies.[5]

In the same year, Binance raised funds for projects like Chiliz, a sports blockchain company, and a stablecoin to reduce cryptocurrency price swings. It also acquired Trust Wallet, a decentralized cryptocurrency wallet.

In November 2024, FTX started a legal case against Binance Holdings Ltd., Binance’s former CEO Changpeng Zhao, and other Binance leaders. FTX wants to get back nearly $1.8 billion, which it says was moved illegally.[6]

References

  1. ↑ "How crypto giant Binance built ties to a Russian FSB-linked agency". Reuters. Retrieved 2025-01-20.
  2. ↑ "Crypto's Most Powerful Woman Speaks Out as Crisis Rocks Binance". Bloomberg.com. 2023-06-28. Retrieved 2025-01-20.
  3. ↑ "Binance Faces Probe by U.S. Money-Laundering and Tax Sleuths". Bloomberg.com. 2021-05-13. Retrieved 2025-01-20.
  4. ↑ "World's Biggest Cryptocurrency Exchange Is Heading to Malta". Bloomberg.com. 2018-03-23. Retrieved 2025-01-20.
  5. ↑ "Crypto Giant Binance to Offer Euro Trading Pairs This Year". Bloomberg.com. 2018-06-11. Retrieved 2025-01-20.
  6. ↑ "FTX sues Binance and its former CEO for $1.8bn". The Guardian. 2024-11-11. ISSN 0261-3077. Retrieved 2025-01-20.

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