Binance surpasses 170m users worldwide

The number of Binance users has exceeded 170 million, the head of the exchange said.

The head of the Binance cryptocurrency exchange, Richard Teng, said the number of platform users worldwide has exceeded 170 million. Taking to X, he made the announcement.

In the post, Teng did not indicate any country specific data.

In early August, the founder and former CEO of Binance, Changpeng Zhao, noted that the number of registered users of the world’s largest crypto exchange reached 150 million.

The number of users on the largest American crypto exchange, Coinbase, currently stands at approximately 98 million.

Despite the difficulties in 2023, including lawsuits from the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC), the crypto exchange has grown by more than 40 million users over the past year.

Also this year, Bloomberg reported that Zhao became $25 billion richer, with the total amount of Zhao’s wealth now estimated to be $37 billion. The bulk of Zhao’s wealth, per the report, comes from his majority stake in Binance.

You might also like: Binance’s Changpeng Zhao barred from leaving U.S. ahead of sentencing
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Shiba Inu Mainnet Registers Increased Activity Alongside Shibarium's Puppynet

Image
Shibarium’s native testnet, Puppynet, has been making a lot of noise of late. As reported recently, the test network processed more than 1 million transactions with the assistance of more than 200k unique wallets. Interestingly, there has been a corresponding network growth on the main Shiba Inu network as well. The latest data from IntoTheBlock revealed that the number of new and active addresses on the network increased by 5.29% and 7.55% respectively over the past week. Basically, an address is considered to be active when it becomes a direct participant in a successful transaction. New addresses, on the other hand, gauge the number of fresh entrants into the ecosystem. According to the thumb rule, the higher both the numbers, the better, for they hint towards refining participation by traders/investors. Thus, it can be said that the latest uptrend registered on both these fronts is quite an encouraging sign. Source: ITB Also Read – Shiba Inu: ‘Puppynet’ Processes 1 M
Read more

Bitwise withdraws Bitcoin and Ethereum ETF application

Bitwise Asset Management has withdrawn its application for a Bitcoin and Ethereum Market Cap Weight Strategy ETF. Bitwise Asset Management has withdrawn its application for a Bitcoin (BTC) and Ether (ETH) Market Cap Weight Strategy exchange-traded fund. It was initially filed with the U.S. Securities and Exchange Commission on Aug. 3. This decision follows a period of increased optimism in the crypto market after Grayscale secured approval for its own ETF from the SEC. Bitwise’s Chief Investment Officer, Matt Hougan, had expressed support for the SEC’s approval of crypto ETFs in a previous interview with Bloomberg. The planned ETF was designed to invest in futures contracts for either Bitcoin or Ethereum, guided by their respective market capitalizations. In addition, Bitwise was concurrently collaborating with ProShares to initiate another ETF. The company’s official statement on the withdrawal noted, “The Trust no longer intends to seek effectiveness of the Fund and no securi
Read more

Short-Term Profit Seekers Flee Overvalued Hype Coins, Sparking Sell-Off

Crypto analyst VIKTOR identifies a notable pattern in the bearish altcoin market.  He pointed to sharper declines in tokens like BIGTIME, WLD, and JTO during a recent liquidation. Trends of a stronger presence in perpetual contracts and short-term profit-seeking motives were also observed. Amid the bearish trend rocking the altcoin market since the start of the new year, a crypto analyst has spotted a noteworthy pattern in the downward trajectory of some tokens that fit into a specific category. In a recent tweet, crypto analyst VIKTOR called attention to an observation from the January 3 market turbulence, wildly dubbed “liquidation day.” VIKTOR highlighted that while most altcoins experienced a substantial downturn of approximately 30%, he pointed out a distinctive trend among specific tokens that saw even more significant drops. Specifically, he noted that sensational coins such as BIGTIME, Pyth Network (PYTH), MEME, TOKEN, Worldcoin (WLD), and Jito (J
Read more