Binance is the world's largest cryptocurrency exchange by trading volume. Founded in 2017 by Changpeng Zhao (commonly known as CZ) and Yi He, Binance rose rapidly from a startup to the dominant force in global crypto trading, processing hundreds of billions of dollars in monthly volume across spot, derivatives, and decentralized exchange products.

Binance offers a comprehensive suite of products including spot and margin trading, futures and options, a peer-to-peer marketplace, an NFT marketplace, a crypto-backed debit card, staking and earn products, and Binance Pay for merchant transactions. The platform supports hundreds of cryptocurrencies and trading pairs.

In 2019, Binance launched the BNB Chain (originally Binance Smart Chain), an EVM-compatible blockchain that became one of the most widely used networks for decentralized applications and DeFi protocols. BNB, the chain's native token and the original Binance exchange utility token, is among the largest cryptocurrencies by market capitalization.

Binance has faced significant regulatory challenges globally. In November 2023, the company reached a $4.3 billion settlement with the US Department of Justice and other federal agencies over charges related to anti-money laundering and sanctions violations. CZ pleaded guilty to a federal charge and stepped down as CEO. Richard Teng, formerly Binance's head of regional markets, succeeded him as CEO. Since the settlement, Binance has invested heavily in compliance infrastructure and has pursued regulatory licenses across multiple jurisdictions.

Key Products and Services

• Binance Exchange — Spot, margin, futures, and options trading with deep liquidity
• BNB Chain — Layer 1 blockchain ecosystem supporting DeFi, gaming, and dApps
• Binance Earn — Staking, savings, and yield products for passive income
• Binance Academy — Free educational resource covering blockchain and cryptocurrency topics
• Binance Labs — Venture capital and incubation arm investing in early-stage blockchain projects

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