Crypto Giant Binance Surpasses 200M Users with $100B in Custody

Last Updated on June 10, 2024

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Binance mobile app running at smartphone screen with Binance logo at background. Source: Iryna Budanova -

Key Takeaways:

  • Binance has reached 200 million global users, accounting for over a third of all cryptocurrency holders worldwide.
  • Binance’s assets under custody hit $100 billion in March 2024, averaging $500 per user.
  • Despite legal challenges, Binance’s user base could grow to 300 million by 2026.

Binance, the world’s largest cryptocurrency exchange by trading volume, announced it has reached 200 million global users, a significant milestone that positions it as serving over a third of all cryptocurrency holders worldwide.

This achievement was celebrated on June 8, 2024, with Binance promoting the news across its social media platforms.

Binance’s growth trajectory has been remarkable, adding 70 million users since 2022, and the exchange aims to onboard a billion users eventually.

In addition to user growth, Binance also reported reaching $100 billion in assets under custody earlier in March, averaging about $500 per user.

Despite facing legal challenges, including the founder Changpeng “CZ” Zhao serving a sentence for fraud charges, Binance has maintained its growth and market leadership.

Research indicates that the global cryptocurrency user base reached 562 million in 2024, with Binance users accounting for about 36% of this population.

If current trends continue, Binance could reach 300 million users by 2026.

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