- Binance registered over 250 million users, marking 47% annual growth.
- Institutional participation surged, with VIP users up by 116%.
- The platform handled 4.44 million requests per second, setting a new record.
Binance wrapped up 2024 with a remarkable milestone: over 250 million registered users. This is a 47% increase on a yearly basis, adding 50 million new users over the last six months. Propelled by growing institutional interest, with a doubling of its VIP user base and surging 97% in institutional registrations, Binance cemented its position as one of the most important gateways to digital assets for institutional investors after the addition of Binance Wealth and enhanced services.
High scalability of the platform: For the first time, it reached 4.44 million requests per second, which is really incredible. These upgrades reaffirmed Binance’s leading role in driving interaction between traditional finance and Web3 innovation.
Leading Compliance and Security
In 2024, the exchange reset standards in compliance and security. Its in-house compliance team increased to 650 experts, and its various regulatory approvals reached 21 jurisdictions, more than any other global crypto platform. Proactive measures averted the loss of $4.2 billion that could have been lost by users, protected 2.8 million accounts, and recovered $88 million in stolen funds.
In tandem, collaboration with law enforcement reached an all-time high, where 65,000 requests were processed by Binance, and over 1,300 investigators were trained worldwide. Meanwhile, user-centric programs such as Risk Sniper educated millions of users about scam awareness, and the ramped-up set of risk tools shielded Binance Square from high-risk activity.
Growth in Binance Pay and Fiat-to-Crypto Channels
In a related effort, the exchange worked to improve access to finance: The number of Binance Pay users increased 226% YoY; Fiat-to-crypto channels added support for 20 more countries. The total value locked in Binance Earn jumped by 144%, with new products such as On-Chain Yields, which further streamline DeFi use for users.
On the trading side, new features such as Spot Copy Trading amped up the game and made entry into the markets a lot easier, especially for beginners. The introduction of BFUSD, a margin asset that brings rewards, underlined how Binance can innovate while offering its users utility and rewards.
Community efforts also flourished, where Binance Academy educated 44 million learners and Binance Charity aided more than 72,000 people; the Write to Earn program empowered creators, while partnerships with cultural icons drove crypto into the mainstream.
By breaking records and driving innovation, the exchange emerged as the leader in crypto adoption, compliance, and security. The platform’s achievements in 2024 set the stage for continued momentum, paving the way for a more inclusive and secure financial future in 2025.
