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1. Founding and Rise: In July 2017, Zhao Changpeng led his team to successfully establish Binance in Shanghai and issued the digital currency "Binance Coin" (BNB). In just half a year, by January 10, 2018, Binance became the world's largest cryptocurrency exchange with its excellent trading experience and innovative services.

2. Scale expansion: By 2021, Binance has 3,000 employees worldwide, with daily trading volume soaring to US$76 billion, and a valuation of up to US$300 billion, with a huge influence in the global cryptocurrency market.

3. Regulatory Challenge: From 2021, Binance begins to face strict investigations and restrictions from regulators across countries:

• In March 2021, the United States launched an investigation into it, which kicked off the regulatory scrutiny.

• In October of the same year, Binance announced its withdrawal from the Chinese market in response to China's regulatory policies on virtual currency-related business activities.

• In July 2022, the Dutch central bank imposed a fine on Binance, further demonstrating regulators’ concerns about compliance with their business.

• In June 2023, the U.S. Securities and Exchange Commission filed as many as 13 charges against Binance and Changpeng Zhao, which put Binance in a more severe regulatory situation.

2. Business content

1. Cryptocurrency Trading: Provides a wide range of cryptocurrency trading options, covering not only mainstream cryptocurrencies such as Bitcoin, Ethereum, Litecoin, but also many niche cryptocurrencies. Mainstream currencies such as Bitcoin are the leader in the cryptocurrency market, with extremely high market recognition and a wide range of application scenarios; Ethereum occupies an important position in the field of blockchain application development with innovative functions such as smart contracts. Many niche cryptocurrencies also provide investors with diversified investment options to meet the needs of different risk preferences and investment strategies.

2. Rich transaction types:

• Spot trading: Investors can buy and sell cryptocurrencies directly, and complete transactions and asset transfers instantly. It is the most basic trading method and is suitable for investors who pursue stable investment and long-term holdings.

• Contract trading: including futures contracts, perpetual contracts, etc. Investors can leverage trading by predicting the rise and fall of cryptocurrency prices to make big profits with small profits, but at the same time, it is also accompanied by high risks, which is suitable for investors with certain trading experience and risk tolerance.

• Margin trading: Investors are allowed to use part of the funds as margin to borrow more funds to trade, thereby amplifying investment returns, but also increasing potential losses, which requires high requirements for investors' fund management and market judgment ability.

3. Cryptocurrency financial services: Provide financial services such as lending, pledgeing and other cryptocurrencies. For example, investors can pledge their holdings to obtain a certain number of other cryptocurrencies or fiat currency loans to meet the capital turnover needs; or borrow cryptocurrencies for transactions through lending business to expand their investment strategies.

3. Platform features

1. High trading volume and liquidity: Binance has huge trading volume, which makes the market extremely liquid. High liquidity means that investors can quickly buy and sell cryptocurrencies at reasonable prices at any time. The market depth is good, which can effectively avoid large price fluctuations caused by excessive transaction scale, provide users with tight price spreads, and reduce transaction costs.

2. Supports multiple cryptocurrencies: As of August 2024, Binance supports more than 600 cryptocurrencies, and its extensive choices facilitate investors to build a diversified portfolio. Whether it is a popular mainstream currency or a potential emerging cryptocurrency, investors can find it on the Binance platform to meet the investment needs of different investors for different cryptocurrencies.

3. Multi-layered safety measures:

• Two-factor authentication: through mobile phone verification code, Google verification code, etc., add additional security verification links to user account login and transactions, effectively preventing theft of accounts.

• Cold storage: Store most of the user's funds in offline cold storage and isolate them from the Internet, greatly reducing the risk of stealing funds by hackers.

• Anti-money laundering measures: A complete anti-money laundering monitoring system has been established to monitor user transaction behaviors in real time, identify and prevent suspicious transactions, and ensure the compliance and security of platform transactions.

4. Competitive transaction fees: Binance's transaction fees are competitive in the industry. Moreover, if users use Binance Coin (BNB) to pay transaction fees, they can also enjoy certain discounts. This not only reduces the transaction costs of users, but also increases the use value and market demand of Binance Coin