jakiro
Important points
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Over the past year, Binance has set new benchmarks in growth, responsibility and innovation, proving that both Binance and the cryptocurrency industry are thriving.
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The crypto industry has achieved historic milestones, including the approval of Bitcoin ETFs in multiple major markets and the adoption of a large number of institutional organizations, reflecting the legitimacy of crypto assets and the deepening of integration with traditional finance.
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Binance is committed to responsible growth, providing a secure and trustworthy platform for its more than 240 million users worldwide through substantial investments in compliance, security and regulatory participation.
A year ago, I was entrusted with an important task and I am deeply honored to lead this amazing organization created by CZ and Binance’s entrepreneurial teams into a new era in the crypto industry.This shift occurred during a challenging time in Binance and the entire crypto asset space.Many people doubt whether Binance and crypto assets can survive this stage safely, let alone continue to flourish.However, the past year has proven that this is the most transformative and inspiring new chapter in our history.For this, I would like to thank Binance’s amazing colleagues and the global community that has always supported us – it is your tenacity, wisdom and dedication that has brought our collective strength to the world over the past year.
The industry has become stronger, with increasing legitimacy, adoption and practicality.From regulatory breakthroughs to milestones in institutional adoption, this year marks the arrival of a new era.As the global leader in the industry, Binance lives up to expectations and sets the bar for growth, responsibility and innovation.Together, we prove that cryptocurrencies will not only continue to exist, but will continue to flourish, leading to greater financial freedom and a more inclusive internet.Here are some of the experiences and inspirations I have gained in my first year leading one of the most unique and innovative organizations in history.
Milestones for resilience and growth
The crypto industry has become a historic milestone in the past year.Bitcoin ETFs have been approved in major markets such as the United States, Brazil, Hong Kong and Australia, marking a wider acceptance of crypto assets.In just one year, the net inflow of Bitcoin ETFs has surpassed that of gold ETFs, confirming the growing role of crypto assets in the financial world and deepening integration with traditional institutions and systems.At the same time, the speed and range of adoption by retail investors around the world also indicate that we will achieve the goal of the first billion users, which may be faster than we had imagined.
This wave of progress is also reflected in Binance’s remarkable growth over the past year, thanks to the vision of our outstanding leadership team, the dedication of thousands of Binance people across time zones around the world, and the growing support and trust of the community for us.
Our platform now has more than 240 million users worldwide, protecting more than $130 billion in user assets.In 2024, Binance’s institutional user growth rate doubled compared to last year, indicating that professional investors’ trust in our platform and services continues to increase.We became the first centralized exchange to add up to $100 trillion in spot and derivatives trading volumes.In response to the booming industry and expanding cryptocurrency adoption, we have welcomed 1,600 new employees over the past year, especially top compliance talent.These figures not only reflect the resilience of Binance and crypto assets, but also demonstrate the maturity and acceptance that was unimaginable a year ago.
There are also some things that are difficult to capture with numbers, but are also extremely important.In dozens of meetings with regulators over the past year, I feel like a clear shift in the way they discuss crypto assets.In many countries and regions, decision makers who control the financial landscape have shown increasing curiosity and intention to understand crypto assets.Many have raised in-depth and insightful questions, showing that they are seriously thinking about how to use the power of blockchain to benefit society and pave the way for the future of crypto-financial sustainability.This growing curiosity suggests a gratifying shift in perceptions of crypto assets by regulators and policy makers, and that shift is the key to making crypto assets truly mainstream.
A new era of responsibility
As we celebrate milestones in industry growth, it is important that we also recognize that not all growth is the same.Being able to continue to drive growth in the industry is responsible growth—a process that prioritizes trust, cooperation and compliance, and ensures that all participants are safe.
The crypto industry has made great progress in this regard, and there has been a significant change in contact and cooperation with regulators.Binance is proud to be at the forefront of this change.Currently, we have obtained more than 20 licenses and registrations worldwide, such as recent approvals in important markets such as India and Argentina.Over the past year, we have also continued to invest heavily in compliance, strengthen our processes and technologies, strategically hire world-class talents, and work with regulators and policy makers around the world.
We advocate collaborative security in the field of encryption and actively assist law enforcement agencies in conducting many case investigations.In addition, over the past two years, we have held more than 200 training courses to help improve the ability of law enforcement officers to effectively respond to threats related to crypto assets.For example, in the Binance Law Enforcement Day online education event held in April 2024, we welcomed more than 1,300 investigators representing more than 80 countries.From January to mid-November 2024, we have responded to more than 55,700 enforcement requests and served more than 13,800 registered law enforcement officers.
It takes time, effort and resources to achieve such growth, but the rewards are profound.Responsible growth does not depend on the market cycle, but focuses on building infrastructure, ensuring security, and preparing for large-scale adoption, bringing the first billion users into the crypto ecosystem.
While the industry has made some progress, it is crucial to maintain this momentum in a universal commitment to transparency, compliance and security.A recent estimate shows that about a quarter of the world’s 80 largest centralized crypto asset exchanges still lack any KYC (know your customers) requirements.As an industry, we can and should do better, and Binance’s development path provides a good blueprint for peers to follow.With our joint efforts, we can enhance the entire ecosystem, ensure its long-term success and increase trust.
For the future
Looking ahead, the crypto industry will undoubtedly usher in more major progress.The momentum we have built over the past year, coupled with the favorable external environment, will make us stronger in 2025.Institutional investors are increasingly interested in exploring the potential of crypto assets, and many institutions are already taking their first steps into this field.
Cryptocurrencies are also integrated into culture and life in a new and exciting way.Memecoin, for example, is not just speculative assets—they have become a global cultural phenomenon, often the first step for young, familiar Internet users to enter the crypto world.This integration proves that the influence of crypto assets is moving beyond the financial sector and touching every aspect of daily life.As crypto assets enter the mainstream, more such fusions will appear in the future.
For me personally, the part that made me happiest and satisfied on my job on the occasion of my first anniversary is still the same as a year ago.Wherever I go, face-to-face communication with Binance users and crypto enthusiasts is always the best way to remind me of all this really means.Improve life, compete equally, achieve financial freedom, and provide people with practical tools and choices.All of this, as well as the warm smile and handshakes in every community event, are the driving force that drives me, Binance and the industry to move forward.In the wave of change, these remain unchanged.
Now is an exciting time for financial innovation, and the most exciting part is yet to come.I am proud that Binance always adheres to the user-centered approach and continues to lead the future.Our commitment remains firm: deliver value, protect and empower our communities, and drive responsible growth in this amazing industry.Let us work together to ensure that crypto assets continue to improve lives and create opportunities for millions of people around the world.Let us look forward to the second year of this new era, with more profound impact and fruitful results on Binance, the crypto industry and the global crypto community!
