Binance wrapped up 2024 with impressive metrics, marking user growth and trading volume increase, while facing market challenges.
Bolstering Security and Compliance
Binance prevented $4.2 billion in potential user losses, recovering $88 million from malicious actors. The compliance team of 650 experts secured authorizations in 21 jurisdictions and responded to 65,000 requests from law enforcement, training over 1,300 investigators globally.
DeFi Growth and Educational Initiatives
In 2024, Binance Pay's user base grew by 226%, with fiat-to-crypto services expanding to 20 countries. Binance Academy educated 44 million users, while Binance Charity provided $6.9 million in aid. Innovations like Spot Copy Trading boosted platform activity, growing custodial assets to $160 billion.
BNB Token Challenges and Legal Issues
Although Binance surpassed 250 million users, BNB's price is stuck between $700 and $750. The token faced legal challenges, including a $4 billion SEC fine and operational bans in European countries like Bulgaria and France.
Binance achieved significant successes in 2024 through innovation and user growth, but faced crucial challenges affecting the BNB token and its operations in several countries.
