Binance

Binance is a cryptocurrency exchange and blockchain ecosystem founded in 2017 by Changpeng Zhao (CZ). It began as an online platform for trading digital assets and quickly expanded into a broad set of services. The name combines "binary" and "finance," and the company grew to operate globally with a network of regional entities.

Binance offers spot trading for hundreds of cryptocurrencies, futures and perpetual contracts, margin trading, staking and savings programs, a P2P trading platform, and various launch and investment products. It maintains its own native token, Binance Coin (BNB), used to pay fees and participate in ecosystem applications. It also developed Binance Smart Chain, a high-performance blockchain that supports decentralized apps and BEP-20 tokens.

The corporate structure is multi-jurisdictional with entities registered in several countries. Binance operates both Binance.com, its global platform, and Binance US, a U.S.-focused service with separate compliance requirements. Regulatory status varies by country, and Binance has faced heightened scrutiny and enforcement actions in several jurisdictions, leading to licensing or market access constraints in some regions.

Security and user protection have been central to its governance. In 2019, Binance sustained a large security breach in which hackers stole funds totaling roughly 7,000 BTC; the company reimbursed users from its SAFU reserve, an internal fund for unforeseen losses. Binance has since implemented enhanced security measures and risk controls.

As one of the largest cryptocurrency exchanges by trading volume, Binance remains a major conduit for access to digital assets and the broader crypto ecosystem, while continuing to expand services and adapt to regulatory developments worldwide.