Richard Teng, Chief Executive Officer of Binance, announced that the company’s user base has surpassed 280 million. This development comes as regulatory clarity emerges in the United States, aiding in the mainstream adoption of cryptocurrency worldwide. Teng made this statement during an interview with Fox News.
“We are the largest crypto exchange globally and the largest ecosystem, serving more than 280 million customers globally,” said Teng. “It’s extremely convenient, it’s cost-efficient, it’s secure, and it’s very, very effective for the local merchants as well. The path to clear regulation is now finally emerging, giving room for players like ourselves to understand what a framework that we have to operate in. We have traded more than $125 trillion on our platform over the course of the past eight years.”
Throughout 2024 and 2025, the United States implemented significant changes to cryptocurrency regulations, including the GENIUS and CLARITY Acts and new guidance from the Securities and Exchange Commission (SEC) on crypto exchange-traded funds (ETFs). According to the Financial Times, these changes indicate a shift towards clearer oversight and increased institutional investment. The U.S. is now positioned as a potential global hub for cryptocurrency, prompting regulatory updates in regions such as the European Union and India.
According to AInvest and Coinlaw, Binance had over 250 million registered users by July 2025 and handled more than $3.44 trillion in spot trading volume. This growth underscores its status as the world’s leading crypto exchange by trading activity.
Reports from Triple-A and Chainalysis indicate that global crypto adoption reached 562 million users by late 2024, representing about 6.8% of the global population. This marks a 34% increase year-over-year, with projections suggesting user penetration will exceed 8% by 2025 as both emerging and developed markets enhance usage amid improving regulatory clarity.
Wikipedia and Binance state that Richard Teng assumed his role as CEO of Binance in November 2023 after holding positions at Abu Dhabi Global Market, Singapore Exchange, and the Monetary Authority of Singapore. He brings three decades of financial regulatory and leadership experience to his current position in shaping cryptocurrency policy.
Binance was founded in 2017 by Changpeng Zhao and Yi He. It operates in over 180 countries offering services ranging from trading to non-fungible tokens (NFTs), without a central headquarters. This makes it the largest crypto exchange globally by daily trading volume and user base.
