What Is Binance?
Binance is the world’s largest cryptocurrency exchange by daily trading volume. It offers a wide range of crypto services—from buying and selling digital coins to learning about crypto and supporting new blockchain projects.
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Who Started Binance and When?
Binance was launched in July 2017 by two visionaries: Changpeng Zhao (CZ) and Yi He. Zhao previously built high-frequency trading systems, while Yi led business development and marketing.
What Does Binance Offer?
- Binance Exchange – for trading cryptocurrencies
- Binance Labs—the accelerator and investment arm for Web3 startups
- Binance Research – offering deep market analysis and reports
- Binance Academy – a free learning hub for crypto education
- Binance NFT – a platform for digital collectibles
- Binance Charity – supporting charitable causes via blockchain
- Binance Square—a media hub for Web3 news and trends.
What Is Binance Coin (BNB)?
BNB is Binance’s native cryptocurrency. It started as an ERC-20 token on Ethereum but later became the main token for Binance’s own blockchain, BNB Chain. Users can use BNB to pay lower trading fees and access many services on Binance.
How Safe Is Binance?
Binance invests in security. It uses features like two-factor authentication, anti-phishing codes, and a safety fund named SAFU to protect user funds. Still, it has faced regulatory problems and security events in the past—for example, a data breach in 2019 and legal issues in some countries.
Recent Actions: Building Trust
Binance is making moves to rebuild trust after past issues. For instance, it partnered with BBVA, a Spanish bank, to allow customers to store their crypto assets safely off the exchange.
Recent legal developments also bring comfort: The SEC dropped its lawsuit against Binance in May 2025, ending a two-year legal battle.
Big Investment from MGX
In a major show of support, MGX, a Saudi-linked investment firm, invested approximately $2 billion into Binance using a USD-pegged stablecoin. This is the largest institutional investment in a digital asset company to date and highlights Binance’s role in the future of crypto.
Market Trends from Binance
According to Binance Research, the crypto market showed modest growth in early 2025: after a drop of about 18% in Q1, it rebounded 25% in Q2. Total market cap rose nearly 2% for the first half of the year.
In July 2025, the crypto market rose 13.3%, with Bitcoin reaching new highs and stablecoins gaining traction as payment tools.
Why Binance Matters
- Easy access to global crypto trading—with a simple interface for beginners and advanced tools for pros
- Wide ecosystem—covering learning, investing, NFTs, innovation, and social good
- Community trust efforts—through banking partnerships and settling legal challenges
- Strong market insight—through regular updates and in-depth research reports
FAQs
What is Binance?
Binance is the largest cryptocurrency exchange in the world by trading volume. It also includes services like Binance Labs, Academy, NFT, Research, Charity, and more.
Who founded Binance?
It was founded in July 2017 by Changpeng Zhao (CZ) and Yi He.
What is BNB (Binance Coin)?
BNB is Binance’s own cryptocurrency used for reduced trading fees and other services. It started on Ethereum and now powers Binance’s own blockchain, BNB Chain.
Is Binance safe?
Binance offers strong security features and a safety fund, but it has faced some security breaches and regulatory issues. Recently, Binance has taken steps to rebuild trust, including a partnership with BBVA and resolving legal cases.
What recent investments has Binance received?
In 2025, MGX invested $2 billion in Binance using a stablecoin backed by U.S. dollars. It was the largest institutional investment ever in a crypto firm.
Has Binance resolved its legal issues?
Yes. The U.S. SEC dropped its lawsuit against Binance in May 2025, marking the end of a major legal fight.