It was a banner year for Binance in 2024. For 2024, the company reported new record highs in transaction volumes and assets under custody. Binance also experienced rapid user growth, particularly during the latter six months of the year. Most significantly, however, was Binance’s hitting of a new user milestone: as of the end of 2024, Binance had a reported 250 million active users. In a recent Binance Square post, Binance CMO Rachel Conlan showcased the company hitting 250M users as a stepping stone to the next goal of 1B users, “What a milestone to close 2024; a quarter of a billion registered users! This achievement reflects the strength of our community and the strides we’ve made this year. One step closer to onboarding 1 billion users – 2025, here we come!”

But beyond just conveying Binance’s status as the world’s leading cryptocurrency institution, another key takeaway from these announced results pertains more directly to the crypto industry at large. Namely, that far from still being just a niche area of the financial world, crypto has become a major segment in its own right. With this, new challenges and opportunities will emerge.

However, this may prove most beneficial to Binance, which in line with current top status in the industry, stands to spearhead the resolution of key industry issues, and benefit from ongoing and upcoming tailwinds.

Crushing it in User, Transaction, and Asset Growth

As detailed in Binance’s 2024 end-of-year report, the company touted how, by year’s end, it had hit the 250 million active user mark. However, this stat alone doesn’t fully convey how much of a cryptocurrency powerhouse Binance has become.

Rather, one must look to other stats to truly appreciate the extent in which Binance has “knocked it out of the park” over the past year. For instance, if you think hitting 250 million active users is impressive, consider the fact that Binance’s user base increased by 50% during the latter half of last year.

Not only that, consider how Binance achieved not just a high level of retail user growth, but institutional user growth as well. The number of active institutional users increased by nearly 100% last year. 

With such impressive retail and institutional growth, it’s no surprise that Binance also crushed it in terms of transaction volume ($100 trillion) and assets under custody ($160 billion), not to mention in terms of crypto payments and decentralized finance (or DeFi). Last year, Binance Pay experienced a 226% increase in active users, while Binance Earn, one of the company’s top DeFi products, reported a 144% increase in total value locked (TVL).

Binance had such a big year that their BTC trading volumes were higher than the other top 14 exchanges combined from Jan – Nov 2024.

A Leader in Security and Compliance as Well

Again, the aforementioned stats clearly demonstrate that Binance is a leader in the crypto space, but with this leading position comes a high degree of responsibility. However, in this regard, the company has also delivered, as seen in areas such as security and compliance.

Binance has distinguished itself as a proactive leader in establishing and implementing best practices. Going beyond just providing boilerplate security and compliance, Binance has been a leader in educating and informing its users, and the crypto community at large, about how to navigate and mitigate major security threats within the space. 

In terms of Binance’s security and compliance apparatus, the company once again shows that it is a leader. Last year, the company’s dedicated team of 650 security experts helped to prevent $4.2 billion in potential user losses. Not only that, they recovered $88 million in stolen funds.

Binance’s security team has also been a standout, in helping to equip law enforcement agencies with the knowledge and tools needed to combat crypto-related crime. During 2024, the company responded to 65,000 requests, and trained over 1,300 investigators in 80 countries. 

In 2025 and Beyond, the Future Shines Bright for Binance

After an incredible 2024, don’t expect Binance to rest on its laurels. Ever the leader, expect the company to continue driving new innovations, further user and transaction growth, and further enhancements to security and compliance best practices.

As favorable factors such as rising institutional adoption persist, expect Binance to continue benefiting, in areas like user growth, transaction growth, as well as assets under custody growth. While not mentioned earlier, it should be noted that product innovations played a part in Binance’s growth last year.

For instance, the launch of products like BNSOL and on-chain yield. In 2025 and beyond, bullish crypto trends, combined with Binance’s knack for innovation, point to a continued bright future for this top cryptocurrency institution.