About

Binance Holdings Ltd., also referred to as Binance, is the largest exchange in the world offering a platform for selling and buying cryptocurrency for the traders and users. The company is found by Changpeng Zhao (CZ) and Yi He in China in 2017. Soon after its establishment, Binance grows quickly and launches two cryptocurrencies, including Binance Coin (BNB), and BinanceUSD (BUSD). In 2023, Binance and CZ are under investigation by many governments, such as US, Canada, and Australia.

Key events

Under investigation

• Nov 22 2023:Binance’s Founder Zhao Resigns and Admits Violating U.S. Anti-Money Laundering Laws, company to Pay $4.3 Billion.
• Jul 5 2023: Binance office in Australia is searched by the Australian Securities & Investments Commission (ASIC).
• Jun 23 2023: Binance orderes to stop all digital currency services in Belgium.
• Jun 16 2023: Binance under investigation in France for ‘Aggravated’ Money Laundering.
• Jun 9 2023: Binance’s activities in Nigeria are limited as illegal by Nigeria Securities and Exchange Commission (SEC).
• Jun 5 2023: Binance and founder Zhao is sued by US SEC due to ‘web of deception’.
• May 12 2023: Binance announces exit from Canada, citing regulatory tensions.
• May 5 2023: US Justice Department investigates Binance for violating Russian sanctions.
• Mar 28 2023: U.S. Appeal Halts Binance.US From Buying Voyager Crypto Accounts.
• Mar 27 2023: CFTC Charges Binance and Its Founder, Changpeng Zhao, with Willful Evasion of Federal Law and Operating an Illegal Digital Asset Derivatives Exchange.

Business expansion and product development

• Mar 1 2023: Binance invests in Venture Fund Nomad Capital.
• Oct 17 2022: BNB Chain responds with next steps for cross-chain security after network exploit.
• Feb 15 2022: Binance launches the BNB Chain, the name they’re using for the now merged Binance Chain and Binance Smart Chain ecosystem.
• Feb 10 2022: Binance announces its plan to spend $200 million to buy a minority stake in Forbes via a SPAC transaction.
• Dec 31 2021: Binance shuts down Chinese Yuan and OTC trades for Chinese Users.
• Dec 21 2021: Binance adds BNB Auto-Burn, which changes the quarterly burn mechanics and will halt once the circulating supply of BNB drops below 100 million.
• Oct 25 2021: Binance adds another deflationary mechanic to BNB in the form of update BEP-95 to the BSC.
• May 13 2021: Binance is under investigation by both the Internal Revenue Service and the United States Department of Justice on allegations of money laundering and tax offenses.
• Oct 29 2020: Forbes alleges that Binance is intentionally creating a business structure to mislead US regulators.
• Sep 1 2020: Binance launches The Binance Smart Chain (BSC), which merge from Binance Coin (BNB).
• Jul 3 2020: Binance’s new blockchain research institute in China has forged a strategic partnership with a state-level supply-chain innovator to jointly develop digital infrastructure for small and medium enterprises (SMEs) in the country.
• Feb 21 2020: Malta Financial Services Authority (MFSA) issues a public statement responding to media reports referring to Binance as a ‘Malta-based’ cryptocurrency company.
• Dec 2 2019：Binance acquires Beijing-Based Blockchain Data Startup DappReview to further develop its existing dapps.
• Oct 15 2019: Binance partners with Amun to launch BNB ETP on Swiss SIX Exchange.
• Sep 17 2019: Binance makes an undisclosed investment in Chinese media and data source Mars Finance.
• Sep 5 2019: Binance launches Binance USD (BUSD), a USD-backed stablecoin.
• Sep 2 2019: Binance acquires Crypto Exchange JEX to boost derivatives offerings.
• Jun 17 2019: Binance issues BTC-pegged token BNB Chain.
• Jun 4 2019: Trust Wallet integrates Binance DEX trading.
• May 7 2019: Binance is attacked by hackers and losses 7000 Bitcoin worth around United States $40 million.
• May 1 2019: Binance Podcast launches. This new podcast series provides a new avenue for public information about the latest trends and movements in the blockchain universe, as well as Binance’s role in it.
• Apr 23 2019: Binance DEX (Decentralized Exchange) launches on its native blockchain, BNB Chain, to empower community growth and foster the industry’s long-term vision of peer-to-peer trading.
• Mar 20 2019: Binance launches Cash-to-Crypto Service in Australia.
• Jan 30 2019: Binance announces that it had partnered with Israel-based payment processor Simplex to enable cryptocurrency purchases with debit and credit cards, including Visa and Mastercard.
• Jan 15 2019: Binance expands to European markets, launches Binance Jersey.
• Aug 29 2018: Binance along with three other big exchanges raises $32 million for a stablecoin project.
• Jul 31 2018: Binance acquires Trust Wallet, a secure and intuitive mobile wallet.
• Jun 15 2018: Binance and three other firms raise $65 million for sports blockchain company Chiliz.
• Apr 27 2018: Binance signs a memorandum of understanding with the government of Bermuda.

Establishment and offices

• Nov 21 2023:Richard Teng, who has held regulatory positions and currently serves as head of regional markets, will take over as Binance’s CEO.
• Mar 23 2018: Binance announces its intentions to open an office in Malta after stricter regulations in Japan and China.
• Jan 11 2018: Binance becomes the World’s Top-Ranked Crypto Exchange, adds 240,000 Users in One Hour.
• Sep 2017: Binance moves its servers and headquarters out of China in advance of the Chinese government ban on cryptocurrency.
• Jul 2017: Changpeng Zhao (CZ) and Yi He found Binance exchange in China, the CEO and CMO of the company. At the same time, launch the- Binance Coin (BNB).