The longest cryptocurrency exchange Binance recently celebrated its sixth anniversary. The platform, which started as a crypto-to-crypto exchange with 5 tokens in 2 languages, now supports more than 600 tokens in more than 40 languages ​​and serves more than 140 million users worldwide.

The company launched six years ago after raising the equivalent of $15 million in cryptocurrency. Despite initial challenges, including the ban on crypto exchanges and ICOs in China in September 2017, Binance has grown significantly. The company’s commitment to protecting its users was demonstrated when it used $6 million of its own funds to compensate users affected by the ban, which represented more than 40% of its treasury at the time.

Binance’s growth has not been without its challenges. In 2019, the company faced increased regulatory scrutiny, which led to the establishment of Binance.US to serve the US market on a fully regulated basis. Today, Binance.US has 43 state money transmitter licenses. Globally, Binance is licensed and registered in 17 countries, highlighting its commitment to compliance and regulation.

The company also weathered two “crypto winters” – market downturns in 2018 and 2022. Despite these downturns, Binance continued to innovate, launching Binance Launchpad in January 2019 and maintaining prudent financial management to sustain market fluctuations.

Looking ahead, Binance sees traditional financial institutions like BlackRock, Citadel, and Fidelity entering the crypto space as validation from the industry. The company also anticipates continued growth in DeFi and hopes that regulatory clarity for the crypto industry will improve.