The last two years have been tumultuous for Binance, the world's largest cryptocurrency exchange, with regulatory challenges, substantial fines, and the arrest of its founder, CZ. Despite these hurdles, Binance has thrived. On Saturday, it announced that it had exceeded 200 million users, affirming its dominance in the crypto industry.

Binance's CEO, Richard Teng, attended the company's celebration and expressed gratitude to the community, acknowledging their crucial role in this achievement. He stated:

"We have reached 200 million users at Binance! This milestone would not have been possible without YOU – our amazing community … Thank you! The journey to 1 billion users continues. Let’s keep building together."

This success comes despite intense regulatory scrutiny since 2022 from countries including the UK, Singapore, and the US. Accusations of inadequate anti-money laundering practices and unregistered securities offerings have led to significant fines and operational restrictions. The situation escalated dramatically with news of CZ's arrest in China in early 2024, which raised concerns about the exchange's future.