Blockchain technology and cryptocurrency have become focal points for global institutional investors. Binance, the industry leader, has even expanded into media—but how does this influence public perception? Here are four essential insights into Binance, the world's largest virtual currency platform.
1. Binance's Founding and Global Presence
Founded in 2017 by CEO Changpeng Zhao (CZ) and co-founder Yi He, Binance originated in China but swiftly relocated its headquarters to Japan following China's cryptocurrency trading ban later that year. Due to Japan's stringent regulations, Binance later planned to establish operations in Malta.
Interestingly, Binance operates without a traditional headquarters despite its massive scale—over 3,000 employees and daily trading volumes exceeding billions of USD. CZ explains this unconventional approach: "We embraced decentralization from the start—no headquarters, global teams, and borderless operations."
👉 Discover how Binance revolutionized crypto trading
2. Dominance in Trading Volume
Binance's trading volume doubles that of its closest competitor, FTX (now defunct), solidifying its position as the market leader. Its infrastructure supports a vast ecosystem, including spot trading, futures, staking, and NFT marketplaces.
3. Decentralization: Core Philosophy
Decentralization eliminates traditional financial intermediaries (e.g., banks), empowering users to transact peer-to-peer. This mirrors the internet's democratization of content creation, where anyone can publish ideas freely. Binance champions this ethos while balancing regulatory compliance.
4. Strategic $200M Investment in Forbes
On February 10, 2022, Forbes announced a $200M strategic investment from Binance, making the latter its second-largest shareholder. This partnership aimed to merge Forbes with Magnum Opus, transitioning it into a NYSE-listed company (ticker: FRBS). The deal underscored Binance's ambition to shape media narratives around blockchain and finance.
👉 Explore Binance's latest ventures
FAQ
Q: Why does Binance have no headquarters?
A: It reflects its decentralized philosophy, allowing flexibility to adapt to global regulations.
Q: How does Binance compare to other exchanges?
A: Binance leads with twice the trading volume of competitors and offers a broader suite of services.
Q: What was Binance's motive for investing in Forbes?
A: To influence mainstream media coverage of cryptocurrency and blockchain innovation.