On July 14, 2026, the world's largest cryptocurrency exchange celebrated its ninth anniversary. Exactly 9 years ago, in 2017, Changpeng Zhao (CZ) launched a platform that was destined to radically change the landscape of digital finance. During this time, Binance has gone from a startup with a $15 million ICO to a financial giant whose turnover exceeds the annual GDP of the entire planet.
From "Binary Finance" to Global Leadership
The name Binance is an abbreviation of Binary Finance, which emphasizes the project's initial technological focus. The platform was created exclusively for cryptocurrency operations, without support for fiat money. By January 2018, just six months after its launch, the exchange had become the world leader in daily trading volume. At its peak, in the fall of 2022, its share of the spot crypto market reached 62%.
The Founder's Journey: From McDonald's to Billionaire
CZ's story is a classic example of success. As a teenager in Vancouver, he fried burgers at McDonald's and worked night shifts at a gas station to help his family. Later, he developed order matching systems for the Tokyo Stock Exchange and software for futures trading at Bloomberg Tradebook. In 2014, having radically believed in cryptocurrencies, Zhao sold his apartment in Shanghai for approximately $900,000 and invested everything in Bitcoin at an average price of around $600.
Exodus from China and the Birth of SAFU
Just two months after the launch, in September 2017, China banned ICOs and crypto exchanges. The team had to urgently evacuate servers and personnel from the country. Since then, Binance has not disclosed the location of its headquarters for years, and CZ led the life of a "digital nomad." Today, according to Forbes, the private company's base is in the UAE.
The phrase "Funds are SAFU," which CZ regularly repeated to users, turned into a meme in 2018, and then into a real financial product — the Secure Asset Fund for Users (SAFU). The fund is replenished with 10% of all trading fees. By January 2022, its volume reached $1 billion. When hackers withdrew over 7,000 BTC worth more than $40 million from the exchange in May 2019, user losses were fully covered by SAFU.
Largest Fine and Pardon
In 2023, Binance admitted to violating US sanctions, laundering about $898 million through more than 1.5 million illegal transactions. The $4.3 billion fine became one of the largest in US history for companies. CZ pleaded guilty to failing to build an anti-money laundering system, paid a personal fine of $50 million, and spent four months in prison. In October 2025, he received a pardon from US President Donald Trump.
An Empire That Outgrew the Crypto Exchange
Despite stepping down as CEO, Zhao is estimated to still own about 90% of Binance. Forbes estimates the company's market value at approximately $100 billion. In the Forbes 2026 ranking, CZ's wealth grew to $108 billion — 18th place in the world, ahead of Bill Gates (20th place). Zhao himself disagreed with the valuation, noting that cryptocurrencies have fallen by more than 50% since the beginning of 2026, and urged the compilers of the ranking to "apply common sense and elementary logic."
Astonishing Numbers
Over 9 years, Binance has accumulated over 320 million users in 180 countries, and client assets on the platform have exceeded $128 billion. The company's revenue for 2024 was $16.8 billion. The total trading turnover over the entire operating period is estimated by the exchange at $156.4 trillion — an amount exceeding the annual GDP of the entire global economy.
Expanding Beyond the Crypto World
In 2025, the platform added trading of over 7,000 US stocks and ETFs, including tokenized bStocks. The volume of such assets under management exceeded $1 billion in the first month alone. The company is evolving towards a "one-stop shop" for all finances. The target audience is stated to be 3 billion people.
Analyst's Comment: The nine-year history of Binance is not just the success of one company, but a mirror of the evolution of the entire crypto industry. From complete decentralization and anonymity to integration with traditional finance and intense regulatory pressure. It is telling that even after record fines and a change in leadership, the platform not only maintains its leadership but also expands its influence. The current course towards turning into a universal financial super-app is likely the only path for survival in an environment of tightening regulation. The question is whether Binance can maintain a balance between the innovative speed of the crypto world and the demands of the traditional financial system.