Following a settlement in November, Binance exchange CEO CZ stepped down, passing the reins to Richard, who recently posted a blog entry with some optimistic remarks. A significant positive development for 2024 is the resolution of major issues between Binance and the U.S., which has favorably impacted the entire crypto market.
In his year-end review, CEO Richard expressed optimism about the settlement with the U.S. and the positive outlook investors now have for the coming year, a stark contrast to the previous market negativity fueled by news of investigations and potential lawsuits.
Richard highlighted Binance’s commitment to compliance and user-focus, stating that regulatory clouds in the U.S. have cleared and that the exchange has the culture, talent, and expertise to be truly compliance-focused.
The CEO pointed to the exchange’s recent performance as evidence of user trust and approval, noting strong net inflows and a steady increase in new users following the U.S. decisions, with registered users surpassing 170 million by the end of December, a 30% increase from the previous year.
Richard also touched on Binance’s initiatives in the Web3 space throughout the year and mentioned the growth of the SAFU customer protection fund to $1.2 billion. He expressed confidence in Binance’s strong financial position and the trust of its expanding global community, built for decades of operation.
Looking forward, Richard reaffirmed Binance’s commitment to three key groups: users, global regulators, and expanding industry partnerships. He expressed eagerness to achieve more with the community in 2024 and beyond.