In 2022, the user base of the Binance cryptocurrency exchange exceeded 120 million people, and its team has grown to 7,500 employees. About this in an open letter told CEO Changpeng Zhao.
According to him, the platform pays special attention to compliance with regulatory requirements. At the end of the year, Binance received licenses to operate in 14 countries, including Kazakhstan, Italy and France.
The company’s compliance team has grown from 500 to 750 people. For 12 months, the exchange has processed more than 47,000 requests from law enforcement agencies.
Zhao noted that the platform’s strategy allows it to actively expand business even against the backdrop of a bearish cycle. This also applies to the field of venture investments – in 2022, Binance Labs invested more than $500 million in various Web3 projects.
The head of the company added that as part of the Binance Charity initiative, she donated over $20 million to non-profit organizations.
He also emphasized that, despite a difficult year, the cryptocurrency industry has made significant progress in aspects such as compliance and retail adoption of payments with digital assets.
According to Zhao, it will take “a long time” for the industry to recover from the collapse of FTX. The head of Binance said that companies in the sector need to focus on protecting users, introducing technology into everyday life, and developing innovative products.
Recall that Binance has become one of the main beneficiaries of the crisis that erupted in 2022. Against the background of the collapse of the business empire of Sam Bankman-Fried, the stock exchange has significantly strengthened its position.
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