Binance
Company History
Binance History: Founding, Growth & Key Milestones
Founded 2017 in Shanghai, China
When was Binance founded?
Binance was founded in 2017 in Shanghai, China by Changpeng Zhao (CZ) and Yi He, making it 9 years old.
- Founded
- 2017
- Founding place
- Shanghai, China
- Founders
- Changpeng Zhao (CZ) and Yi He
- Headquarters today
- George Town, Grand Cayman, Cayman Islands
- Milestones documented
- 12 (2013–2026)
- Current CEO
- Richard Teng
- Acquisitions
- 4
| Year | Event |
|---|---|
| 2013 | CZ discovers Bitcoin |
| 2014 | CZ joins OKCoin |
| 2017 | Token sale and launch |
| 2018 | Largest exchange by volume |
| 2019 | Hack, futures and Binance.US |
| 2020 | CoinMarketCap and Binance Smart Chain |
| 2021 | $7.7 trillion year |
| 2022 | FTX collapse and proof of reserves |
| 2023 | US plea and new CEO |
| 2024 | CZ's prison term |
| 2025 | MGX stake, pardon and co-CEO |
| 2026 | ADGM licence, stocks and EU exit |
- Where was Binance founded?
- Binance was founded in Shanghai, China in 2017.
- Who founded Binance?
- Binance was founded by Changpeng Zhao (CZ) and Yi He.
- When did Binance start?
- Binance was founded in 2017.
- How old is Binance?
- Binance is 9 years old as of 2026.
Founding Story
Changpeng Zhao spent the 2000s building trading software, from an order-matching system for the Tokyo Stock Exchange to futures tools at Bloomberg Tradebook and his own Shanghai firm, Fusion Systems. He discovered Bitcoin in 2013, joined Blockchain.info and in 2014 became CTO of OKCoin, where Yi He had hired him. In mid-2017 the two raised about $15 million by selling BNB tokens and launched Binance on July 14. In September China banned token sales and domestic exchanges, so Binance moved its operations to Japan and then, after a warning from Japan's regulator in March 2018, announced Malta. It never settled on one home again until its 2026 ADGM licence.
Founders
Changpeng Zhao (CZ)
Changpeng Zhao founded Binance in 2017 after a BNB token sale that raised about $15 million. Drawing on years of building trading systems, he designed the exchange for speed and a broad coin list, and within about six months it was the world's largest crypto exchange by volume. He ran it with no fixed headquarters, added futures, BNB Chain, Trust Wallet and CoinMarketCap, and kept Binance at the top through the 2022 collapse of rival FTX. That borderless approach also drew regulators: in November 2023 Zhao pleaded guilty to failing to maintain an effective anti-money-laundering program, stepped down as CEO and paid a $50 million fine. He served four months in a US prison in 2024 and was pardoned by President Trump in October 2025. He remains Binance's largest shareholder, with a stake Forbes estimated at about 90% in March 2026. Changpeng Zhao (CZ) was born in 1977. Education: McGill University School of Computer Science.
Yi He
Yi He co-founded Binance with Changpeng Zhao in 2017 and became co-CEO alongside Richard Teng on December 3, 2025. For most of Binance's history she ran the parts users see: marketing, brand, community and customer service, as the exchange grew from launch to more than 300 million registered users. She also led Binance Labs, the venture arm that backed early-stage crypto projects, until it was renamed YZi Labs in January 2025 and became a family office for her and Zhao. In 2026 she became the first crypto-native executive on Fortune's Most Powerful Women in Business list. Yi He was born in 1986.
Key Milestones
CZ discovers Bitcoin
Changpeng Zhao is introduced to Bitcoin in Shanghai and joins Blockchain.info's early team.
Source: en.wikipedia.orgCZ joins OKCoin
CZ sells his Shanghai apartment to buy Bitcoin and becomes CTO of OKCoin, hired by Yi He.
Source: en.wikipedia.orgToken sale and launch
Binance raises about $15 million in a BNB token sale and launches on July 14; China's September ban pushes it offshore.
Source: en.wikipedia.orgLargest exchange by volume
Binance becomes the largest crypto exchange by volume in January and acquires Trust Wallet in July.
Source: en.wikipedia.orgHack, futures and Binance.US
Hackers steal 7,000 BTC in May, covered by the SAFU fund; Binance Futures and the separate Binance.US launch in September.
Source: en.wikipedia.orgCoinMarketCap and Binance Smart Chain
Binance buys CoinMarketCap for a reported $400 million and launches Binance Smart Chain, now BNB Chain.
Source: en.wikipedia.org$7.7 trillion year
Binance handles about $7.7 trillion of trading as BNB passes $600; the UK FCA orders it to halt regulated activity.
Source: en.wikipedia.orgFTX collapse and proof of reserves
Binance walks away from rescuing FTX, publishes Merkle-tree proof of reserves and buys Japan's Sakura Exchange BitCoin.
Source: en.wikipedia.orgUS plea and new CEO
Binance pleads guilty in the US and agrees to pay about $4.3 billion; CZ steps down and Richard Teng becomes CEO.
Source: en.wikipedia.orgCZ's prison term
CZ serves a four-month US prison sentence; Binance ends the year with about 250 million registered users.
Source: en.wikipedia.orgMGX stake, pardon and co-CEO
MGX invests $2 billion (March), the SEC drops its case (May), Trump pardons CZ (October) and Yi He becomes co-CEO as users pass 300 million (December).
Source: binance.comADGM licence, stocks and EU exit
The main platform starts operating under ADGM supervision (January), US stock trading launches (June) and most EU services are suspended after the MiCA deadline (July).
Source: crypto.newsMajor Acquisitions
CoinMarketCap
2020Bought the world's most-visited crypto price-tracking site to own a major source of crypto traffic and data.
Trust Wallet
2018Added a self-custody multi-chain mobile wallet, paid for with a mix of cash, Binance shares and BNB.
Swipe
2020Acquired a crypto debit card and wallet company to let users spend crypto at merchants.
Sakura Exchange BitCoin (SEBC)
2022Bought a crypto exchange registered with Japan's Financial Services Agency to re-enter the Japanese market.
Keep researching Binance
Binance Company History FAQ
What are the major eras in Binance's history?
The 2017 token sale and rise to the top within six months; expansion into futures, BNB Chain, Trust Wallet and CoinMarketCap (2018 to 2021); the FTX collapse and proof of reserves (2022); the US plea and CEO change (2023); and since 2025 an Abu Dhabi investor and licence, CZ's pardon, a co-CEO structure and the move into stocks.
How did Binance become the world's largest crypto exchange in just 180 days?
Launched in July 2017, Binance reached the #1 spot globally by January 2018 by offering multi-language support, lightning-fast coin listings, zero deposit fees, 50% BNB fee discounts, and maintaining uninterrupted uptime during the historic 2017 Bitcoin retail bull run.
How did Binance handle the 7,000 Bitcoin hack in May 2019?
Hackers stole 7,000 BTC, worth about $40 million at the time, using phishing, viruses and stolen API keys. Binance paused deposits and withdrawals for about a week and covered the loss from its Secure Asset Fund for Users (SAFU), so customers did not lose funds.
When was Binance Smart Chain (now BNB Chain) launched and why was it significant?
Binance launched Binance Smart Chain (BSC) in September 2020. Providing an EVM-compatible blockchain with near-zero gas fees, BSC ignited the 2020 to 2021 DeFi boom, powering decentralized exchanges like PancakeSwap and attracting millions of daily active users.
How did Binance navigate global regulatory enforcement actions in 2021 to 2023?
Facing scrutiny from regulators in the US, UK, Germany, and Japan, Binance phased out high leverage (reducing max futures leverage from 125x to 20x), instituted mandatory tier-one KYC identity verification for 100% of users, and shut down unauthorized derivatives offerings.
What was the landmark significance of November 21, 2023, in Binance history?
On November 21, 2023, Binance resolved comprehensive multi-year US federal investigations by agreeing to a $4.3 billion settlement, installing independent compliance monitors, transitioning the CEO role to Richard Teng, and establishing a new corporate governance model.
When did Binance reach 300 million registered users?
Binance passed 200 million registered users in 2024, about 250 million by the end of that year and 300 million in December 2025. It reported more than 323 million at its ninth anniversary in July 2026.
What is Binance's long-term goal?
At its ninth anniversary in July 2026 Binance said it wants to reach three billion users by becoming a multi-asset financial app that combines crypto, stocks, tokenized assets and payments in one account.
When was Binance founded?
Binance was founded in July 2017 in China by Changpeng Zhao (CZ), who famously funded the launch by executing a massive $15 million Initial Coin Offering (ICO) of the BNB token.
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