Binance vs Coinbase: Founders, CEOs and History
Binance was founded in 2017 by Changpeng Zhao (CZ), Yi He and is led by Richard Teng. Coinbase was founded in 2012 by Brian Armstrong, Fred Ehrsam and is led by Brian Armstrong.
Company facts
Founders
Binance
Changpeng Zhao (CZ)
Changpeng Zhao founded Binance in 2017 after a BNB token sale that raised about $15 million.
Yi He
Yi He co-founded Binance with Changpeng Zhao in 2017 and became co-CEO alongside Richard Teng on December 3, 2025.
Coinbase
Brian Armstrong
Brian Armstrong co-founded Coinbase in 2012 after reading the Bitcoin whitepaper and concluding that buying and storing bitcoin was too hard for ordinary people.
Fred Ehrsam
Fred Ehrsam co-founded Coinbase with Brian Armstrong in 2012 and helped shape its early trading, banking and fundraising work. He stepped back from operations in January 2017 but has remained a member of Coinbase's board.
CEOs and their tenures
Binance
- Changpeng Zhao2017–2023
Founder & CEO
Zhao studied computer science at McGill University and built trading systems for the Tokyo Stock Exchange and Bloomberg Tradebook before crypto. He served four months in a US prison in 2024 and was pardoned on October 23, 2025.
Source - Richard Teng2023–present
CEO (Co-CEO since December 2025)
Teng spent three decades in financial regulation, including as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market, chief regulatory officer of Singapore Exchange and a director at the Monetary Authority of Singapore.
Source - Yi He2025–present
Co-Founder & Co-CEO
Before Binance she was a television host and a vice president at OKCoin, where she hired Changpeng Zhao as CTO in 2014.
Source
Coinbase
- Brian Armstrong2012–present
Co-Founder and Chief Executive Officer
Co-founded Coinbase in 2012 and has led it as CEO ever since, taking it from a Y Combinator bitcoin wallet to a Nasdaq-listed, S&P 500 crypto exchange and infrastructure company.
Source - Fred Ehrsam2012–2017
Co-Founder
Co-founded Coinbase in 2012 and brought trading experience from Goldman Sachs. He stepped back from operations in 2017, remains a Coinbase director, and co-founded crypto investor Paradigm in 2018.
Source - Emilie Choi2018–present
President and Chief Operating Officer
Joined Coinbase in 2018 to lead corporate and business development after senior roles at LinkedIn, and now oversees operations as President and COO.
- Alesia Haas2018–present
Chief Financial Officer
CFO since 2018, previously CFO of Sculptor Capital (Och-Ziff) and OneWest Bank; led the 2021 direct listing and capital management.
- Paul Grewal2020–present
Chief Legal Officer
Former U.S. magistrate judge and Facebook deputy general counsel who led Coinbase's defense in the SEC lawsuit.
Timeline: Binance and Coinbase side by side
2012Coinbase
Company Founded via Y Combinator
Brian Armstrong took Coinbase through Y Combinator's Summer 2012 batch and co-founded it with Fred Ehrsam. The service launched in October 2012, letting U.S. users buy bitcoin with a linked bank account, which few rivals offered at the time.
2013Binance
Changpeng Zhao is introduced to Bitcoin in Shanghai and joins Blockchain.info's early team.
2013Coinbase
Andreessen Horowitz Leads $25M Series B
Andreessen Horowitz led a $25 million Series B at a valuation of approximately $143 million, the largest crypto venture investment to date and a signal that mainstream Silicon Valley was taking cryptocurrency seriously.
2014Binance
CZ sells his Shanghai apartment to buy Bitcoin and becomes CTO of OKCoin, hired by Yi He.
2015Coinbase
Receives New York BitLicense
Coinbase was among the first companies granted New York's BitLicense, the state's crypto-specific regulatory framework. The approval reinforced its compliance-first positioning in the U.S. market.
2017Binance
Binance raises about $15 million in a BNB token sale and launches on July 14; China's September ban pushes it offshore.
2017Coinbase
Surpasses 10 Million Users
Coinbase crossed 10 million users in 2017 as bitcoin approached $20,000, and its app reached the top of Apple's U.S. App Store in December 2017. Rapid growth also strained the platform, leading to outages and support backlogs.
2018Binance
Binance becomes the largest crypto exchange by volume in January and acquires Trust Wallet in July.
2018Coinbase
Launches Coinbase Custody for Institutions
Coinbase launched Coinbase Custody, a regulated institutional-grade custody product designed to meet the fiduciary requirements of hedge funds, family offices, and eventually public pension funds.
2019Binance
Hackers steal 7,000 BTC in May, covered by the SAFU fund; Binance Futures and the separate Binance.US launch in September.
2020Binance
Binance buys CoinMarketCap for a reported $400 million and launches Binance Smart Chain, now BNB Chain.
2021Binance
Binance handles about $7.7 trillion of trading as BNB passes $600; the UK FCA orders it to halt regulated activity.
2021Coinbase
Nasdaq Direct Listing
Coinbase listed on Nasdaq through a direct listing on April 14, 2021. Shares opened at $381 against a $250 reference price and the company ended its first day valued at about $86 billion, making it the first major U.S. crypto exchange to go public.
2021Coinbase
Reports Record $7.8B Revenue and $3.6B Net Income
Fiscal year 2021 produced Coinbase's strongest financial results in its history, with net revenue of $7.8 billion and net income of $3.6 billion driven by a retail crypto buying wave and Bitcoin prices reaching $69,000.
2022Binance
Binance walks away from rescuing FTX, publishes Merkle-tree proof of reserves and buys Japan's Sakura Exchange BitCoin.
2022Coinbase
Navigates Industry Crisis; Workforce Reduction
The Terra/Luna and FTX collapses and a deep crypto bear market cut Coinbase's revenue from $7.84 billion in 2021 to about $3.19 billion in 2022.
2023Binance
Binance pleads guilty in the US and agrees to pay about $4.3 billion; CZ steps down and Richard Teng becomes CEO.
2023Coinbase
Launches Base Layer 2 Blockchain
Coinbase opened Base, an Ethereum layer-2 network built on Optimism's OP Stack, to the public in August 2023.
2023Coinbase
SEC Files Lawsuit Against Coinbase
The SEC sued Coinbase in June 2023, alleging it operated as an unregistered exchange, broker and clearing agency and that its staking program was an unregistered security. Coinbase contested the case, and in February 2025 the SEC agreed to dismiss it.
2024Binance
CZ serves a four-month US prison sentence; Binance ends the year with about 250 million registered users.
2024Coinbase
Bitcoin Spot ETFs Approved; Coinbase Named Primary Custodian
The SEC approved U.S. spot Bitcoin ETFs in January 2024, and Coinbase was named custodian for eight of the eleven initial funds, including BlackRock's iShares Bitcoin Trust.
2024Coinbase
Reports $6.56B Revenue and $2.58B Net Income
FY2024 total revenue was $6.56 billion, roughly double FY2023's $3.11 billion, with net income of about $2.58 billion. ETF-driven trading, higher crypto prices and stablecoin income all contributed.
2025Binance
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).
2025Coinbase
Joins the S&P 500
Coinbase was added to the S&P 500 in May 2025, replacing Discover Financial and becoming the first crypto-native company in the index.
2025Coinbase
Completes $2.9B Deribit Acquisition
Coinbase closed its acquisition of Deribit, the largest crypto options exchange, in August 2025 for about $2.9 billion in cash and stock. FY2025 revenue reached $7.18 billion and net income $1.26 billion.
2026Binance
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).
2026Coinbase
Cuts 14% of Staff Amid Crypto Slump
After a $394 million net loss in Q1 2026, Coinbase announced in May 2026 that it would cut about 700 jobs, roughly 14% of its workforce, citing market volatility and AI-driven changes to how it works.
Acquisitions
Binance
- Sakura Exchange BitCoin (SEBC)2022Undisclosed
- CoinMarketCap2020$400M
- Swipe2020Undisclosed
- Trust Wallet2018Undisclosed
Coinbase
- Deribit2025$2.9B
- Echo2025Undisclosed
- One River Digital Asset Management2023Undisclosed
- FairX2022Undisclosed
- Bison Trails2021Undisclosed
- Tagomi2020Undisclosed
Questions about Binance vs Coinbase
Who is the CEO of Binance and Coinbase Global?
Binance is led by Richard Teng and Coinbase Global is led by Brian Armstrong. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Binance founded vs Coinbase Global?
Coinbase Global was founded in 2012 — 5 years before Binance, which was founded in 2017. Coinbase Global's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Binance.
How many employees does Binance have compared to Coinbase Global?
Binance employs approximately 5,000 people, while Coinbase Global employs approximately 4,951. Binance has the larger workforce at 5,000 employees, compared to Coinbase Global's 4,951. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Binance and Coinbase Global headquartered?
Binance is headquartered in Cayman Islands and Coinbase Global is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Binance and Coinbase Global?
Binance was founded by Changpeng Zhao (CZ), Yi He. Coinbase Global was founded by Brian Armstrong, Fred Ehrsam.
Which company has a longer operating history — Binance or Coinbase Global?
Coinbase Global has been operating for approximately 14 years, making it the more established of the two companies. Binance has been in operation for around 9 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Binance vs Coinbase overview