Wikipedia (en)
Binance Holdings Ltd., branded Binance, is the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies. Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters. According to data from blockchain analytics company Arkham Intelligence, Binance is the largest crypto-holding entity in the world with over $200 billion in digital assets.
Binance has been the subject of lawsuits and challenges from regulatory authorities throughout its history, in particular over its involvement in money laundering. As a result, Binance has been banned from operating or ordered to cease operations in some countries, and has been issued fines. In 2021, Binance was put under investigation by both the United States Department of Justice and Internal Revenue Service on allegations of money laundering and tax offenses. The UK's Financial Conduct Authority ordered Binance to stop all regulated activity in the United Kingdom in June 2021. That same year, Binance shared client data, including names and addresses, with the Russian government.
In November 2023, the company pleaded guilty in a US federal court to money laundering, unlicensed money transmitting, and sanctions violations. In March 2025, Wall Street Journal uncovered that the company was in talks with the family of Donald Trump about business dealings. In August 2025, Wall Street Journal found that Binance was quietly administering a trading platform for the Trump family's World Liberty Financial. In October 2025, President Trump pardoned Binance founder Changpeng Zhao who had been convicted for enabling money laundering on Binance. Investigative journalists have uncovered how Binance continues to profit from money laundering for organized crime groups.
