Crazy crypto valuations? Binance is reportedly worth $300 billion 🚨 This article is 3 years old...
Crazy crypto valuations? Binance is reportedly worth $300 billion
Binance, if it was a publicly listed company, would be the 25th biggest company on earth.
2 min read
Updated: Nov. 16, 2021 at 9:49 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Binance is undoubtedly one of the largest crypto firms in the world. This was confirmed in a recent report by Wall Street Journal where insiders at the firm revealed that the CZ-led exchange could have a valuation of up to $300 billion placing it on par with popular companies like Adobe, Disney, and Netflix if it was a publicly listed company.
Binance facilitates more transactions than rival exchanges
According to the WSJ report, the estimated valuation of the company is based on the fees being generated by the exchange. For context, available data shows that the exchange processes more than $30 billion in daily spot trading and that it also processes close to $80 billion in daily derivatives trades.
To have a clearer understanding, the crypto exchange processed around $32 billion worth of transactions within the last 24 hours. Other exchanges in the top 5, cumulatively, were only able to process almost half of its daily transaction volume.
Company insiders think that if Binance were public, it could be worth up to $300 billion 🤯
Binance processes more crypto trades ($76 billion worth) than its four largest competitors put togetherhttps://t.co/BnnE8NWbaa@cz_binance
— Julian Klymochko (@JulianKlymochko) November 12, 2021
As tweeted by Julian Klymochko, the CEO of Accelerate FT, “company insiders think that if Binance were public, it could be worth up to $300 billion. Binance processes more crypto trades ($76 billion worth) than its four largest competitors put together”
Binance regulatory woes
For a firm this huge, one of its major albatrosses is the fact that regulators around the world have their eyes on how it does its businesses.
While the exchange currently has a staff strength of roughly 3000 people around the world, its lack of a physical headquarter has been haunting it as financial regulators in countries like Nigeria, China, Netherlands, United Kingdom, Singapore, South Africa, etc have advised their citizens against using the exchange.
In recent times, Binance, however, has been trying to maintain better relationships with regulators through several initiatives with one of them being its recent registration in Northern Ireland.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.