Binance is a centralized cryptocurrency exchange offering spot and margin trading, futures and options, cryptocurrency purchases, and Earn products. Its global platform is separate from Binance.US, and access depends on the user's country, verification status, and the product.
History and leadership
The exchange opened on July 14, 2017. Its founders include Changpeng Zhao and Yi He. Zhao resigned as CEO in November 2023, when Richard Teng took over. Binance appointed Yi He co-CEO alongside Teng in December 2025.
In November 2023, Binance Holdings Limited pleaded guilty to U.S. anti-money-laundering, money-transmitter registration, and sanctions offenses. The Justice Department resolution included approximately $4.3 billion in penalties and forfeiture and compliance-monitoring obligations.
Products and fees
Binance's website advertised more than 600 tradable cryptocurrencies as of November 7, 2026. The platform provides order-book trading, derivatives, OTC execution, Convert, copy trading, and trading bots. Binance Earn includes flexible and locked products, ETH and SOL staking, and other yield products with their own eligibility, redemption, and risk terms.
The published standard spot rate for regular users is 0.10% for makers and 0.10% for takers before discounts. Paying eligible fees in BNB reduces that rate to 0.075%. VIP tiers, trading pairs, promotions, derivatives, and card purchases can have different charges. Fiat payment options include bank transfers and supported card purchases, with currencies, providers, fees, and availability varying by country.
Operating entities and availability
Under the Terms of Use effective October 27, 2026, the global platform's service providers include three separate entities registered in Abu Dhabi, United Arab Emirates: Nest Exchange Limited for the exchange, Nest Clearing and Custody Limited for clearing and custody, and Nest Trading Limited for broker-dealer services. The FSRA register lists the first two as an active Recognised Investment Exchange and Recognised Clearing House, respectively. Nest Trading is active under Financial Services Permission 260000.
Separate regional permissions include Binance FZE's active Dubai VARA VASP licence VL/24/04/001 and Binance Bahrain B.S.C. (c)'s Central Bank of Bahrain Category 4 crypto-asset services licence. VARA's record covers exchange, broker-dealer, management and investment, and lending and borrowing services; margin and derivatives permissions are limited to qualified and institutional investors. These entity-specific permissions do not establish authorization or product availability in every country.
Binance's prohibited-country policy lists the United States, Canada, the Netherlands, Cuba, Iran, and North Korea, alongside Crimea and the specified Donetsk and Luhansk territories. It does not prohibit all of Ukraine. Binance removed Syria from that list in June 2025. Local terms and product-specific restrictions can impose additional limits.
Related businesses and BNB
Binance Academy publishes educational material, while Binance Research publishes market reports. Binance Pay supports merchant payments and transfers between eligible users. The former Binance Labs investment business rebranded as the independently operated YZi Labs in 2025.
BNB can be used for eligible exchange-fee discounts and token-distribution programs. It also pays transaction fees on BNB Chain. The exchange, the blockchain network, and individual projects in CryptoSlate's BNB Chain sector have distinct operations and risks.
Custody, withdrawals, and support
Binance identified a security incident on October 29, 2026. Its November 6 update described continued phased restoration of withdrawals as asset and network checks were completed. Availability and processing times should therefore be checked for the specific asset and network rather than assumed from a general payout estimate.
Binance publishes proof-of-reserves information covering supported customer assets. This is not a guarantee against cyberattacks, service interruptions, counterparty losses, or liquidation on leveraged positions. Customer support is available through the official chat and Support Center.
