Binance saw steady growth in 2022, securing 14 licenses and increasing its headcount to 7,500 people representing over 100 nationalities.
It also grew its compliance team to 750 people from 500. As of the end of 2022, the exchange serves over 120 million users from all over the world.
CEO Changpeng (CZ) Zhao said:
“Amid the noise that impacts token prices, projects’ reputations, and the fortunes of individual investors, my goal has been to keep everyone at Binance focused on things that matter the most: building and staying user-focused. I am proud that we remained true to these core values in everything we do.”
Binance also focused on securing regulatory licenses from various countries throughout the year. As of the end of 2022, Binance holds 14 licenses from 14 different countries across the globe, including Abu Dhabi, Dubai, South Africa, France, Italy, Spain, Cyprus, Australia, and New Zealand.
The exchange currently operates in over 140 countries in the world. According to CZ’s letter, Binance will continue to engage with the regulators of these countries to ensure that it meets all local requirements.
Security and compliance were another highlight for Binance over the past year. The exchange enhanced its capabilities in the area by increasing its security and compliance staff by 500% in 2022.
Binance also became the first crypto exchange to join the National Cyber-Forensics and Training Alliance (NCFTA). The exchange is working closely with traditional law enforcement to combat cybercrime.
According to CZ, Binance’s security and investigations team has responded to over 47,000 requests from law enforcement in 2022 and participated in over 70 global anti-cybercrime workshops.
Despite its growth in 2022, Binance was not fully immune to the bear market conditions. As of Dec. 23, Binance’s trading volume fell to $9.39 billion — the lowest since October 2020.