How Binance Became the World’s Biggest Crypto Exchange

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The world’s fastest-grow­ing major finan­cial exchange has no head office or for­mal address, lacks licens­es in coun­tries where it oper­ates and has a chief exec­u­tive who until recent­ly wouldn’t answer ques­tions about his location.

Start­ed just four years ago, Binance is the exchange giant that tow­ers over the dig­i­tal cur­ren­cy world, a cryp­to equiv­a­lent of the Lon­don, New York and Hong Kong stock exchanges com­bined. After a burst of growth, Binance process­es more trades for cryp­tocur­ren­cies such as bit­coin and ether each day, $76 bil­lion worth, than its four largest com­peti­tors put togeth­er, accord­ing to data provider CryptoCompare.

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