Glossary
Binance
The largest centralized crypto exchange globally — founded by Changpeng Zhao (CZ) in 2017, operates spot, derivatives, BNB Chain, and a broad product ecosystem.
Binance launched in 2017 and rapidly became the largest crypto exchange in the world by trading volume and customer count. The exchange operates spot and derivatives markets, the BNB Chain ecosystem, Binance Smart Chain (now part of BNB Chain), Binance Launchpad (IEOs), Binance Labs (VC arm), and many other products.
Founder Changpeng Zhao (CZ) stepped down as CEO in November 2023 as part of a $4.3 billion US settlement covering AML and sanctions violations. CZ served four months in US federal prison in 2024. Binance remains the largest exchange under new CEO Richard Teng.