The number of Binance users has exceeded 170 million, the head of the exchange said.

The head of the Binance cryptocurrency exchange, Richard Teng, said the number of platform users worldwide has exceeded 170 million. Taking to X, he made the announcement.

In the post, Teng did not indicate any country specific data.

In early August, the founder and former CEO of Binance, Changpeng Zhao, noted that the number of registered users of the world’s largest crypto exchange reached 150 million.

The number of users on the largest American crypto exchange, Coinbase, currently stands at approximately 98 million.

Despite the difficulties in 2023, including lawsuits from the Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC), the crypto exchange has grown by more than 40 million users over the past year.

Also this year, Bloomberg reported that Zhao became $25 billion richer, with the total amount of Zhao’s wealth now estimated to be $37 billion. The bulk of Zhao’s wealth, per the report, comes from his majority stake in Binance.