When the market is bad, we build: Inside Binance’s bold 2030 master plan
Established crypto firms will merge with traditional finance, but neither Wall Street bankers nor corporate giants will take over the crypto industry, said Binance’s Head of VIP and Institutional, Catherine Chen.
What to know:
- Binance is doubling down on growth during a crypto downturn, aiming to expand its verified active user base from about 310 million to 3 billion by 2030.
- The exchange is targeting a more than $2 billion gap between traditional finance and crypto infrastructure spending with a new OMS toolkit and institutional partnerships.
- Binance is deepening ties with Wall Street by enabling institutions to pledge tokenized money market funds from firms like BlackRock and Franklin Templeton, and by offering Crypto-as-a-Service to banks and asset managers.
Coinbase, for example, recently reduced its workforce by 14% or nearly 700 staffers, citing negative market conditions as well as AI challenges, part of a wave of crypto employee layoffs this year.
As BTC faces resistance to reclaim the psychological six-figure mark over $100,000, a level it has not seen since mid-November, the broader market seeks sustainable growth drivers beyond retail speculation. The total crypto market capitalization was hovering around the $2.7 trillion mark, down by nearly 40% from its all-time-high of $4.38 trillion before the October Flash Crash, from which bitcoin has not recovered.
Chen said Binance’s position remains robust despite the market downturn, noting the exchange currently serves more than 310 million active users. She emphasized these are “actual active individual users,” verified through stringent KYC and corporate KYB protocols, not just “registered” accounts, she clarified. Binance is considered the largest crypto exchange in the world, dominating in the market in trading volume and registered users. Coingecko ranks Binance second with daily trading volume averaging roughly $7 billion.
