Binance Hits $100B Assets, Recovers $73M, and Bags $1.2B Amid Bitcoin Surge

Aug 8, 2024, 12:04 PM

Binance, the major cryptocurrency exchange, has reported significant achievements in 2024. The company now holds $100 billion in total assets on its centralized exchange (CEX), marking a strong recovery after facing numerous challenges in 2022-2023. Additionally, Binance has recovered $73 million in stolen funds as of July 31, 2024, surpassing the $55 million secured in 2023. This recovery is largely attributed to proactive efforts, with approximately 80% of the funds related to external exploits. On a particularly active trading day, Binance also generated $1.2 billion in revenue, coinciding with a 4.6% rise in Bitcoin and a 3% increase in Ethereum.