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User demand-driven expansion

Since 2017, the platform has significantly expanded its product lines and offers something for everyone. From Trust Wallet to CoinMarketCap, Binance NFT to Binance Earn, they cater to virtually any interest across the broad spectrum of what blockchain and crypto have to offer. The past year also saw the introduction of Auto-Invest, Binance Live, Learn and Earn, and many newer services. To mark such an iconic anniversary

1.     What have been some of the most important achievements of Binance over the past five years?

Over the past 5 years, Binance’s growth has been tremendous. Becoming the world's largest crypto exchange shortly after our launch and sustaining it hasn’t been the smoothest ride but our commitment to users as well as maintaining high standards has been integral. Binance has become the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider and has become the leader in one of the world's fastest-moving industries. Since 2017, the team has grown over 200 times, and now there are Binancians from all over the globe.

The growth and impact of our education initiatives have also been a major achievement. Binance Academy, Learn and Earn, and Binance Masterclass are integral to educating our users and helping them make more responsible, informed decisions.

Over the past year, we have made great strides in engaging with governments and regulatory bodies across the globe. Within the past year alone, we've received regulatory approvals and registrations in Spain, France, Abu Dhabi, Dubai, Italy, and Bahrain & generally take a collaborative approach in working with all regulators across the world.
2.     What informed the decision to diversify your offerings and from your perspective, how has it impacted Binance’s operations amidst the bearish stance on the market?

With a mission to increase the freedom of money globally, Binance continuously iterates and builds infrastructure and products that enhance the industry. When we launched Binance, we decided that it would be our unwavering commitment to users that would differentiate us in the market. As a result of that commitment, we constantly ensure our users have access to new technologies, ideas, and use cases.

Our diverse offerings is one of the reasons our users across the world continue to use and love us. As such, even during bearish markets, Binance remains strong and continues to diversify its portfolio - prioritizing users, ensuring safety and investing in the ecosystem.

3.     Recent developments in the crypto market space have left some investors burned and others at the edge of their seats. How are you navigating this period?

For us at Binance, our first focus is always to protect users and so, we’re focused on education, ensuring the highest standards of security and collaborations across the industry. The industry is still relatively nascent and I believe it will continue to grow stronger. Additionally, we will always inform our users that with any investment or asset, proper research needs to be done to understand the risks and benefits. Although some cryptocurrencies can be highly volatile, cryptocurrencies and their underlying blockchain technology can be utilised in almost every area of life and as such, many will continue to have utility.

4.     What has been the impact of Binance’s education drive so far? Kindly share numbers, if available.
Binance Academy, Learn and Earn and Binance Masterclass is a testament to Binance’s commitment to equipping crypto beginners with resources for lifelong financial and career development.

In Africa for example, we have hosted multiple events to educate people in the region about the opportunities within the crypto space and how to make a living from them. Our education initiatives have been instrumental in deepening cryptocurrency adoption in Africa. Since the launch of the Binance Masterclass programmes, Binance has educated over 600,000 Africans on the fundamentals of cryptocurrencies, how to identify scams and safeguard their crypto journey.
BNB Chain flourishing into an independent network

Another valuable achievement has been the development and the growth of BNB Chain. In the past year, BNB Chain has recorded over 2.4 billion transactions and hosted over 1200 projects. It is the most active layer-1 network, with a thriving life and ecosystem of its own.

5.    Kindly elaborate, in simple terms, on what the BNB Chain is?

BNB Chain is a community-driven, open-sourced and decentralized ecosystem. The support of its community of users, developers, validators and delegators is vital to its health. BNB (Build N Build), is the native token that “fuels” transactions on BNB Chain. BNB also empowers users in the decentralized on-chain governance of BNB Chain.
BNB Chain’s mission is to build the infrastructure powering the world’s parallel virtual ecosystem, and BNB Chain’s commitment to the community is that it is open, multi-chain, for creators and inventors, permissionless, forever decentralized, and bigger than Binance. Holding BNB gives you the right to make your voice heard and is necessary to participate in BNB Chain’s decentralized on-chain governance.

6.    What has been the performance of BNB Chain so far this year, with specific evaluation in Ghana?
BNB Chain was born in time for the DeFi revolution, as the public showed increased interest in alternative financial solutions and use cases powered by blockchain. Today, BNB has its own living, breathing ecosystem with over 183 million unique chain addresses. It has continued to grow due to the growing utility, affordable fees, supportive community and lots more.
Fostering a regulation-focused mindset
Over the past year, there have been unprecedented levels of engagement in the industry with governments and regulatory bodies across the globe. This happens against the backdrop of a shifting policy environment and marks a substantial step forward toward creating greater regulatory certainty for the industry. It also highlights a broader acceptance of the fact that cryptocurrencies are here to stay, and that the industry is gaining steam toward mainstream adoption.
7.      In Ghana, financial sector regulators have remained publicly opposed to crypto. Has there been any form of engagement at the back end?
Many regulators across the world are now beginning to learn about crypto, understand its impact and look towards regulating in order to protect users while encouraging innovations. At Binance, we welcome this and take a collaborative approach in working with regulators and we take our compliance obligations very seriously. While I cannot mention what regulators we are currently in communication with, we are fully committed to a safe and secure experience for crypto users across all regions.