Binance's 2025 End-of-Year Report: Trust, Liquidity, and Web3 Discovery

• In 2025, Binance became the first global exchange to secure full authorization under ADGM's internationally recognized framework and crossed 300 million registered users worldwide, signaling a new phase where scale and regulatory scrutiny advance together. • Binance remained a primary venue for global crypto liquidity, with $34 trillion traded on the platform in 2025 and spot volume exceeding $7.1 trillion, alongside an 18% increase in average daily trading volume across all products. • Crypto's center of gravity expanded beyond the order book as Binance Alpha 2.0 surpassed $1 trillion in trading volume with 17 million users, while Binance's security, compliance, risk, and governance efforts delivered measurable user protection outcomes at scale. MUMBAI, India, Jan. 9, 2026 /PRNewswire/ -- Binance's State of the Blockchain 2025 year-in-review report is out, highlighting the most important themes and growth metrics across regulation, liquidity, Web3 discovery, institutional adoption, user protection, and the everyday use of crypto. For the full set of findings, product updates, and data points, you can read the full report available here in English. Two milestones arrived close together at the end of 2025: Binance became the first crypto exchange to secure full authorization under the Financial Services Regulatory Authority (FSRA) of ADGM's rigorous regulatory framework, allowing regulated global trading, and their community crossed 300 million registered users worldwide. Together, they reflect how expectations in the industry are changing as crypto platforms are increasingly judged as financial infrastructure – on governance, resilience, user protection, and the ability to perform under stress, in addition to scale, liquidity, and the strength of the user community. Trust as Infrastructure: Regulation, Resilience, and Measurable Outcomes The ADGM framework covers governance, risk management, custody, clearing, and consumer protection, aligning crypto market structure more closely with the expectations placed on traditional financial venues. The report also emphasizes that trust can be measured in outcomes. Since 2023, Binance has reduced direct exposure to major illicit funds categories by 96%. In 2025, Binance's controls helped prevent $6.69 billion in potential fraud and scam losses for 5.4 million users. Over the same period, Binance processed 71,000+ law enforcement requests, supported the confiscation of around $131 million linked to illicit activity by law enforcement partners, and delivered 160+ law enforcement training sessions. Trust is also built by reducing unnecessary friction for legitimate users. One example that the report highlights is Enhanced Due Diligence redesign, where they simplified submission steps and improved pass rates in a short implementation cycle, aiming to make compliance stronger without making user experience harder than it needs to be. Where Liquidity Lives: Depth, Participation, and New Discovery Flows Liquidity still determines the trading experience users actually get: spreads, slippage, and execution reliability. In 2025, Binance processed $34 trillion in trading volume across all products, with spot trading volume above $7.1 trillion. All-time traded volume reached $145 trillion across all products. At the same time, participation is becoming more diverse. Binance expanded spot markets to 490 coins and 1,889 spot trading pairs, and futures coverage to 584 coins. Tools also shifted user behavior toward more structured participation, including simulation and automation. Binance Demo Trading, a unified spot and futures demo environment with virtual funds, was used by more than 300,000 users as a way to learn interfaces and test strategies before trading with real funds. In futures, more than 1.2 million users subscribed to Smart Money, a live suite for tracking aggregated behavior signals from profitable traders. The report also highlights a meaningful shift in where users discover and engage with new projects. Binance Alpha 2.0 became a major discovery surface integrated into the Binance experience, surpassing $1 trillion in trading volume and onboarding 17 million users in 2025. It distributed $782 million in rewards across 254 airdrops. With that scale came added integrity requirements: the report notes that risk controls blocked 270,000 dishonest reward participants attempting to game campaigns, helping keep rewards aligned with real users rather than bot activity. Institutions in Motion: From Pilot Programs to Operational Workflows Another theme running through the report is institutional adoption shifting from experimentation to integration. Institutions are increasingly looking for crypto infrastructure that fits governance, collateral, reporting, and settlement requirements they already use. The increasing scale of their presence was reflected on Binance over the past year as institutional trading volume grew by 2