BNB repurchased over 60 million US dollars in a single quarter, ranking C on Binance three years after its founding

C.Z 2025-10-14 11:50 68052人围观 BNB

Text | Edited by Litchi | Produced by Tanya | PANews
On July 19, Binance released information on the 12th BNB destruction, with a total of 3,477,388 BNB destroyed, worth approximately US$60,500,000. The amount of BNB burned this time increased by approximately 3% compared to the previous time, and the total value burned increased by approximately 15%. This set of data has set a record high in the number of BNB burned and the value of the corresponding fiat currency, and the BNB repurchase and burn has maintained continuous growth for 6 quarters. You may not be able to feel the strength of Binance just by looking at the data. The following comparison will give you a more intuitive understanding. According to BNB’s mechanism of using 20% of Binance’s net profit for the quarter for repurchase and destruction, Binance’s net profit in the second quarter exceeded US$300 million (RMB 2.1 billion). According to data from Oriental Fortune.com, compared with the data of each company in the first quarter report of A-share listed companies (the second quarter report has not yet been released), Binance’s net profit ranks around 50 in the country, which is equivalent to the net profits of Hangzhou Bank and GF Securities. Binance’s revenue capabilities are already ahead of many domestic city commercial banks.

The 12th burning also means that Binance has gone through three years without knowing it. Three years is a short period of time. For most companies, three years is just the initial stage. Even most blockchain projects fail to survive three years. Information from the China Academy of Information and Communications Technology (CAICT) shows that the average lifespan of a blockchain project is approximately 1.22 years. Three years is also a long time, long enough for Binance to become the world leader in digital currency trading business and create many precedents in the blockchain industry. On the third anniversary of its establishment, PANews found that Binance began to seek transformation, embrace compliance technology, change the image of just an exchange in people's minds, and pave the way for the entire industry.

Binance has turned challenges into “luck” in three years”
Only highly resilient companies can survive crises, turn each crisis into growth opportunities, and achieve sustainable growth. Looking back three years later, perhaps Binance, which was hit by the "September 4th Incident" in 2017 after being established for only two months, cannot imagine what the future will look like. Binance quickly adjusted its strategy to globalization and started from currency trading. Binance’s development report card in the past three years is very impressive. On December 17, 2017, the price of Bitcoin hit an all-time high, and Binance’s daily trading volume also reached a record high of $11 billion, making it the world’s largest cryptocurrency exchange by trading volume. Subsequently, from a video interview with Bloomberg to appearing on the cover of Forbes magazine, Changpeng Zhao’s Binance logo has occupied the “minds” of global digital asset followers. By 2018, Binance was firmly at the forefront of spot trading volume, but it left Japan and moved to Malta, where the Prime Minister personally welcomed and received it. At this time, Binance was labeled as "wandering" and "non-compliant" by "careful people". In fact, currency-to-crypto trading was the most compliant method in the environment at that time. Later, as the environment gradually matured, Binance worked hard to build a legal currency trading platform, which now covers more than 170 countries and regions around the world, including local payment partner channels and C2C platforms. In addition, Binance has also co-founded the Binance fiat currency-blockchain asset trading platform with institutions around the world, including fiat currency trading platforms in the United States, Jersey, South Korea, Singapore, Uganda, Australia, the United Kingdom, etc. Users can buy, sell and trade blockchain assets on these platforms. Binance is also seeking change and innovation. At the beginning of 2019, when the market was at a freezing point, Binance’s asset issuance platform Launchpad issued BitTorrent. This exchange’s initial offering (IEO) model instantly ignited the market’s enthusiasm and was followed by major exchanges. As of now, there are a total of 16 IEO projects on Binance DEX and the main platform, ranking first with a return rate of 397% and 366% respectively, and other exchanges are far behind.

The current return rate of IEO on exchanges has firmly established itself in the spot market, and Binance began to expand its derivatives business in the second half of 2019. On September 2, 2019, Binance acquired the derivatives exchange JEX. A week later, the Binance main website also launched the contract business, and then opened 125 times leverage. Coingecko data shows that the current daily trading volume of Binance Bitcoin contracts is US$2.93 billion, ranking first in the world, and the comprehensive trading volume of Binance contracts has always been among the top three. Since the beginning of this year, the derivatives business has accelerated its development. Options trading was launched on April 13, and the self-developed Binance leveraged token was launched in May, which solved the major problems of leveraged tokens on other platforms in the current market. In the three-year exam, behind all the big results are the accumulation of small pieces, the lines of code by technicians, the security department monitoring anytime and anywhere, the long-term eye diseases caused by overuse of the eyes, and the lumbar muscle strain caused by working at the desk for too long... Talking about Binance's achievements in the past three years, Changpeng Zhao said that this is the behind-the-scenes that most people cannot see. Our team has gone through bloody battles to turn each severe challenge into "lucky". On the second anniversary of Binance last year, PANews interviewed Binance’s Chief Growth Officer Ted Lin. When talking about the team character that he believed created Binance, he said, “Seriousness, freedom, and humility. We do not let short-term fluctuations affect our pace. Our goal is not to make money but to popularize blockchain technology and digital currency to more people. ”Nowadays, no one will question Binance’s status and strength in the exchange. Trading is the main business of Binance that everyone is most familiar with. However, as a “big player” in the industry, its new actions outside of trading are more worthy of attention and consideration. Binance’s layout is not only important to itself, but also plays an important role in the industry.

Binance’s Blitz Ecosystem Expansion
Changpeng Zhao CZ once recommended the book "Blitzscaling" ("Blitzscaling") by Reed Hoffman, co-founder of LinkedIn and member of the PayPal "gangster". Binance is expanding as fast as possible just as the author described. In addition to its rich trading product line, Binance has included incubators, Binance Cloud, mining pools, public chains and other businesses, and it also actively cooperates with other industry leaders to form a huge Binance ecosystem. For example, as an exchange, it established the Binance Labs incubator, established a top mentor camp to guide entrepreneurs, provided investment and incubation services to early blockchain teams, and expanded the boundaries of blockchain innovation. At the same time, projects are encouraged to be deployed on Binance Chain to strengthen the public chain ecosystem. Externally, Binance has not stopped its acquisitions. Binance’s famous industry acquisition cases include wallet application Trust Wallet, encryption derivatives platform JEX, India’s largest exchange WazirX, encryption payment platform Swipe, decentralized application data platform DappReview, cryptocurrency data platform CoinMarketCap, etc. Take Swipe as an example. The Swipe platform supports a variety of encrypted assets and supports Visa card payment. Users can freely trade and spend on the platform without disclosing the amount. The legal currencies currently supported by the Swipe platform include the euro, pound, US dollar, Korean won and Philippine peso, and will be expanded in the future. The addition of Binance can help it promote the large-scale implementation of its products and create greater industry value.

Data shows that Binance made a total of 9 wholly-owned acquisitions in 2019 and invested in 21 companies. Binance’s acquisition of other companies is an expansion of its business territory, and at the same time, it has changed the pattern of blockchain companies to a certain extent. From the perspective of industry entrepreneurs, being acquired is a good “destination”. As the leader in the industry, Binance’s external acquisition strategy also encourages innovators. Binance also promotes an open platform to provide infrastructure for the entire industry. Including Binance Cloud, committed to providing a one-stop solution for crypto asset trading platforms ； Binance’s open source wallet Trust Wallet provides basic technology for crypto asset storage ； Binance Angel Network promotes collaboration between the Binance community and cryptocurrency participants from various countries ； Binance Chain provides the underlying protocol for the application ecosystem. At present, Binance's ecosystem has evolved from a year ago around nine major ecological businesses: Launchpad, charity, fiat currency trading platform, Info, Labs incubator, Research, Binance Chain, Binance Academy, and Trust Wallet. It is now divided into five sections, covering more than 29 products, including Binance Chain and decentralization. ； Investment and incubation ； Education, information and social products ； Binance Open Platform ； Cooperative legal currency and digital asset trading platform.

In addition, Binance is actively collaborating with other industries. At the end of last year, Binance cooperated with the famous mobile phone manufacturer HTC to launch a limited edition blockchain mobile phone EXODUS 1-Binance. This phone supports Binance public chain and cryptocurrency transactions, and is preloaded with Trust Wallet. Brave has also reached a cooperation with Binance and added Binance plug-in to its browser, allowing users to access Binance’s website without leaving the browser. Cooperating with companies outside the industry not only “attracts new customers” to Binance, but also “attracts new customers” to the industry. These breakthroughs inside and outside the industry are not only breakthroughs for Binance, but also breakthroughs for the blockchain industry, creating more possibilities for the industry.

The Metamorphosis of Binance’s Image in China”
Starting from China and becoming global, PANews found that Binance is returning to China this year as Binance China. Changing the inherent perception that Binance is just an exchange, positioning China’s business in blockchain technology-driven industry development. In March 2020, Binance China and Lingang Group jointly established the Lingang Blockchain Technology Industry Research Institute. The background of the establishment of the institute is that the top leaders emphasized that blockchain is a breakthrough for independent innovation of core technologies and should focus on accelerating the development of blockchain technology and industrial innovation. The emergence of Binance China makes people compare it with Huobi China. Binance also starts from the industrial blockchain to accelerate its domestic compliance layout. The establishment of the institute also coincided with the introduction of the concept of new infrastructure. In the explanation of the National Development and Reform Commission, it was stated that new infrastructure includes information infrastructure, converged infrastructure and innovative infrastructure, and blockchain is the representative of new technology infrastructure.

Binance China actively responded to the national needs and launched the strategic project of "Digital New Infrastructure·Hundred Cities and Thousand Enterprises Spark Plan" on June 12, 2020, striving to support small, medium and micro enterprises with new technologies and new technologies, and use blockchain technology to empower real industries. Binance has also launched a smart chain to build blockchain infrastructure to support the development of financial technology and promote applications in subdivided vertical industries, including games, energy, patents, tourism, real estate and other industries. At present, the Binance Smart Chain test network "Rialto" has been officially launched and open sourced, and is planned to be launched on the main network in the third quarter. Currently, Binance China has cooperated with traditional enterprises in the country. For example, it has reached a strategic cooperation with Xinyuan Group. The two parties will dig deep into the integration point of the real estate field and the blockchain industry, accelerate the implementation of blockchain application scenarios, and complement resources to jointly incubate blockchain-related innovative projects and create a blockchain industry highland. China Commercial Beidou Supply Chain Management Group is also one of the companies that chose to cooperate with Binance China. It was established under the leadership of the Commercial Network Construction and Development Center of the State-owned Assets Supervision and Administration Commission and is a national supply chain innovation and application demonstration enterprise. Binance and China Business Beidou will carry out innovation and application cooperation in the fields of supply chain and blockchain. Binance China also represents Chinese blockchain institutions to expand their international influence. On June 16, Binance China Blockchain Research Institute joined the United Nations Global Compact to support the organization in promoting sustainable "Belt and Road" construction to achieve sustainable development goals. Participating institutions in this action platform include nearly 15 leading companies and institutional partners, including China Development Bank, Sinopec, and State Grid Corporation of China. Cooperate with traditional domestic giants to promote the integration of blockchain technology with the real industry, refreshing Binance’s domestic image. The Binance Ecosystem’s powerful technology and global vision support will also help Binance China participate more deeply in China’s blockchain construction and application process, and help the development of the domestic digital economy. In addition to image recognition at the business level, the company's social image is reflected through charity activities. China's philanthropic actions during the epidemic have greatly benefited Binance's image. Binance Charity began operating in China early in the epidemic. In January 2020, Binance Charity donated 10 million yuan in supplies to the Wuhan disaster area to help the people of Wuhan tide over the difficulties and defeat the new coronavirus epidemic. It is understood that after China, Binance Charity plans to donate to countries with severe epidemics, including Italy, Germany, Spain, South Korea and other countries. The total plan is to raise US$5 million to purchase medical supplies and send them to hospitals and communities to help countries fight the epidemic together. As the world's leading blockchain company, Binance's corporate social responsibility exceeds legal and moral requirements, and its image of responsibility and responsibility has long surpassed the impression of just being an exchange.

Three years later, Binance has unlimited plans for the world, but it is not enough for a short time.； Those who do not plan for the overall situation cannot plan for one area. The three-year-old Binance has not set limits on its future. It has planned the overall situation from the beginning, and its future is looking at the entire digital economy. “There is a saying in the Internet field that "application companies are worth one billion, platform companies are worth tens of billions, and ecological companies are worth hundreds of billions." If a company wants to be strong, it depends not on its ability to adapt, but on its ability to expand. Only by making your own business from weak to sound can you be invincible. This is true for traditional Internet companies, and the same is true for the blockchain industry. ”According to Binance co-founder He Yi, what Binance wants to do is to be an ecological company and continue to expand outward. And Changpeng Zhao is also trying to use Binance as the bottom layer to flow into every "capillary" of the entire ecosystem. “Binance’s vision is to provide liquidity and infrastructure services to the entire digital currency industry, but others don’t need to know that Binance provides it. What I hope Binance can do is provide some basic underlying services throughout the industry and become a tool for others.” In the third anniversary letter, Changpeng Zhao stated that Binance will also introduce more fiat currency channels in the future. ； Continue to work with multiple regulators around the world to drive faster adoption of crypto assets ； Investment projects promote the growth of the entire ecosystem... What is more worth mentioning is Binance’s future plans in China. Binance China promotes the combination of blockchain technology and industry in a compliant manner to promote the development of the real industry. Launched the "Hundred Cities, Thousands of Enterprises, Spark Plan" plan, which plans to provide 1,000 Chinese digital technology companies with all-round resource support in terms of capital, technology, and talent in the next two years, integrate global industry-university-research resources, promote the development of industrial blockchain, and build China's blockchain technology industry community. Providing services to the global blockchain industry and promoting the development of the entire blockchain industry are Binance’s achievements on its third anniversary and its wish for the future. What awaits Binance is not a 100-meter sprint, but a century-long run.