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Binanceâs CEO said that the number of new user registrations has reapproached the levels seen at the peak of the 2017/2018 parabolic bull run.
During a fireside chat as part of Consensus: Distributed on May 12, Changpeng Zhao, the chief executive and founder of Binance, said that the top cryptocurrency exchange is seeing a spike in user registrations.
Zhao noted that new registrations amid the Bitcoin (BTC) halving have recently approached levels last witnessed at the peak of the 2017 bull run.
âThe new user registrations are picking up very aggressively, like getting close to the sort of [new users] generated under 2018,â Zhao said.
New user registrations increase "aggressively"
Binanceâs CEO also noted that the exchangeâs customer support department is receiving a high volume of requests that are indicative of high levels of activity among brand new or casual users, including requests from ânew users depositing into wrong addresses,â and âa lot of older users resetting their passwordsâ after long periods of inactivity.
âAll of those indications are very clear, the activity level is definitely much higher than even three or four months ago,â he added.
Catherine Coley on Binance.US 8-Months After Launch
The CEO of Binance.US, Catherine Coley, later joined the conversation to discuss the progress of Binanceâs U.S.-based exchange roughly eight months after its launch.Â
Coley emphasized that the industry has just seen âthe beginnings of Binance.U.Sâ thus far, stating:Â
âWe were able to license and build upon the technology that Binance is able to provide globally, but at an earlier level. So right now, weâve got just the fundamentals â being able to provide people easy ways to buy crypto, easy ways to put market order in or limit orders.â
Binance.US still navigating regulations
âOur focus is heavily on education and then being able to deliver the lowest fees across American to really lower peopleâs barriers to entry barriers, [...] so we are still early on in terms of the products weâre providing to our U.S. users,â Coley said.
âItâs just a lengthy process in the U.S. to go through all of the regulatory compliance work,â Zhao added. "Hopefully we will get there and continue to enrich the product.â
Coley also noted Binance.USâ May 11 launch of over-the-counter trading services.
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