Verdict: Binance is the largest crypto exchange by trading activity, with deep liquidity, a 0.1% base spot fee and a very wide product range. CoinGecko still rated it 10/10 for trust on 8 November 2026, tracking 519 coins and 1,364 pairs. But it carries the heaviest baggage in the industry: a $4.3 billion US criminal settlement in 2023 and, in late October 2026, a roughly $6.3 billion hot-wallet hack, the largest crypto theft on record. Binance says customer losses were covered, but anyone using it should weigh those events seriously.
Binance at a glance
| Item | Details (November 2026) |
|---|---|
| Founded | 2017 (per CoinGecko) |
| Incorporation | Cayman Islands (per CoinGecko) |
| Key licences | ADGM FSRA (UAE): Nest Exchange, Nest Clearing and Custody, Nest Trading |
| Coins / pairs | 519 coins, 1,364 pairs (CoinGecko) |
| Spot fees | 0.1% for regular users; 25% off when paying in BNB |
| US customers | Separate platform: Binance.US |
| Recent incident | ~$6.3bn hot-wallet hack, 29-30 October 2026 |
| CoinGecko Trust Score | 10/10 |
Regulation and safety
Binance’s licences page lists three entities supervised by the Financial Services Regulatory Authority of Abu Dhabi Global Market:
- Nest Exchange Limited – a Recognised Investment Exchange (derivatives) with permission to operate a multilateral trading facility.
- Nest Clearing and Custody Limited – a Recognised Clearing House that may also provide custody and operate a central securities depository.
- Nest Trading Limited – authorised for dealing, arranging, asset management and custody arrangement, i.e. OTC broker-dealer activity.
The FSRA approvals were reported in December 2025, with regulated activity for Binance.com expected from January 2026. This is the first time Binance’s global platform has sat under a comprehensive financial-services regulator. Binance also holds national registrations in various countries, but they change frequently; confirm which entity serves your country before you deposit.
Two events dominate Binance’s record:
- 2023 US settlement: in November 2023 Binance pleaded guilty to anti-money-laundering failures, operating an unlicensed money transmitting business and violating US sanctions, and agreed to pay $4.3 billion. Founder Changpeng Zhao pleaded guilty to a Bank Secrecy Act violation, paid a $50 million fine and stepped down as CEO, replaced by Richard Teng. Binance accepted a three-year independent compliance monitor.
- October 2026 hack: on the evening of 29 October (US time; early 30 October in the UAE), attackers drained about $6.3 billion from Binance’s internet-connected hot wallets across ten blockchains in roughly 20 minutes. The FBI attributed the attack to TraderTraitor, a North Korean state unit linked to the Lazarus Group. Binance first pointed to a compromised engineer’s laptop and later to additional points of breach, saying no wallet private keys appeared to have leaked. Withdrawals were suspended and resumed in phases from 1 November. Binance said it had replenished 95% of the stolen assets using its SAFU emergency fund, part of its futures insurance fund and corporate money, with the rest being sourced over the counter. Stablecoin issuers and blockchain foundations froze about $2.85 billion of the stolen funds, and customers withdrew a net $4.72 billion in the days that followed.
The hack shows both sides of Binance: its balance sheet was large enough to absorb a multi-billion-dollar loss without, by its account, touching customer balances, but its operational security failed on a scale never seen before. A full post-mortem had been promised but was not yet published when we checked.
Trading fees
Binance’s spot fee FAQ uses a 0.1% fee per trade for regular users in its worked examples, charged in the asset you receive. Paying fees in BNB cuts this by 25%. VIP levels based on 30-day volume and BNB holdings lower the rate further, and the estimated fee on the trade screen is indicative; Trade History shows what you actually paid.
| Fee item | Regular user (November 2026) |
|---|---|
| Spot trade | 0.1% per trade |
| Spot trade paid in BNB | 0.075% (25% discount) |
| US stocks (where offered) | 0.05% promotional spread to 31 Dec 2026, standard 0.10% |
| Crypto withdrawals | Network fee, varies by coin and chain |
A 0.1% base fee is roughly a sixth of the entry-level taker fee at some US-regulated exchanges, which is a major reason traders choose Binance. Binance’s stocks fee page also shows a separate schedule for US equity trading in supported regions.
Products and markets
CoinGecko tracked 519 coins and 1,364 pairs on Binance in November 2026, and Binance’s liquidity in major pairs is among the deepest anywhere. The platform’s wider product range, including derivatives, earn products and P2P trading, varies by country and we did not verify current terms or maximum leverage on official pages; check the product page in your region before using leverage or yield products.
Platforms and tools
Binance offers a web exchange and mobile app with simple and advanced modes, plus extensive APIs for algorithmic traders. Interface options and available products are tailored to your country of residence.
Deposits and withdrawals
Crypto withdrawals carry a network fee that depends on the coin and chain. Fiat on-ramps differ by country, and we could not confirm a minimum deposit on an official page. After the October 2026 hack, withdrawals were briefly paused and reopened in stages; Binance says flows have since normalised.
Who Binance suits
- Good fit: active traders who need the deepest liquidity and low base fees; users of BNB who benefit from the fee discount; traders in countries where Binance is properly registered.
- Think twice: anyone who prioritises a clean regulatory record or top-tier home-country licensing; users uncomfortable after the record October 2026 hack; US residents, who are directed to the separate Binance.US.
Final verdict
Binance remains unmatched on liquidity and competitive on fees, and its ADGM licences mark real regulatory progress. Against that sit a 2023 criminal guilty plea and the largest hack in crypto history in October 2026. Binance’s coverage of the losses limited the damage to customers, but the event is a reminder to keep only trading balances on any exchange and move long-term holdings to self-custody. Crypto prices are highly volatile.
FAQ
Was Binance hacked in 2026?
Yes. On 29-30 October 2026 about $6.3 billion was drained from Binance hot wallets, the largest crypto theft on record; the FBI attributed it to North Korea’s TraderTraitor group. Binance said it covered losses from its SAFU fund, futures insurance fund and corporate treasury, reporting 95% replenished within days, and reopened withdrawals in phases.
What are Binance spot trading fees?
Binance’s spot fee FAQ uses a 0.1% fee per trade for regular users, with a 25% discount if you pay fees in BNB. VIP levels based on volume and holdings pay less.
Is Binance regulated?
Binance lists three entities supervised by Abu Dhabi’s FSRA in ADGM: Nest Exchange Ltd, Nest Clearing and Custody Ltd and Nest Trading Ltd, which began regulated activity for Binance.com in early 2026. Registrations in individual countries vary, so check which entity serves your country.
Why did Binance pay $4.3 billion to US authorities?
In November 2023 Binance pleaded guilty to anti-money-laundering, unlicensed money transmission and US sanctions violations and agreed to pay $4.3 billion; founder Changpeng Zhao pleaded guilty to a Bank Secrecy Act violation and stepped down as CEO, and Binance accepted a three-year independent monitor.
Can US residents use Binance.com?
US customers are served by the separate Binance.US platform, which has its own fee schedule; check Binance’s terms for the current list of restricted countries.
Facts checked on 8 November 2026 against the official website and regulator registers. Fees and conditions change; confirm on the official site before opening an account.