What is the relationship between Binance and cryptocurrency?

Binance is one of the world's leading cryptocurrency exchanges, and as such, it plays a significant role in the cryptocurrency ecosystem. The relationship between Binance and cryptocurrency is multifaceted; the platform provides a crucial infrastructure for buying, selling, trading, and storing a wide range of digital currencies. Founded by Changpeng Zhao in 2017, Binance grew rapidly to become a pivotal service for crypto enthusiasts and traders, offering a user-friendly interface, high liquidity, and low transaction fees. Beyond its basic exchange functions, Binance also supports cryptocurrency projects through its launchpad services, adds to the liquidity of the crypto market, influences crypto prices through its vast user base's trade volumes, and contributes to the blockchain space with research, development efforts and charity initiatives via its philanthropic arm, Binance Charity Foundation.