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Binance: Ecosystem Leadership in Uncertain Times

Published 19 Jan 2022
Reference 6683
Topic Strategy
Industry Banking
Region Global
Summary

Started in 2017, Binance rapidly became the world’s number one exchange for cryptocurrencies. This case sheds light on the genesis of Binance and its growing pains, describing its attempts to “blitzscale”, cope with institutional uncertainty, and set standards in an entirely new domain. The case prompts readers to think about the factors underlying the organization’s agility that enabled it to build an ecosystem.

Teaching objectives

This case is appropriate for teaching concepts related to building an ecosystem and organizational agililty, and to learn about the cryptocurrency industry and blockchain organizations.

Keywords
  • Cryptocurrencies
  • Blockchain
  • Cryptos
  • Binance
  • Ecosystem
  • Agility
  • Institutions
  • Uncertainty
  • Political Environment
  • Global Strategy
  • Cross-Border Teams
  • Industry Leadership
  • Q12022