In the face of regulatory hurdles, crypto exchange Binance and its US arm Binance.US have both experienced significant market share declines this year. The ongoing lawsuit filed by the US Securities and Exchange Commission (SEC) has led Binance’s global market share to dip from 60% at the beginning of the year to 52%. Binance.US’s share plummeted from over 22% in April to just 0.9% in June after customers were given a deadline to withdraw their dollar funds, following SEC’s asset freeze request. In contrast, Coinbase’s US market share spiked to 55% in June, benefiting from its role as a surveillance partner for asset managers like Fidelity for a spot bitcoin ETF filing.
Source: https://www.reuters.com
