Binance Market Share Tumbles 18% on Regulatory Heat in US: Kaiko

Binance, the world’s largest cryptocurrency exchange, has experienced a significant decline in its spot volume market share among centralized exchanges due to regulatory issues in the United States, according to a report by Kaiko Research. The decline came after the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) took regulatory actions against Binance, accusing the exchange of various violations. As a result, investors have been moving their assets away from the exchange, causing a drop in liquidity and market share. However, Kaiko notes that Binance has shown signs of recovery, particularly with its $4.3 billion fine settlement with the Department of Justice (DOJ) and its ability to continue operating in the United States. Nonetheless, other centralized exchanges have seen significant growth in market share during this period. It is important to note that the information provided in this article is for informational purposes only and should not be considered financial advice.