- In April the exchange controlled 22% of the segment
- Two months later – 2.7%
- Binance.US has lost ground to Kraken and Coinbase
- The latter has significantly benefited from cooperation with BlackRock and other investment firms
- The exchange is listed as a partner in the SSA agreement
Since the Securities and Exchange Commission (SEC) filed suit against Binance and its CEO, the US unit’s spot market share has dropped 20%. At the moment it is only 0.9%.
The figure dropped to a two-year low of 2.7% last month.. Now it has shrunk even further, which calls into question the effectiveness of the unit’s continued operations in the U.S.. By comparison, Binance.US had a 22% share in April.</nbsp;
It is noteworthy that Coinbase is also facing a lawsuit from the SEC. But at the same time, the company’s market share in June rose from 48% to 55%.. This may be due to the fact that the exchange appears in at least three applications for the registration of an exchange product as a “monitoring partner”.
The difficult situation of Binance.US is also indicated by the fact that the organization was forced to cut some staff. The division attributed this to the high cost of litigation.
As for the parent company, it, too, lost some of its positions. The exchange’s spot market share fell to 41.9% in June, setting a new low from last August.</nbsp;
But while Coinbase and Kraken took advantage of the company’s problems in the United States, the global market saw Bybit and OKX.. Both platforms have benefited significantly from the problems of their main competitor.