Binance US Trading Company cryptocurrency in the United States It reported that its market share dropped more than 20% amid lawsuits from federal financial regulators.
According to a July 5 report from Reuters citing data from Kaiko, Binance US’s market share in the United States is reduceFrom more than 22% in April to about 0.9% as of June 26, the United States Securities and Exchange Commission (SEC) has filed a lawsuit against Binance.US, Binance and Binance CEO Changpeng “CZ” Zhao for related allegations. The Commodity Futures Trading Commission filed a lawsuit against Binance and CZ in March.
Coinbase, which also faces similar lawsuits from the SEC, but according to data obtained by Reuters, Coinbase’s U.S. market share rose from about 48% to 55% in June. The surge could involve at least three filings that make Coinbase a partner of asset managers to launch a spot Bitcoin exchange-traded fund in the United States.
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