Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Binance => Topic started by: Sophie Robert on June 26, 2023, 06:50:14 PM
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The share of Binance’s spot trading market held steady at 56% up until June 19. This is a low not seen since August of the previous year when it fell to 53.7%.
When and Why?
Things took a turn for the worse after the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance and its founder, Changpeng Zhao, on June 5. Following yet another lawsuit from the US Commodity Futures Trading Commission, this blow caused a daily market share to decline to an alarming 47% on April 6.
Titans of traditional finance join the battle -
Regulation-related pressure on cryptocurrency exchanges like Binance is not the only source of it. Traditional financial behemoths like BlackRock Inc. are foraying into the cryptocurrency market in an effort to draw in investors who prefer regulated institutions and establish spot Bitcoin exchange-traded funds.
https://twitter.com/edstromandrew/status/1671183371446390784 (https://twitter.com/edstromandrew/status/1671183371446390784)
Regulatory Hurdles Prompt Exit Strategy
Binance has pulled back from nations including Canada, the Netherlands, and Belgium as a result of the ongoing regulatory hurdles.
What do you think, among these hurdles will Binance still holds the title of the largest holder of customer tokens? Comment your opinion.