Binance has lost almost 16% market share of trade volume following the CFTC lawsuit and its decision to stop the free trading program. Read more on CE.
- Binance lost 16% market shares in the first quarter of 2023, according to a recent report.
- The report stated that the fall resulted from the CFTC lawsuit and the firm’s decision to end its free trading program.
- While Coinbase’s shares have fallen almost to 49%, Binance US shares surged 24%.
A recent report indicated that the leading crypto exchange Binance has lost almost 16% market share of trade volume over the past two weeks, subsequent to CFTC’s lawsuit against the exchange. It is also reported that the loss has also been a result of the exchange’s decision to end its zero-fee trading program.
The previous week, the United States Commodity Futures Trading Commission (CFTC) alleged that Binance and its CEO Changpeng Zhao have been performing financial activities without proper registration since 2019.