Since being sued by the US Securities and Exchange Commission (SEC) in June this year, <a target="_blank" href="https://tokeninsight.com/en/exchanges/binance-us">Binance.US</a>'s business has been dramatically affected. According to TokenInsight data, the trading volume of the US platform of Binance has suffered a cliff-like decline in the past six months. In the last 90 days, Binance.US's trading volume was only $934 million, while in the previous 90 days, its trading volume was $29.336 billion, a drop of 96.8%.
<img src="https://s2.tokeninsight.com/static/calendar/img2023091806071874c19933-d5f6-4d47-a09e-35e9f64e54bc.jpg">
In contrast, two other major US-regulated exchanges, <a target="_blank" href="https://tokeninsight.com/en/exchanges/coinbase">Coinbase</a> and <a target="_blank" href="https://tokeninsight.com/en/exchanges/kraken">Kraken</a>, have also experienced a decline in trading volume in the past six months, but they are still within the normal range. Coinbase's trading volume in the past 90 days was around $79.89 billion, a decrease of 12.0%; Kraken's trading volume in the past 90 days was around $40.06 billion, a decrease of 10.9%.
Binance.US is in the midst of a troubled time. Last week, three executives, including CEO Brian Shroder, left the exchange, with former chief legal officer Norman Reed taking over as CEO. CZ said that Shroder had done his job and was "taking a deserved break", and in "a rapidly evolving and increasingly hostile regulatory environment", Reed, who used to work at the SEC and the New York Fed, was "the right person to lead Binance.US".
Related: <a target="_blank" href="https://tokeninsight.com/en/news/binance.us-ceo-left-to-take-deserved-break-cz-says">Binance.US CEO Left to Take 'Deserved Break', CZ Says</a>
<a target="_blank" href="https://tokeninsight.com/en/news/key-points-on-the-sec-s-lawsuit-against-binance-and-cz">Key Points on the SEC's Lawsuit Against Binance and CZ</a>
<img src="https://s2.tokeninsight.com/static/calendar/img202309180608095c2c9b2b-19ca-4122-b555-efb51910240c.jpg">
Stay updated with the most important <a target="_blank" href="https://tokeninsight.com/en/news">cryptocurrency news</a> and valuable insights, conveniently delivered to your email every day. <a rel="noopener noreferrer nofollow" target="_blank" href="https://mailchi.mp/tokeninsight/newsletter">Subscribe to the TokenInsight mailing list now!</a>
Prefer social media? Follow us on <a rel="noopener noreferrer nofollow" target="_blank" href="https://twitter.com/tokeninsight">Twitter</a>, or subscribe to our <a rel="noopener noreferrer nofollow" target="_blank" href="https://t.me/TokenInsightchannel">Telegram channel!</a>
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a>

Data: Binance.US Trading Volume in Past 90 Days Plummeted 96.8%

TokenInsight

Other articles published on Sep 18, 2023

Investors in India, Nigeria, and Thailand adopt cryptos like Ethereum, Cardano, and Bitcoin Spark...

Crypto Leaders Discuss ETHGate: Ethereum’s Regulatory Treatment Under Scrutiny

Crypto starts the week with a bang

Ethereum Marks One Year of PoS Transition: $1.5 Billion ETH Burned and Other Key Changes

Hong Kong’s JPEX Exchange Suspends Trading Amid Regulatory Probe and Arrest

Bitbuy enters partnership with Canada’s largest Bitcoin ATM Provider

Join our free newsletter for daily crypto updates!