2024

Spot

<ul>
 <li>In January, Binance recovered 49% of all exchange spot volumes, nearing its previous year’s level.</li>
 <li>The exchange’s market share had dropped to about 34% in September due to legal challenges.</li>
 <li>The platform gained 40 million new users in 2023, demonstrating robust growth amid scrutiny.</li>
</ul>
<p>Leading cryptocurrency exchange <a href="https://thenewscrypto.com/?s=Binance" target="_blank" rel="noopener noreferrer nofollow">Binance</a> continues to make strides toward rebuilding its dominant trading volumes after agreeing to a record-shattering U.S. settlement last November over anti-money laundering violations.</p>
<p>Kaiko, a provider of cryptocurrency market data, reports that Binance recovered 49% of all exchange spot volumes in January. This is just two months after the Department of Justice imposed a costly $4.3 billion fine. The figure approaches levels from earlier last year.</p>
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   <p lang="en" dir="ltr">Two months post-settlement, Binance's market share is recovering. <br><br>Volumes rose to 49%, up from multi-year lows. <a href="https://t.co/Xuo4JQxpY9" rel="noopener noreferrer nofollow">pic.twitter.com/Xuo4JQxpY9</a></p>— Kaiko (@KaikoData) <a href="https://twitter.com/KaikoData/status/1751935218791981422?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 29, 2024</a>
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<p>Binance saw its market share plummet to multi-year lows of around 34% last September amid a confluence of legal pressures chipping away at the exchange’s long-held top perch. But stabilizing U.S. relations and focusing on risk and compliance reforms have it on the path back toward supremacy.</p>
<h2 class="wp-block-heading" id="h-binance-added-40-million-net-new-users-in-2023">Binance added 40 million net new users in 2023</h2>
<p>The company added 40 million net new users in 2023, even while navigating heavy scrutiny. And following November’s deal, a Binance spokesperson said the agreement marked a “new chapter,” with a renewed commitment to customers taking precedence in decision-making.</p>
<p>Though the monumental fine represented a blow both financially and reputationally, Binance appears to be bouncing back by touting its anti-laundering overhaul. And for still-loyal users, the lack of further bombshell actions from investigators provides confidence.</p>
<p>With the U.S. entity still facing trouble, Binance must grow internationally while meeting heightened compliance burdens if it hopes to challenge its peak clout again. That still remains a tall order, even for a defiant exchange less humbled than some expected throughout the ordeal.</p>

Binance Regains Nearly Half Crypto Spot Market Share After Costly Settlement

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