Cointime

Cointime

Download App
iOS & Android
Home / Point

Binance Loses Market Share to Global Rivals Amid Regulatory Pressure

Binance, the world's largest cryptocurrency exchange, has seen a decline in market share this year, dropping from 75% at the end of 2021 to under 51% in September 2022. This decline comes as Binance faces regulatory hurdles, including lawsuits from the SEC and CFTC in the US and an investigation in France. Other global rivals, such as Huobi and Upbit, have gained traction and market share as Binance's share has declined. Trading volumes across all exchanges have also decreased, with investors and traders increasingly seeking out licensed exchanges or decentralized trading venues.

CEX Binance
Comments

All Comments

Recommended for you

  • Morgan Stanley: The U.S. dollar will peak before the end of the year and enter a "bear market pattern" in 2025

    Morgan Stanley predicts that the strong US dollar will peak before the end of the year and then enter a "bearish market trend", slowly declining until 2025. The bank believes that due to the Bank of Japan's rate hikes and gradual easing actions by the Reserve Bank of Australia, the potential for the yen and Australian dollar to rise next year is the greatest.

  • Equation News calls out Binance for "insider trading": You are destroying the sentiment of the trading market

    On November 25th, Formula News reported that to those insider traders who participated in the listing of Binance perpetual contracts, please slow down when selling your chips next time. The WHY and CHEEMS crashes you caused resulted in a 100% negative return for everyone involved in the trade, and you are destroying the emotions of the trade. Earlier today, Binance announced the listing of 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts, which caused a short-term crash in WHY and CHEEMS and sparked intense discussion within the community.

  • U.S. Congressman Mike Flood: Looking forward to working with the next SEC Chairman to revoke the anti-crypto banking policy SAB 121

     US House of Representatives will investigate Representative Mike Flood's recent statement: "Despite widespread opposition, SAB 121 is still operating as a regulation, even though it has never gone through the normal Administrative Procedure Act process." Flood said, "I look forward to working with the next SEC chairman to revoke SAB 121. Whether Chairman Gary Gensler resigns on his own or President Trump fulfills his promise to dismiss Gensler, the new government has an excellent opportunity to usher in a new era after Gensler's departure." He added, "It's not surprising that Gensler opposed the digital asset regulatory framework passed by the House on a bipartisan basis earlier this year. 71 Democrats and House Republicans passed this common-sense framework together. Although the Democratic-led Senate rejected it, it represented a breakthrough moment for cryptocurrency and may provide information for the work of the unified Republican government when the next Congress begins in January next year."

  • Indian billionaire Adani summoned by US SEC to explain position on bribery case

    Indian billionaire Gautam Adani and his nephew, Sahil Adani, have been subpoenaed by the US Securities and Exchange Commission (SEC) to explain allegations of paying over $250 million in bribes to win solar power contracts. According to the Press Trust of India (PTI), the subpoena has been delivered to the Adani family's residence in Ahmedabad, a city in western India, and they have been given 21 days to respond. The notice, issued on November 21 by the Eastern District Court of New York, states that if the Adani family fails to respond on time, a default judgment will be made against them.

  • U.S. Congressman: SEC Commissioner Hester Peirce may become the new acting chairman of the SEC

    US Congressman French Hill revealed at the North American Blockchain Summit (NABS) that Republican SEC Commissioner Hester Peirce is "likely" to become the new acting chair of the US Securities and Exchange Commission (SEC). He noted that current chair Gary Gensler will step down on January 20, 2025, and the Republican Party will take over the SEC, with Peirce expected to succeed him.

  • Tether spokesperson: The relationship with Cantor is purely business, and the claim that Lutnick influenced regulatory actions is pure nonsense

     a spokesperson for Tether stated: "The relationship between Tether and Cantor Fitzgerald is purely a business relationship based on managing reserves. Claims that Howard Lutnick's joining the transition team in some way implies an influence on regulatory actions are baseless."

  • Bitwise CEO warns that ETHW is not suitable for all investors and has high risks and high volatility

    Hunter Horsley, CEO of Bitwise, posted on X platform that he was happy to see capital inflows into Bitwise's Ethereum exchange-traded fund ETHW, iShares, and Fidelity this Friday. He reminded that ETHW is not a registered investment company under the U.S. Investment Company Act of 1940 and therefore is not protected by the law. ETHW is not suitable for all investors due to its high risk and volatility.

  • Musk said he liked the "WOULD" meme, and the related tokens rose 400 times in a short period of time

    Musk posted a picture on his social media platform saying he likes the "WOULD" meme. As a result, the meme coin with the same name briefly surged. According to GMGN data, the meme coin with the same name created 123 days ago surged over 400 times in a short period of time, with a current market value of 4.5 million US dollars. Reminder to users: Meme coins have no practical use cases, prices are highly volatile, and investment should be cautious.

  • Cointime July 7th News Express

    1, Ethereum L2 TVL rebounds slightly to above $39 billion

  • Binance: Bitcoin miners record longest streak of net selling since 2017

    Binance released its market insights for July, including:

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company