Binance CEO Changpeng Zhao (CZ) has stated that he is a strong supporter of Bitcoin (BTC) despite the company's focus on developing other cryptocurrencies and blockchains. CZ also addressed concerns about the decentralization of Binance's blockchains, stating that the company prefers to let its child networks remain independent.

Binance, the world's largest cryptocurrency exchange, and its U.S. affiliate have seen a decline in market share this year due to regulatory crackdowns. Binance's global market share has dropped from 60% to 52% after being hit by a lawsuit from the U.S. Securities and Exchange Commission.

According to a report by CCData, only 9.49% of bitcoin trading volume occurs on registered US crypto exchanges, with Binance capturing the majority of the volume. American exchanges have been losing market share since at least January 2023, with offshore exchanges such as Bybit, Bullish, and Upbit seeing increases in their business. Additionally, the derivatives market is far greater than the spot market, with Binance capturing the majority of the derivatives market share.

Binance CEO Changpeng Zhao has announced that the company is preparing for increased trading volume over the next six to 18 months, following a recent surge in activity. The surge has been attributed to several factors, including new filings for spot bitcoin ETFs and the upcoming Bitcoin halving event in 2024. Despite ongoing legal battles with regulators in the US, Zhao remains bullish on the future of crypto and believes the industry still has room to grow.

Despite facing lawsuits, Binance and Coinbase have seen a 16.4% increase in spot trading volumes on crypto exchanges, reaching their highest level in three months. However, overall exchange volumes remain low, with Binance's share dropping to 41.6%.

According to data detected by The Data Nerd, on July 5th, a whale address transferred 1590 BTC to Binance 2 hours ago. It is reported that this address accumulated a large amount of BTC at a price of $25,500 in early June, and previously sold some BTC at a price of $30,000. The total profit from this transaction is $12 million.

July 5 (Cointime) - Binance Australia is collaborating with local authorities to comply with regulatory standards following reports of a search at the company's offices on July 4. A spokesperson for Binance Australia stated that the company is committed to serving its users in Australia in a fully compliant manner. The Australian Securities and Investments Commission (ASIC) conducted the search as part of an ongoing investigation into Binance's now-defunct Australian derivatives business. Binance's representative did not confirm or deny whether the company's offices were searched or whether it was aware of a local probe. Binance still offers spot trading services in Australia after shutting down derivatives trading in the country.

July 5 (Cointime) - Binance will support the network upgrade and hard fork of Zilliqa (ZIL) and Waves (WAVES). The network upgrade of Zilliqa (ZIL) will be carried out at 2023-07-05 08:00 (UTC), while the network upgrade and hard fork of Waves (WAVES) will be carried out around 2023-07-06 18:14 (UTC) . During this period, deposits and withdrawals will be suspended. Transactions will not be affected. After the upgrade is complete, we will reopen deposits and withdrawals.

July 5 (Cointime) - Brazilian lawmakers have summoned the heads of major crypto exchanges, including Binance, Bitso, and OKX, to parliament to face questioning from MPs as part of a special parliamentary commission for “cryptocurrency-based financial pyramid schemes”.

July 4 (Cointime) - Enforcement actions by the SEC against Ripple, Binance, and Coinbase have negatively impacted the liquidity of other crypto exchanges. The CEX landscape has already faced challenges, and a new report shows a slow recovery in liquidity during Q2.