Hey there! I wanted to share some interesting news with you. According to a recent report by CCData on October 7, Binance’s market share has dropped to 36.6%, the lowest point it has been in four years. It’s been a tough year for Binance as their market share has been on a steady decline since March due to increased regulatory scrutiny worldwide.
Earlier this year, Binance held a market share of 42.7%, but it has significantly decreased in just a few months. Their spot market share has also fallen to only 27% of trading volume, the lowest level since January 2021.
Binance has been facing some tough regulatory challenges lately, especially in the past year. They recently settled with the U.S. Department of Justice over sanctions violations, resulting in a $4 billion fine. As a result, Binance co-founder and former CEO CZ announced his resignation due to legal issues, including facing four months in prison.
For more information, you can check out the source here .
