Binance’s Bitcoin Trading Volume Plunges 57% as Regulatory Pressure Mounts
Coinbase may be a beneficiary, with volumes at that exchange higher by 9% this month....
- Bitcoin (BTC) trading volumes on Binance have decreased by 57% since the beginning of September, while volumes on Coinbase have increased by 9%.
- Binance is facing regulatory scrutiny and lawsuits, leading to a decline in trading activity.
- The U.S. Department of Justice (DOJ) is reportedly considering charges against Binance, and the Securities and Exchange Commission (SEC) has sued Binance and its founder.
- Market makers may be avoiding trading on Binance due to the ongoing legal cases, leading to a decrease in market volumes.
- Binance.US has also experienced a significant decrease in trading activity, with a 99% decrease in weekly overall trading volume.
The article highlights the decline in Bitcoin trading volumes on Binance due to regulatory scrutiny and lawsuits, indicating a negative sentiment towards the exchange.