Binance.US in Turmoil: What's Behind the 98% Drop in Trading Volume?

Coinpedia
Coinpedia

19 Sep 2023 10:48 AM

Once hailed as a compliant cryptocurrency exchange, Binance US now finds itself entangled in a web of legal and operational difficulties. The exchange has...

  • Binance US is facing legal scrutiny from the SEC for not providing requested documents.
  • The trading volume of Binance US has dropped by 98% since January 2023.
  • Key executives, including the CEO, Head of Legal, and Chief Risk Officer, have resigned from Binance US.
  • Investors are concerned about Binance US's future stability and its role in the cryptocurrency landscape.
  • The decline in trading activity may be due to fears of legal issues and uncertainties, prompting traders to seek alternative platforms.
  • Coinbase, the largest cryptocurrency exchange in the US, has seen a surge in trading activity.

The article highlights the challenges and difficulties faced by Binance US, indicating a negative sentiment towards the exchange's current situation.

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You May Ask

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