Binance.US’ trading volume has collapsed since March

2023-9-19 03:30

Binance.US‘ weekly trade volume has plunged dramatically from an annual high of nearly $5 billion to a mere $40 million, crypto data firm Kaiko tweeted on Sep 18.

This drop was exacerbated in June by extensive charges filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its affiliates. The SEC accused Binance of multiple violations, including unauthorized access to the U.S. market, and declared several cryptocurrencies, including Binance’s BNB and BUSD, as securities.

Furthermore, Binance.US announced its transition to a ‘crypto-only’ exchange in June after losing its banking partners in the U.S. This regulatory scrutiny has doubtlessly impacted Binance.US’s operations and its trading volume.

Exodus

In addition to the charges, Binance.US has seen several executives resign in recent weeks. The departures include Head of Legal, Krishna Juvvadi, and Chief Risk Officer Sidney Majalya, with reports indicating that Binance.US CEO Brian Shroder has also left his position. These departures, coupled with the reduction of some services due to broader regulatory difficulties, indicate Binance.US is undergoing significant internal changes, which may be contributing to the trading volume decline.

Scrutiny of Binance’s trading practices has also intensified. The SEC claimed that extensive wash trading took place due to Sigma Chain’s role as a market maker, contributing to an overstated trading volume. Furthermore, Alameda Research, a prominent quantitative trading firm, was often the only counterparty for Binance.US’s over-the-counter trades. These factors point to potential inaccuracies in Binance.US’s reported trading volumes in the past.

The recent hardships faced by Binance.US underscore the extent to which regulatory oversight and internal management issues can impact a crypto exchange’s market activity. While the future of Binance.US remains uncertain, it is clear that its current trajectory represents a radical departure from its previous high-volume trading activity. As the crypto industry continues to evolve under increasing regulatory scrutiny, exchanges like Binance.US must strive to ensure compliance and stability to maintain market confidence.

The post Binance.US’ trading volume has collapsed since March appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Volume Network (VOL) на Currencies.ru

$ 0.0001001 (-0.02%)
Объем 24H $0
Изменеия 24h: 0.10 %, 7d: 0.11 %
Cегодня L: $0.0001001 - H: $0.0001001
Капитализация $0 Rank 3549
Доступно / Всего 0 VOL

binance volume sep tweeted firm data kaiko

binance volume → Результатов: 126


На Binance зафиксирован рекорд в $700 млн по ежедневному объёму торгов BTC-фьючерсами

Как сообщает провайдер данных по криптовалютам Skew, 15 октября криптобиржа Binance установила новый рекорд – $700 млн. по объёму ежедневных торгов биткоин-фьючерсами: Binance just had a record volume day for its newly launched BTCUSDT futures product : $700mln+ traded on the 15th pic.

2019-10-16 13:20


Binance Futures Reports A “Wildly Successful” First Month; Capturing Almost 12% Market Share

“Binance Futures had a wildly successful first month,” states the director of Binance Futures, @AG_Binance in the letter covering the features and milestones from the past 31 days. On September 13, the leading cryptocurrency exchange launched its futures platform and traded 19,253 BTC in volume in the first 24 hours. In the next ten days, […]

2019-10-15 17:36


Фото:

Binance Offers Chinese Bitcoin Traders a Lifeline with P2P Trading

Binance, the world’s largest crypto exchange by 24-hour trading volume has announced the launch of its peer-to-peer (P2P) crypto trading service for Chinese residents. Users will now be able to trade a few supported cryptocurrencies including bitcoin (BTC), ether (ETH) and Tether (USDT) against the Chinese yuan, according to a blog post from the exchange,Read MoreRead More.

2019-10-9 15:48


Объём торгов фьючерсами на Binance достиг 30519 BTC

За 24 часа объём торгов на фьючерсном рынке Binance превысил 30 500 BTC, номинальная стоимость в долларах США превысила $250 млн. 3 октября в Твиттере Binance опубликовала пост, в котором продемонстрировала впечатляющие результаты работы своего нового рынка фьючерсов.

2019-10-4 16:04


Фото:

Cryptocurrency Exchanges Resort to Marketing Measures to Revive Falling Volume

Large cryptocurrency exchanges, including Binance and BitMex, have recently increased their referral fee in a bid to bring back customers and stage a revival in exchange volumes. According to sources from Bloomberg, exchange volumes have fallen by nearly 40 percent over the year, and exchanges are desperate to stage a resurgence as their revenue isRead MoreRead More.

2019-9-26 20:00


Фото:

Binance Ready to Fish out Blackmailer with 25 Bitcoin

Binance, the world’s number one cryptocurrency exchange by trading volume is offering a 25 BTC ($297,000) reward to anyone with relevant clues that could help it fish out the extortionist that has been spreading people’s identity verification data all over the internet, claiming the images were obtained from the exchange via a hack, according toRead MoreRead More.

2019-8-9 21:00