Posted 12/11/2023, 6:55:00 PM
Binance's Dominance Slips as Trading Volumes Plunge, Executives Exit Amid Regulatory Woes
- Binance's spot crypto trading market share fell from 55% to 30% in 2023
- Monthly trading volumes dropped over 70% from $474B to $114B between January and September
- Binance and former CEO agreed to pay $3B to settle regulatory charges in November
- Many executives departed Binance in 2023, including CEO Changpeng "CZ" Zhao
- Despite declines, Binance still largest crypto exchange; OKX is second largest with 8% market share