Binance Loses Some Crypto Market Share to Coinbase and Bybit Amid Legal Woes
• Legal troubles for Binance allowed Coinbase and Bybit to gain crypto market share according to analytics firm Kaiko • Coinbase saw strong growth in November, possibly fueled further by news of Binance's $4B settlement • Kaiko data shows Binance losing some market share to Coinbase (non-US hours) and Bybit more broadly • While negative for Binance short-term, settlement could increase trust and help Binance maintain share long-term • Coinbase received a subpoena from CFTC related to Bybit, sparking speculation about implications