摘要：CryptoexchangeBinancehasstartedtorecoveritstradingvolumemarketsharemonthsaftersettlingitscasewiththeUnitedStatesDepartmentofJusticeandpayinga$43billionsettlementfine...
Crypto exchange Binance has started to recover its trading volume market share months after settling its case with the United States Department of Justice and paying a $4.3 billion settlement fine.
According to data from crypto research firm Kaiko, Binance’s trading volume market share rose to 49% two months after the exchange settled its case with U.S. regulators. The uptick follows multi-year lows as the exchange navigated its legal issues.
Two months post-settlement, Binance's market share is recovering.
— Kaiko (@KaikoData) January 29, 2024
Volumes rose to 49%, up from multi-year lows. pic.twitter.com/Xuo4JQxpY9
Even though Binance started strong in 2023, the exchange suffered blows to its spot market share throughout the year. From having a 55.2% share in January 2023, the exchange’s spot market share dropped to as low as 34.3% in September last year, according to crypto data provider CCData.
In June 2023, analytics firm Nansen reported that Binance experienced a net outflow of $2.36 billion, while data aggregator DefiLlama reported a larger figure of $3.35 billion in funds flowing out of Binance. However, Binance’s former CEO, Changpeng Zhao, claimed that the data may be inaccurate as third-party analytics firms measure changes in assets under management (AUM) as outflows.
Despite the blows to its market share, Binance claimed that it gained 40 million more users in 2023. The exchange highlighted that this was nearly a 30% increase compared to 2022 and said they experienced growth in their “key services.”
Related: Binance settles with US government: Timeline of enforcement actions
In a statement sent to Cointelegraph, a Binance spokesperson said that the exchange is focusing on its users and is moving into a new chapter. They wrote:
“At Binance, our focus has always been on putting users at the center of every decision we make. As a result, users can continue to have confidence in our platform as we move into a new chapter of Binance’s story.”
On Nov. 21, U.S. officials announced a $4.3 billion settlement with Binance. Attorney General Merrick Garland said in a press release that the amount would cover “civil regulatory enforcement actions” by government departments, including the Treasury and Commodity Futures Trading Commission (CFTC)
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