Binance, the world’s largest cryptocurrency exchange, has lost a quarter of its market share in the past three months as a US watchdog pursues it for alleged violation of federal laws.
The group, which says it has no headquarters, controlled 57.5 per cent of the average monthly volume on the world’s crypto exchanges at its peak in February. But that has now dropped to 43 per cent, according to research provider CCData.
The sharp decline has come as Binance runs into tougher commercial competition, greater scrutiny of its activities from US regulators, and following the end of a free trading promotion.
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