Binance market share slumps, its US affiliate shrinks on regulatory woes

Binance market share slumps, its US affiliate shrinks on regulatory woes

FILE PHOTO: A smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The market share of Binance, the world’s largest cryptocurrency exchange, and its U.S. affiliate have shrank this year, as they battle an onslaught of regulatory crackdowns.