Richard

Rocky

Coin

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 Binance has seen its market share plunge 25% this year as it battles lawsuits in the US and regulatory scrutiny across the globe.
 <img decoding="async" class="wp-image-465131 size-full aligncenter" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20596%20300'%3E%3C/svg%3E" alt="Binance market share" width="596" height="300" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/12/13/ff3768d2b319879e57c5a73aa4742d07.webp 596w, https://cdn.thebittimes.com/images/2023/12/13/ff3768d2b319879e57c5a73aa4742d07.webp 300w" data-lazy-sizes="(max-width: 596px) 100vw, 596px" data-lazy-src="https://cdn.thebittimes.com/images/2023/12/13/ff3768d2b319879e57c5a73aa4742d07.webp">
 <noscript><img decoding="async" class="wp-image-465131 size-full aligncenter" src="https://cdn.thebittimes.com/images/2023/12/13/ff3768d2b319879e57c5a73aa4742d07.webp" alt="Binance market share" width="596" height="300" srcset="https://cdn.thebittimes.com/images/2023/12/13/ff3768d2b319879e57c5a73aa4742d07.webp 596w, https://cdn.thebittimes.com/images/2023/12/13/ff3768d2b319879e57c5a73aa4742d07.webp 300w" sizes="(max-width: 596px) 100vw, 596px">
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 The world’s biggest crypto exchange saw its market share plunge from about 55% in January to 30.1% this month, according to CCData.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Our Latest Exchange Review is live
 In November: 🔹CEX spot &amp; derivative volumes hit a high since Mar'23 🔹Binance's market share dips despite higher volumes 🔹Spot &amp; derivatives volume on @OKX &amp; @Official_Upbit market rose 58.0% &amp; 45.5% to $731bn &amp; $431bnhttps://t.co/9kq6nCP6gd
 — CCData (@CCData_io) December 6, 2023
 </blockquote>
 
 <h2 id="binance-sees-exodus-of-top-executives">Binance Sees Exodus Of Top Executives</h2>
 Besides legal troubles with the US Securities and Exchange Commission and the US Department of Justice, the exchange also saw an exodus of top executives.
 After the exchange and former CEO Changpeng Zhao agreed to pay $4.3 billion to settle charges brought in the US, Zhao stepped aside as Richard Teng took over as the new CEO.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 On the AMA I was asked to take a 4 photo. I need my own thing, so I'll do the 3 instead.
 It represents my 3 commitments as #Binance CEO:
 1) Being user-focused, always 2) Working with regulators to uphold standards 3) Collaborating with partners to grow Web3 pic.twitter.com/DcJyFVj8LX
 — Richard Teng (@_RichardTeng) December 1, 2023
 </blockquote>
 
 The new leader is working to rebuilding the exchange’s tarnished reputation. He says Binance will work with regulators to uphold high standards globally, foster innovation, and provide consumer protection.
 <h3 id="strong-also-read-strong">Also Read:</h3>
 <ul>
 <li>Binance CEO Richard Teng Can’t Say Where Company HQ Is Based, Fails To Answer Other Basic Questions In First Rocky Interview Since Replacing Changpeng Zhao</li>
 <li>BNB Price Prediction: BNB Coin Slumps After CZ Steps Down As Binance CEO In DOJ Deal. Dodge Market Turbulence With This Presale In Its Final Hours</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-sees-market-share-plummet-by-25-amid-legal-regulatory-troubles-tbt73459.html">https://thebittimes.com/binance-sees-market-share-plummet-by-25-amid-legal-regulatory-troubles-tbt73459.html</a>
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Binance Sees Market Share Plummet By 25% Amid Legal, Regulatory Troubles

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