Binance is very well known in the crypto trading industry and undoubtedly the exchange has done pretty well in this market in the last few years. We have seen how the US government has played with this exchange and now the founder of this exchange is still in the US dealing with consequences by the authorities.
Although the exchange has done the settlement which is the biggest ever in the industry but it still looks like things are not on the right track. Probably the US authorities are too harsh on this exchange and its founder and trying to put it down. Or maybe we can say that the exchange is so big and that is why the authorities in us are not fair.
Because of all these happening around in US the exchange has to deal with the deep units overall market share. Asper one of the research and data shared the exchange has seen a dip of about thirty percent in its trading volume this year. I think the bigger impact is coming from the US however the exchange is pretty much reliable and trustworthy in other countries.
The exchange's monthly spot volume fell to $114 billion in September from nearly $500 billion in January amidst a regulatory crackdown in the U.S.
It happens in the business and not the first time happening with this exchange only however this might also open the door for other exchanges to establish. One must understand that you can only get more users and their trust if you try not to play with them and provide more innovative solutions. Believe it or not but the exchange has never played with user funds and not even a single case has been found against them where the user funds are misused.
I hope this is a temporary issue and the exchange founder and team is able to find the solution to overcome this problem.
Thanks