Binance.US market share drops beneath 1% amid regulatory lawsuit: Report

United States-based cryptocurrency trade Binance.US has reportedly seen its market share drop greater than 20% amid a lawsuit from federal monetary regulators.

In line with a July 5 report from Reuters citing knowledge from Kaiko, the market share of Binance.US within the U.S. dropped from greater than 22% in April to roughly 0.9% as of June 26. The U.S. Securities and Change Fee (SEC) filed a go well with in opposition to Binance.US, Binance and Binance CEO Changpeng “CZ” Zhao for allegations associated to working as an unregistered securities trade in June, whereas the Commodity Futures Buying and selling Fee had already filed an identical lawsuit in opposition to Binance and CZ in March.

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