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Binance Keeps Its Solid Position

The troubling recent news surrounding Binance seems to have not affected its position as a leader among all cryptocurrency exchanges. According to data presented by Kaiko, the trading venue has kept a market share of less than 50%, with the remaining percentage belonging to 23 other marketplaces. 

It is worth noting that Binance’s market share plunged to almost 40% a few days ago when the company settled regulatory issues with the US Department of Justice and agreed to pay a whopping fine of $4.3 billion. Moreover, the former CEO of the organization – Changpeng Zhao (CZ) – resigned from his post, with Richard Teng taking the helm.

Binance’s Recent Amendments

Shortly after the news of the Binance/US DOJ saga made the headlines, the exchange decided to delist four crypto assets from its platform. Those include BitShares (BTS), (PERL), Tornado Cash (TORN), and Waltonchain (WTC), as the changes will become effective on December 7.

Some of the affected tokens, such as PERL and TORN, have crashed significantly following the announcement. The former has plunged around 65% in the past week, whereas the latter is down 50%.

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By Team