Binance.US, the American arm of the world’s largest exchange, has experienced positive growth in its trading volume amidst regulatory scrutiny. Despite the United States Commodity Futures Trading Commission’s (CFTC) crackdown on its parent company, Binance.US CEO Changpeng “CZ” Zhao shared the platform’s growth metrics.
CZ revealed that Binance.US has achieved approximately 41% of the trading volume of Coinbase, the largest crypto exchange firm in the country. Moreover, Binance.US has set a new all-time high (ATH) in trading volume, marking a significant milestone for the exchange.
Despite adversity to its growth pursuits, Binance.US has remained resilient. While its bid to acquire the assets of Voyager Digital is currently delayed due to a temporary halt granted by a federal judge in the case, members of the trading platform appear unfazed. As the world’s biggest exchange, Binance has faced increased scrutiny from regulators and the media.
The CFTC probe alleged that the exchange self-traded with 300 accounts on its platform and facilitated crimes, prompting many to call for users to withdraw their funds from the exchange. Despite over $2 billion in outflows recorded, Binance.US quickly regained its pace and pushed its U.S. arm to print the current ATH in trading volume.
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