Latest news: CEO Stephen Gregory said Binance.US is focused on growth after what he described as a two-year “hibernation” tied to regulatory issues surrounding the broader Binance brand.
- Gregory said Binance.US is a separate US-only entity with its own governance structure, although it shares a common beneficial owner and brand with Binance.com.
- He said the exchange previously owned about 20% of the US cryptocurrency exchange market and aims to get back to that level.
- Gregory said Binance.US is now exclusively licensed to serve US customers.
What does this mean: Binance.US is trying to compete with exchanges like Coinbase and Kraken by emphasizing lower trading costs and a broader range of products.
- Gregory said the exchange has reduced fees to “essentially almost a no-fee exchange,” with 0% maker fees and 2 basis point taker fees.
- He said the company has kept costs low by operating with an agile team and hopes to generate revenue from services such as custody along with trading.
- Gregory said the exchange is rebuilding liquidity through incentives and direct outreach to retail clients, including personal contact with some of its largest users for feedback.
