Latest developments: CEO Stephen Gregory said Binance.US is focused on growth after what he described as a two-year “hibernation” related to regulatory issues surrounding the broader Binance brand.
- Gregory said Binance.US is a separate U.S.-only entity with its own governance structure, although it shares an actual owner and common brand with Binance.com.
- He said the exchange previously held about 20% of the U.S. crypto exchange market and is aiming for a return to that level.
- Gregory said Binance.US now has an exclusive license to serve US customers.
What this means: Binance.US attempts to compete with exchanges such as Coinbase and Kraken by emphasizing lower trading costs and a wider range of products.
- Gregory said the exchange had reduced fees to “essentially a near-feeless exchange,” with a 0% maker fee and a 2 basis point taker fee.
- He said the company had kept costs low by operating with a lean team and hoped to generate revenue through services such as custody, alongside trading.
- Gregory said the exchange was rebuilding liquidity through incentives and direct outreach to retail customers, including personally reaching out to some of its top users for feedback.
