Binance Loses 20% Market Share After Rolling Back Zero-fee Trading Campaign. Where Did It Go?

• Binance has lost 20% of its market share since reserving its zero-fee trading promotion for BTC/TUSD.
• The lost market share has not gone to leading U.S.-based competitors as some would expect.
• A researcher has said the SEC is to blame for consumers ignoring U.S.-based crypto trading venues.

Binance is the world's leading crypto exchange by 24-hour trading volume despite being at least five years younger than its biggest competitors, Coinbase and Kraken. One of the reasons for Binance's meteoric rise was its heavy focus on marketing strategies.

One such strategy was its zero-fee trading campaign for Bitcoin pairs, which launched in July 2022 despite a bear market that saw its...

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