Binance’s Grip on Crypto Loosens as Market Crash Rattles Faith
Binance Holdings Ltd. once controlled crypto trading to a degree that would be unthinkable in traditional markets.
The exchange’s dominance deepened after rival FTX collapsed in 2022, with Binance at its peak commanding 77% of global Bitcoin spot volume and 76% in crypto derivatives, according to data from Kaiko and CoinDesk.