Crypto exchange Binance has been grappling with a series of challenges in recent months, marked by a significant drop in trading volumes, regulatory issues, and the departure of numerous top-level executives.
As of October 2023, Binance’s trading volumes fell to 50%, down from 74% in December 2022. This decline occurred as Bitcoin’s value rose to $34,000 and competitor OKX saw its market share surge over 50%.
