Binance.US, the American branch of the global cryptocurrency exchange, is facing a significant drop in trading volume due to intensifying conflicts with US regulatory bodies. As per data from independent research firm CCData, the monthly trading volume of Binance.US has decreased by 98% from January to August 2022, with further reductions expected for September.
In the first half of September, the exchange registered a trading volume of merely $115.7 million, a sharp decline compared to $286 million in August. The bulk of this reduction happened after March, when Changpeng Zhao, the founder of Binance, was charged with violations by the US Commodity Futures Trading Commission.
