In the last few weeks, the Binance exchange has had to weather a storm, settling with the US Department of Justice (DOJ), alongside other US regulatory agencies, to pay a $4.3 billion fine for breaching US laws on money laundering and sanction violations.
In addition, the exchange saw its CEO and one of the crypto’s most prominent personalities, Changpeng “CZ” Zhao, step down from his position. While Binance has managed to retain its position as the world’s leading crypto exchange, some of its rivals have emerged as beneficiaries of this crisis, thus increasing their stake in an ever-expanding crypto market.
Coinbase, Others Record Gains Amidst Binance Woes – Kaiko
Following news reports of Binance’s troubles with the US government, America’s largest crypto exchange, Coinbase has experienced more traction in the last few weeks, emerging as one of the winners in this debacle.
According to blockchain research firm Kaiko, Coinbase has seen its market stock – COIN – g
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