Binance returns market share

What happened was, in principle, long overdue.

Binance, which was the victim of regulators, somehow quietly returned to the leading position. At the beginning of the year the attack on Binance and CZ began. One by one lawsuits from US and European regulators followed, and criminal investigations were launched against CZ. 

Senior managers left Binance for fear of legal consequences. Customers were also wary of the company’s future. CZ resisted until the last. Having actually lost the American market, Binance concentrated on Asia, Africa and Latin America. Some of the regional expansion was successful, but pressure from regulators was exerted and the CZ was threatened with arrest.

Finally, the CZ failed and accepted the terms of the surrender.

The Crypto Exchange paid the US Department of Justice a $4.3 billion fine and CZ ceded the management of the exchange to the manager who agreed with the authorities. This established control over the largest crypto exchange.

However, by the time of the transaction with the authorities Binance was not the first. Competitors actively took the market shares. When CZ paid fines, Binance’s share fell to 32%.

Once the stock exchange came under government control, market share recovered rapidly. Customers were coming back, new customers were coming, the pressure stopped, and Binance was up to 49%.

Everything that happens with Binance and CZ can be called unfair competition. CZ is not an angel, and Binance is not a charity, but they have worked in the market, competing under equal conditions. But the government machinery of several countries worked against them. 

But when the state showed favor, business started to flourish.

Unfortunately, such concepts as business freedom and justice do not work in relations with the state.

This is the system in which we have to live and work, and it is a feature of our fiat system.  This will continue until our civilization moves to real decentralization. I hope it will happen soon.

#BinanceComeback #RegulatoryChallenges #CryptoMarketShift #CZResilience #DecentralizationDreams