Binance, the leading cryptocurrency exchange, experienced a sharp decline in spot volume, dropping from $474 billion in January to $114 billion in September. Regulatory pressures, including a nearly $3 billion settlement with U.S. authorities, and high-profile exits, including CEO Changpeng Zhao, have impacted its market share, now at 30.1%. Despite these challenges, Binance remains the market leader, with closest competitor OKX growing to an 8% share.
