Trading exchanges like most crypto-tokens continue to struggle. Binance.us is moving in a positive trend along with parent company Binance.com. Which announced they will be hiring more personnel in anticipation of growth in 2022.
Trading Fees Erased
Binance.US BNB/USD announced Bitcoin BTC/USD trading on multiple pairs will have no trading fees.
On June 22, Binance.US CEO Brian Shroder announced the U.S. cryptocurrency exchange will no longer be charging trading fees for Bitcoin traded in Tether USDT/USD, Binance USD BUSD/USD and USD Coin USDC/USD.
This establishes Binance.US as the first American exchange to get rid of trading fees for multiple Bitcoin trading pairs. As revealed by Decrypt, Shroder deemed this to be “an opportunity to revolutionize the way fees are approached in our industry, increase accessibility to crypto, and help our market and customers in a time of need.”
Bankman-Fried Takes Position in Robinhood
This endeavor seeks to ignite optimistic user sentiment as well as attract new users. Globally, competing exchanges such as Robinhood Markets Inc HOOD and Coinbase Global Inc COIN charge trading fees. Sam Bankman-Fried has taken a 7.5% position in Robinhood. Can a hostile takeover or merger be far off? Therefore, Binance.US’s announcement sets it apart from its competitors.
In the past month, Binance has also leaped ahead of competing exchanges by offering 2,000 new positions, while similar firms such as Gemini and Coinbase have announced major hiring cuts.
These business decisions indicate a strong reserve of capital, which Binance CEO Changpeng Zhao attributed to turning down making Super Bowl 2022 advertisement deals. As turbulent market conditions continue in the crypto market, Binance.US’s latest move secures its long-term customer traction and interest.
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