Binance US Cuts Fees to Near-Zero as Trading Volumes Collapse to 0.20% Market Share

Core Insights - Binance US has significantly reduced trading fees to near-zero in an effort to regain market share, now offering 0% maker fees and 0.01% taker fees on over 20 crypto pairs [1][3] - Despite these aggressive fee cuts, Binance US's market share has plummeted to just 0.20%, with daily trading volumes at only $15.5 million compared to competitors like Coinbase and Kraken [2][4] Fee Structure and Market Position - The recent fee reduction is Binance US's second major attempt to capture market share, following the launch of zero-fee Bitcoin trading in June 2022 [3] - The current pricing model positions Binance US as potentially the lowest-cost trading venue in the U.S., undercutting Coinbase and Kraken's fees [7] Trading Volume Decline - Trading volumes have collapsed by 99%, dropping from nearly $5 billion weekly in March 2023 to around $40 million by September 2023, largely due to legal challenges from the SEC [4] - Following the SEC's lawsuit, Binance US experienced $1.43 billion in net outflows within 24 hours as traders withdrew funds amid fears of frozen assets [5] Legal and Operational Challenges - The SEC filed multiple charges against Binance and its CEO in June 2023, alleging the operation of an unregistered securities exchange [4] - Even after the SEC dismissed its lawsuit in May 2025, trading activity did not recover significantly, indicating ongoing challenges for the exchange [6]