Binance, the world's leading cryptocurrency exchange, defied regulatory pressures and leadership changes to set a new trading volume record of $427 billion in December 2023, solidifying its market dominance.
A CoinGecko report shows Binance, the leading crypto exchange, stayed on top in 2023 despite tough regulations and a change in its boss. The exchange had a 43.7% market share, with trading volume rising to $427.1 billion in December 2023, a 37.5% increase from the previous month. Binance's 2023 Trading Hits $3.8 Trillion Starting the year with a 63.5% market share, Binance ended at 43.7%. Yet, it was the biggest with 52.6% of all 2023 trading volume, totaling $3.8 trillion.
Facing strict global regulations, Binance settled in November by paying a $4.3 billion fine for rule violations. CEO Changpeng Zhao (CZ) stepped down, replaced by Richard Teng. Now, CZ can't leave the U.S. due to legal issues. This short summary highlights Binance's strong standing and leadership in facing challenges, focusing on major trading volumes, leadership changes, and dealings with regulations, offering a quick look at the crypto trading world in 2023.
