Coinbase, Binance enjoy market share gains after FTX demise

Coinbase and Binance have seen a bump in market share following FTX’s collapse. Coinbase’s share of the fiat exchange market has nearly doubled, up to 40% from 22.8% in September.

In addition, the trading volume on Binance also increased by 30% in November 2022 after the bankruptcy of FTX. Binance’s market share for crypto-only exchanges rose to 87% in December from 82.7% in September before the demise of FTX, according to The Block’s data.