Coinbase shares fall after rival Binance.US drops spot bitcoin trading fees - 23 iunie 2022
Coinbase (US.COIN) shares fell almost 10% on Wednesday after rival crypto exchange Binance.US said it’s dropping certain trading fees for customers.
Binance.US, the U.S. affiliate of the largest crypto exchange in the world by trading volume, said it will allow users to make spot bitcoin trades for the U.S. dollar and stablecoins tether, USD Coin and Binance USD without paying spot trading fees.
Shares of Coinbase were down 9.7%. Robinhood (US.HOOD) slipped by less than 1%.
Last weekend, bitcoin hit a new 2022 low, falling below the $18,000 level for the first time since December 2020. As a result of the continued declines, trading volumes on crypto exchanges have been sliding.