The American division of the cryptocurrency exchange Binance introduced zero trading fees for four pairs with bitcoin.
The new terms do not depend on trading volume and apply to:
Zero fees will remain indefinitely . Binance.US CEO Brian Schroeder explained the initiative as a desire to “revolutionize the approach to trading fees and increase the availability of cryptocurrencies at a time when it is needed most.”
The platform representatives did not rule out that zero fees will be extended to others in the future trading pairs. More than 100 assets have been listed on the platform.
The decision came amid a decline in client activity amid a downturn in the market.
Shares of rival platform Coinbase opened trading down 7.1%. At the time of writing, the rate of decline in quotes has decreased to 5%.
15-minute Coinbase stock chart. Data: TradingView.
Recall that in April 2022, Binance.US raised $200 million during a seed round at a $4.5 billion valuation.
The other day it became known that the company intends to raise an additional $50 million.
Earlier, Binance CEO Changpeng Zhao said that crypto winter is the right time to hire new employees and further develop the business.
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