Binance.US once commanded roughly 20% of the US crypto trading market. Then came the SEC lawsuit, a string of state-level restrictions, and a slow-motion collapse that brought that share to nearly zero. Now, under new leadership, the exchange says it wants all of it back.
Stephen Gregory, who took over as CEO in March 2026, laid out a rebuilding strategy on July 13 that targets a return to that 20% market share. The plan hinges on product diversification, regulatory credibility, and a clean break from the global Binance brand’s lingering baggage.
From dominant to dormant
Rewinding to 2022, Binance.US was a legitimate force in American crypto trading. It had the liquidity, the brand recognition, and the fee structure to compete with Coinbase and Kraken for retail and institutional flow alike.
Then 2023 happened. The SEC filed suit, alleging a litany of securities violations. State regulators piled on with their own restrictions. Users fled. Liquidity dried up.
