Overview

• Binance.US has resumed USD deposits and withdrawals, offering zero fees for bank transfers and enabling trading of over 160 cryptocurrencies.
• The platform had operated as a crypto-only exchange since June 2023 after losing access to banking partners due to regulatory pressures.
• The SEC's aggressive stance under former Chair Gary Gensler significantly impacted Binance.US, leading to a 75% revenue drop and staff reductions.
• A shift in the regulatory environment, including the SEC's softened approach under Acting Chair Mark Uyeda, has facilitated the platform's recovery.
• Binance.US has not disclosed its new banking partner but plans to expand partnerships in the coming months to regain market share.