Key Highlights
- Stephen Gregory, CEO of Binance.US, aims to capture 20% of the U.S. cryptocurrency exchange market following a two-year period of regulatory challenges
- Trading fees have been slashed to virtually nothing: 0% for makers and just 0.02% for takers on over 250 spot trading pairs
- The platform intends to seek regulatory approval for derivatives trading, perpetual futures contracts, and prediction market products
- In May 2025, the SEC dismissed its civil case against Binance entities and Changpeng Zhao
- Banking services for USD transactions were reinstated across most states in February 2025
Following two years of intense regulatory scrutiny that forced significant operational cutbacks, Binance.US is mounting an aggressive campaign to reclaim its position among America’s leading cryptocurrency exchanges.
Stephen Gregory, the exchange’s chief executive, characterized the challenging period as a regulatory “hibernation” connected to broader legal complications facing the global Binance organization. He emphasized that the platform is now shifting into expansion mode.
At its peak, Binance.US commanded approximately one-fifth of U.S. cryptocurrency trading volume. Gregory has publicly committed to reaching that benchmark once more, setting up a showdown with established competitors like Coinbase and Kraken.
According to Gregory, the company conducted direct outreach to its highest-volume traders to understand what changes would convince them to return to the platform.
Aggressive Fee Structure Powers Growth Initiative
Binance.US implemented dramatic fee reductions this April, establishing zero maker fees and taker fees of 0.02% or less across more than 250 spot markets. Certain trading pairs feature taker fees as minimal as 0.01%.
Gregory characterized the service as “essentially almost a no-fee exchange.” This pricing approach aims to increase order flow, narrow bid-ask spreads, and enhance overall market liquidity.
The operation maintains a streamlined workforce to minimize overhead expenses. Gregory indicated that custody solutions could serve as an alternate revenue source beyond transaction fees.
Binance.US maintains it operates as an independent U.S. entity with separate governance. While sharing branding and beneficial ownership with Binance.com, it holds licenses specifically for serving American customers.
Product Expansion Awaits Regulatory Green Light
Gregory revealed that Binance.US will pursue licensing for derivatives instruments, perpetual futures trading, and prediction markets. These offerings are currently unavailable on the platform.
All expansion efforts require regulatory clearance. The existing product suite encompasses spot markets, conversion services, OTC trading desk, and staking options. Service availability varies based on user location.
The regulatory environment has turned more favorable for the exchange. The SEC withdrew its civil action against Binance, Binance.US, and founder Changpeng Zhao in May 2025.
Banking access for U.S. dollar transactions was reestablished in most jurisdictions this February, following the 2023 loss of certain banking partnerships.
Stephen Gregory assumed the CEO role on March 9, succeeding Norman Reed, who transitioned to an advisory capacity. Gregory brings extensive compliance expertise to the position.
The platform still confronts substantial hurdles in restoring market depth and user confidence. Several U.S. states remain unavailable or restricted to cryptocurrency-only transactions due to varying state regulatory frameworks.
Gregory emphasized that expanding Binance-branded liquidity access for American traders ranks as a top priority. “The best customer protection is competition,” he stated.
Achieving the 20% market share objective hinges on whether competitive pricing, expanded licensing, and diversified product offerings can successfully restore trading activity.
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