Coinbase and Bybit significantly increased their market share in centralized cryptocurrency exchanges (CEX) after Binance settled claims with U.S. regulators. This is evident from the analysis presented in the Kaiko company report.

On November 21, Binance paid a fine of $4.3 billion, reaching an agreement with regulators. Subsequently, CEO Changpeng Zhao paid a personal fine of $50 million and resigned. The exchange's leadership passed to Richard Teng.

Focusing on bitcoin, experts recognized Bybit as the "main winner" after Binance settled claims with U.S. authorities. Bitcoin trading volumes on Bybit increased by more than 20% within 16 hours after these events.

Experts noted a significant increase in Coinbase's shares, with capitalization increasing by 75% in November and by 250% since the beginning of the year. Particularly, Coinbase's share grew outside U.S. trading hours after resolving issues with Binance, while OKX showed the most significant growth at the start of trading in Western Europe.

Experts noted a significant increase in Coinbase's shares, with capitalization increasing by 75% in November and by 250% since the beginning of the year. Particularly, Coinbase's share grew outside U.S. trading hours after resolving issues with Binance, while OKX showed the most significant growth at the start of trading in Western Europe.

The platform maintained its liquidity even after more than $1 billion was withdrawn within a day. Experts note the recovery of market depth, with Bybit narrowing the spread gap and Coinbase slightly lagging behind. Analysts advise against making hasty conclusions due to the lack of serious consequences for Binance.

According to experts, this "saga" turned out to be positive for all parties: the U.S. government achieved its goal, Binance can continue its operations, and other platforms gained opportunities for growth.