Binance.US is aiming to reclaim a significant stake in the American cryptocurrency market after emerging from a two-year period marked by regulatory challenges. The platform’s recovery plan is led by Stephen Gregory, who became CEO in March and brings a background in compliance. Under his leadership, Binance.US is targeting a return to 20% of the US crypto exchange market, a level previously reached at its peak.
Revamped strategy and new leadership
Stephen Gregory took over as chief executive on March 9, assuming the role from Norman Reed, who now serves as an adviser. Gregory described the past two years as a time of enforced pause for Binance.US, citing external regulatory obstacles as the reason for operational slowdowns that affected the wider Binance group.
In outlining the new vision, Gregory identified direct communication with the company’s key previous clients as an immediate focus. This outreach, he said, is intended to understand which incentives and changes would convince major traders to return to the platform, strengthening market activity and rebuilding trust.
Fee reductions and streamlined operations
A major component of the comeback plan is a highly competitive fee schedule introduced in April. Binance.US now offers zero fees for makers and taker fees as low as 0.02% on over 250 spot trading pairs, with some pairs featuring taker fees of just 0.01%.
Gregory described this pricing strategy as “virtually a fee-free exchange,” adding that it is designed to grow order flow, tighten bid-ask spreads, and boost market liquidity.
The company operates with a lean team to maintain operational efficiency. Gregory also pointed out that custody services may become a secondary income stream alongside its core trading business.
Binance.US is the American-licensed affiliate of Binance.com, sharing branding while operating independently for US customers with its own governance and leadership structure.
| Exchange | Maker Fee | Taker Fee | Spot Pairs |
|---|---|---|---|
| Binance US | 0% | 0.01–0.02% | 250+ |
| Coinbase | Up to 0.4% | Up to 0.6% | 200+ |
| Kraken | Up to 0.16% | Up to 0.26% | 100+ |
Product expansion and regulatory updates
Gregory stated that Binance.US is preparing for broader service offerings, including derivative trading, perpetual futures contracts, and prediction market platforms. However, these additions depend on the acquisition of appropriate US regulatory licenses and approvals, which the company is currently seeking.
The existing suite of services includes spot trading, crypto conversion, over-the-counter trades, and staking, though access to some features remains limited by geographic regulatory restrictions.
Mini dictionary: Perpetual futures contracts, unlike standard futures, do not have an expiration date, allowing traders continuous exposure to an asset. They use funding rates to stabilize trading prices close to the underlying spot market price.
This comeback attempt comes after notable progress in regulatory matters. In May 2025, the Securities and Exchange Commission ended its civil proceedings against Binance, Binance.US, and Binance founder Changpeng Zhao. Additionally, USD deposit and withdrawal functions were restored for most states in February 2025, following previous banking restrictions in 2023.
Nevertheless, challenges remain. Binance.US continues to face limitations in several states, where services are either restricted or limited to crypto-only transactions due to varying regulatory requirements.
Gregory signaled that expanding Binance-branded liquidity for American traders remains a leading priority, noting that increased competition drives stronger protections for customers.
Whether Binance.US can reclaim its former 20% market share will depend on the ability to attract customers with its reduced fees, expand products through regulatory approval, and rebuild user confidence amid ongoing market competition.
