Binance.US has announced that it will allow users to trade spot bitcoin BTC 2.18% in USD, Tether, USD Coin and Binance USD without paying spot transaction fees. Shares of its biggest rival Coinbase tumbled this week after the announcement. Three closed down 9.7%.
CNBC analysis believes that Coinbase’s main source of income is transaction fees, but as Robinhood and FTX US both try to launch zero-commission trading services, it will bring more pressure to Coinbase.
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