Binance.US has announced that it will allow users to trade spot bitcoin 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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