Binance’s dominance in the crypto exchange space is now so str | Binance News

Binance’s dominance in the crypto exchange space is now so strong, you kind of have to feel sorry for its competitors.

While its competitors like Coinbase undergo mass layoffs, Binance has announced a mass hiring plan – which could see its workforce expanded by 30% over the course of 2023. The company already gained 8k employees over 2022.

Binance reached the impressive milestone of commanding more than two thirds of the global crypto exchange market last month, with its closest competitor, Coinbase, only controlling 8.2%. The collapse of FTX was one factor in Binance’s 2.6% market share growth from Q3 to Q4 2022.

In other news, it looks like Binance might be able to acquire Voyager’s assets after all – with a judge giving initial approval of the $1bn acquisition deal. While some still have concerns surrounding Binance’s financials – it can’t be denied that it’s on a roll right now.