Latest developments: CEO Stephen Gregory said Binance.US is focused on growth after what he described as a two-year “hibernation” tied to regulatory issues surrounding the broader Binance brand.

• Gregory said Binance.US is a separate U.S.-only entity with its own governance structure, though it shares a common beneficial owner and brand name with Binance.com.
• He said the exchange previously held roughly 20% of the U.S. crypto exchange market and is targeting a return to that level.
• Gregory said Binance.US is now licensed exclusively to serve U.S. customers.

What this means: Binance.US is trying to compete with exchanges such as Coinbase and Kraken by emphasizing lower trading costs and a broader product lineup.

• Gregory said the exchange has reduced fees to “essentially almost a no-fee exchange,” with 0% maker fees and 2-basis-point taker fees.
• He said the company has kept costs low by operating with a lean team and expects to generate revenue from services like custody alongside trading.
• Gregory said the exchange is rebuilding liquidity through incentives and direct outreach to retail customers, including personally contacting some of its top users for feedback.