Coinbase shares fall after rival Binance.US drops spot bitcoin trading fees
— Trading, Drops, Rival, Spot, Volumes, Usd, Binanceus, Bitcoin, Revenue, Exchange, Fall, Fees, Coinbase, Shares, Crypto — 1 min read
Binance.US said it will allow users to make spot bitcoin trades for the U.S. dollar and stablecoins tether, USD Coin and Binance USD without paying spot trading fees. The move comes amid an extended bearish period for cryptocurrencies, which has been part of the broader sell-off in risk assets that's been taking place all year. Last weekend, bitcoin hit a new 2022 low, falling below the $18,000 level for the first time since December 2020. As a result of the continued declines, trading volumes on crypto exchanges have been sliding. Shares of Coinbase were down 9.7% on Wednesday, and Robinhood slipped by less than 1%. The company is currently testing a subscription service for customers called 'Coinbase One Source