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Let the crypto fee wars commence.
On Wednesday, Binance.US—the soon-to-be three-year-old cryptocurrency exchange—effectively eliminated fees for spot Bitcoin trading on its platform so long as customers do so using U.S. dollars, Tether, USD Coin, or Binance USD, a first-of-its-kind move stateside. “Since our inception, the ethos behind Binance.US has been to be the lowest cost provider,” CEO Brian Shroder says. “What we wanted to do with this move is solidify ourselves as the global leader in pricing.”
The American offshoot of the world’s largest crypto exchange, Binance, very well may have ignited a long-awaited race to the bottom in the crypto world that is now set to play out over the coming months and years as well, though.
Wall Street has long warned that crypto trading fees were headed for zero eventually, a potential...
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