Unchained 1080x1920

With Execs Leaving and Market Share Declining, Can Binance Survive?

The director of research at Forbes Crypto explains how Binance plans to tackle a spate of challenges in the wake of FTX’s collapse.

September 15, 2023

In the wake of FTX’s collapse, Binance – already the biggest exchange in the world by a large margin – has continued to grow. But a series of challenges, including billions of dollars worth of customer outflows, the winding down of its stablecoin BUSD, and suits with the SEC and CFTC related to its U.S. operations have challenged its market dominance. Steven Ehrlich, director of research at Forbes Crypto, joins the show to discuss how Binance has been dealing with a deluge of bad news and how it plans to forge a path forward.

Show highlights:

  • How the collapse of FTX impacted Binance and its market dominance
  • How Binance has been losing market share over the past few months
  • Why Steven believes that Binance.US is in a "very tenuous situation?"
  • Whether Binance is feeling stronger now that the SEC experienced a partial loss in the Ripple case
  • The consequences of consumers losing trust in Binance
  • The speculation around the recently filed sealed motion filed by the SEC
  • Whether Binance is following in the footsteps of FTX
  • How Binance.US needs to recuperate some market volume to increase its revenue

Thank you to our sponsors!

Guest |

Steven Ehrlich - Director of Research at Forbes Crypto.

Links |



The Block:


John Reed Stark’s post on X


Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.