THE DAILY ENCRYPT

October 3, 2022

Binance.US move to remove trading fees affects Coinbase and Robinhoods Share Price

Following Binance.US' zero-fee trading announcement, Robinhood shares fell....
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Following Binance.US’ zero-fee trading announcement, Robinhood shares fell. Following the announcement by Binance.US that it will offer zero-fee trades in certain bitcoin pairs, Robinhood Markets shares dropped on Wednesday

At 9:32 AM, shares in cryptocurrency exchange Coinbase fell 5.7% to $54.22. ET according to Nasdaq via trading view. 1.1% dropped Robinhood, an alternative app for trading stocks or crypto.

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After Binance.US, an American affiliate of the popular crypto exchange Binance.US, announced it had reduced bitcoin trading fees to zero for selected pairs. All existing and new customers of Binance.US are exempt from fees when they trade bitcoin against the US dollar (USDT), USD Coin(USDC), or Binance USD ($USD).

This announcement comes as crypto exchanges face tough economic headwinds and a wider market downturn. Coinbase announced last week that it would be laying off 18% staff in order to better prepare for the difficult market conditions.

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Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".
Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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