Bernstein: Binance will maintain its global dominance after settling with US government

Brokerage firm Bernstein said in a research note on Wednesday that while Binance experienced less than $1 billion in outflows following news of its settlement with the U.S. government, customers did not show up. Major scare; it remains the world’s dominant cryptocurrency exchange, hosting $67 billion of customer funds. Analysts led by Gautam Chhugani wrote: “Even during the crisis, Binance has maintained high credibility among non-U.S. retail investors.” But Bernstein said Binance will remain "an important entity in markets outside the United States," but noted that competition is expected to intensify from companies such as Coinbase and new compliant exchanges in markets such as Hong Kong and Singapore. (CoinDesk)