How Binance.US Is Plotting Its Comeback With New Products and Lower Fees

Binance.US spent much of the last two years in what its new CEO, Steve Gregory, describes as a state of hibernation.

Considering the state of the crypto market this past year, maybe that wasn't such a bad thing. But now, with the regulatory pressure that once threatened the exchange easing and Washington taking a friendlier posture toward crypto, Gregory says Binance.US is preparing to go back on offense.

The plan is ambitious: Expand into all 50 states, introduce derivatives and prediction markets, explore banking and payment services, and win back the roughly 20% U.S. market share the company had during one of the most turbulent periods in its history.

“We’re making a big push now to sort of reenter the market and really make a push to go on the offense,” Gregory told Coinage at The Tie's Out East Summit. “The regulatory issues are behind us.”

Binance.US is currently operating in about 40 states, according to Gregory, who said he expects the exchange to be available nationwide within roughly a month and a half. At the same time, the company is rebuilding its product lineup in an effort to become more than a venue where customers simply buy and sell tokens.

“We’re going to add prediction markets,” Gregory said. “We’re going to add derivatives. And then we’re going to add hopefully some banking services and payment services as well.”

It's shaping up to be a major comeback for a company that was forced to retreat as the legal problems surrounding its international affiliate, Binance.com, spilled over into the US business. Back then, the Department of Justice and the Securities and Exchange Commission centered much of their attention on Binance and its founder for a failure to enforce anti-money laundering laws.

In what still is one of the harshest penalties ever enforced against anyone in the financial services space, Binance founder Changpeng Zhao pleaded guilty to criminal anti-money laundering violations and the company agreed to a historic $4.3 billion resolution. Zhao also served a four-month prison sentence. President Trump later pardoned CZ in 2025, after his crypto business World Liberty Financial partnered with Binance to help grow the company's USD1 stablecoin.

In the fallout, Binance's US arm saw much of its 24% U.S. market share evaporate as the company ceded state licenses and customers. Gregory's goal now is not merely to stabilize the exchange, but to reclaim that position — and eventually surpass it.

“Customers in the US chose Binance.US,” he said, looking back to the growth the company was enjoying. “We just got to get back to that original place, a little higher than that.”

That will require Binance.US to stand out in a much more competitive market than the one it previously occupied.

Coinbase has expanded beyond spot crypto trading into payments, cards, banking-like products and institutional services. Robinhood has turned crypto into an increasingly important part of a broader retail investing platform. Gemini has pushed into credit cards and prediction markets.

Gregory’s answer is to keep Binance.US firmly centered on crypto.

“With Binance, I want to always be synonymous with being a crypto exchange first,” he said. “Binance can be the crypto app and look at everything through a crypto lens.”

However, that doesn't necessarily mean limiting the platform to traditional token trading. Gregory envisions crypto exchanges evolving into something closer to financial “everything apps,” where customers can access yield strategies, derivatives, prediction markets, tokenized stocks, payments and banking services through a single platform.

Crypto, in that version of the future, becomes less of a speculative destination and more of the infrastructure underneath a broader suite of financial products. To deliver on that, Binance.US recently reduced its fees to zero for makers and two basis points for takers.

“We don’t want to gouge on fees,” he said. “We just want to do the right thing for our customers.”

But delivering the right thing for customers will look very different than what it did back in 2024. Gregory said he personally emails roughly 100 of the exchange’s top customers each week to ask what is not working and what the company should fix. The goal is to use the quieter market environment to improve the app, deposits, withdrawals and other basic parts of the customer experience before retail enthusiasm returns.

“I sort of sometimes like the bear markets because you actually get to really work on your product,” he said.

That may prove to be the most important piece of the comeback. Binance.US still carries one of the most recognizable names in crypto, access to Binance technology and a base of 1.5 million funded accounts. But brand recognition alone will not restore the position it lost.

The exchange now has to convince US traders that it is not only back, but better prepared for the next cycle than it was for the last one.

“The bones and the DNA are here in this company,” he said. “I think we should be able to get back there.”

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