Regulatory pressure has humbled the once-mighty Bittrex and Poloniex, leaving Binance to rise

Benjamin Friedrich | The Block

Quick Take

  • Bittrex and Poloniex have seen large drops in their marketshares since the bull run of 2017, when they were leading platforms for altcoin speculation
  • Their positions as U.S.-based exchanges could continue to hurt business as they play catch-up with the country’s regulations and feel pressure to delist assets
  • In contrast, Binance seems to be thriving without the added pressure to live up to U.S. standards 

“Oh, how the mighty heroes have fallen! Stripped of their weapons, they lie dead.”

This passage from the Second Book of Samuel recounts David’s lamentation over the tragic deaths of Jewish heroes Saul and Jonathan. As described in 2 Samuel, the military veterans, who were once mightier than lions and swifter than eagles, perished tragically: Jonathan in battle and Saul by suicide.