Fridtjof Nansen

• -          Among the Top 5 CEXs, Bitget had the second-highest increase in market shares, growing by 1.81% to reach 8.7%.
• -          BGB token became the best-performing CEX token in 2023 with an 80% surge in trading volume, outperforming BTC year-to-date;
  -          Bitget was the only CEX to increase its futures trading volume in 2023 following the FTX collapse.
• According to the TokenInsight Crypto Exchange Report 2023 Q2 , Bitget ranked among the Top 4 exchanges, collectively accounting for over 85% of the total market.
• In the spot market, Bitget doubled its market share to 6% in Q2.

• This isn’t the first time Binance and Coinbase have caught the SEC’s attention – it’s not even the first time this year.
• But the latest charges are much more serious, including accusations that the exchanges are operating without the correct registration.
• He called for legislation that “allows fair rules for the road to be developed transparently and applied equally, not litigation”.

Counting the costs

• It argues that XRP, Ripple’s cryptocurrency token, is an unregistered security.
• Ripple disputes this and expects to spend US$200 million (£156 million) fighting the suit, according to its CEO.


According to the SEC, the first criterion is easily satisfied with crypto because fiat money or other digital assets are being exchanged. Likewise, the “common enterprise” test is also easily met when trading cryptocurrencies. The third criterion largely turns on whether digital assets come with an “expectation of profit to be derived from the efforts of others”.

Why does this matter?

• These platforms enable investors to buy and sell cryptocurrencies easily without the need for expert knowledge of how blockchains work.
• Coinbase customers pulled about US$1.28 billion from the exchange after the news broke, according to initial estimates from data firm Nansen.
• In the meantime, customers withdrew around US$780 million from Binance and its US affiliate in the 24 hours following the lawsuit, according to Nansen.
• The Bitcoin market has rallied since, although Binance.US has stopped trading in a number of its cryptocurrencies.

Global coordination on crypto rules

• But regulators in other major financial markets could follow the SEC’s lead when it comes to crypto rules.
• But these rules will only affect the marketing of cryptocurrencies in the UK, so it’s a relatively small step.
• Without this, regulators like the SEC will struggle to corral the growing global crypto market.

• The collapse has resulted in users demanding increased transparency and enhanced protection measures for their deposits from centralized exchanges.
• Many leading exchanges have responded by focusing on increasing transparency and security.
• Another important trend Nansen highlight is the exchange's track record, which serves as proof of legitimacy and proper security measure implementation.
• The majority of CEXs have experienced a hack in their lifetime with some never fully recovering their market share.

• The TRON DAO team is thrilled to announce a partnership with Nansen , a prominent provider of blockchain data and research trusted by the world’s leading crypto teams and enthusiasts.
• In-depth, data-defined, insights about TRON user activity will now be available via Nansen's powerful suite of tools.
• TRON is the preferred blockchain platform , ranking first in daily user activity, volume of transactions, and USDT stablecoin circulation.
• Furthermore, Nansen Pro's macro dashboard provides a comprehensive overview of TRON, empowering users with real-time, on-chain insights.