Binance Overtakes Coinbase: Now Holds the Most Bitcoin in the World
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Binance confirms its supremacy over Coinbase and other exchanges. In addition to its continued growth, it is now the exchange that holds the most Bitcoins in the world.
The fortunes of Binance and Coinbase were in stark contrast to each other as the bear market hit. Binance and its CEO Changpeng Zhao made headlines in the crypto press through a show of force and continued hiring. Coinbase and its CEO Brian Armstrong on the other hand raised a multitude of concerns. These included waves of layoffs, pauses in recruitment and even rumors of possible bankruptcy.
Binance continues to chart its course and further establish itself as the main player in the crypto industry, with endless influence. Its BNB token is 5th in terms of market cap and its stablecoin is in 6th place.
While most companies are imposing suspensions and payment limits on their users, Binance continues to take measures that show more cost savings than fee disbursements.
Indeed, Binance announced several weeks ago that more than 2,000 jobs were available at the company, with a desire for growth and expansion exacerbated by the current bear market. At the same time, while many companies or exchange platforms suspended certain commercial agreements, Binance multiplied partnerships. This was through a partnership with the Portuguese star Cristiano Ronaldo. Ronaldo has the most followed Instagram account in the world with more than 400 million followers.
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