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Despite facing regulatory challenges, Binance has retained its position in the industry, with only a marginal decrease in its market share, according to TokenInsight. Binance experienced a 5% decline in market share , dropping from 54.2% to 48.7%. This shift followed the decision of Binance’s founder, Changpeng Zhao, to step down as CEO as part of a $4.3 billion settlement with the U.S. Department of Justice, according to recent research from TokenInsight. Crypto exchanges market share | Source: TokenInsight As per data, other cryptocurrency exchanges such as OKX and Bybit appeared to be significant gainers in the market, with OKX increasing by 4.3% in market share to 15.7%, while Bybit saw a rise of 2.2% up to 11.6%. Analysts added that despite Binance facing troubles with U.S. regulators last year, traders “do not seem to have lost confidence in centralized exchanges.” “These events did not have a massive impact on the market landscape as the FTX co...

Canaan reports significant mining loss in Q3 2023 but reflects a resilient year-on-year performance. Bitcoin mining solution provider Canaan has reported a total revenue of $33.3 million and a net loss of $80.1 million for Q3 2023. The revenue , primarily from the sale of 3.8 million Thash per second of computing power, represents a year-over-year increase of 8.6% despite a decrease from previous quarters. .@canaanio Reports 48% Decline in Q3 #Bitcoin Miner Sales$CAN #BitcoinMining https://t.co/GSmM25fn0D — TheMinerMag (@TheMinerMag_) November 28, 2023 You might also like: Bitcoin advocates cite BTC mining as key tool for clean energy and grid balance A significant development in the quarter was the launch and pre-sales of the new A14 product series, characterized by high computing power and energy efficiency. This release has been well received, indicating growing customer interest. However, the company faced increased pricing competition. Canaan also obtained ...