Binance US targets 20% market share with near-zero fees after two-year regulatory hibernation

Binance US wants its old throne back. The exchange, which once commanded roughly 20% of the US crypto trading market, has unveiled an aggressive comeback strategy built on near-zero fees and a product roadmap that includes derivatives, perpetual futures, and prediction markets.

CEO Stephen Gregory, who took the helm on March 9, 2026, laid out the plan in a CoinDesk interview. The core pitch is simple: make trading on Binance US so cheap that users have almost no reason to go elsewhere.

The fee gambit

Here’s what Binance US is now offering: 0% maker fees and 0.02% taker fees across all spot trading pairs, for every user. No tiers, no volume requirements, no fine print. In English: if you’re adding liquidity to the order book, it’s free. If you’re taking it, you’re paying two cents per $100 traded.

The fee structure applies universally, which is a deliberate choice. Most exchanges use tiered pricing that rewards whales and leaves smaller traders paying higher rates. By flattening the structure, Gregory is making a clear play for the retail crowd, the same users who largely abandoned the platform during its regulatory troubles.

What went wrong, and what changed

To understand why Binance US needs a comeback at all, you have to rewind to 2023. That year, Binance’s parent entity reached a landmark $4.3 billion settlement with US federal authorities over compliance failures. The fallout was severe.

Binance US entered what Gregory has called a “hibernation” period. Trading volumes cratered. Banking partners pulled back. Leadership churned. The exchange went from being one of the most liquid venues in the US market to an afterthought in a space that was simultaneously exploding with new entrants and growing institutional interest.

Norman Reed, Gregory’s predecessor as CEO, transitioned to an advisory role when Gregory stepped in this past March. The new CEO inherited a platform that was operational but diminished, with compliance infrastructure that needed serious reinforcement and a reputation that needed rebuilding from the ground up.

Gregory has leaned into the compliance narrative rather than running from it. The exchange’s post-settlement governance overhaul is being framed not as a weakness but as a foundation. The argument goes something like this: Binance US has already been through the regulatory gauntlet, paid its dues (literally, to the tune of billions), and now operates with guardrails that newer or less-scrutinized competitors haven’t yet had to build.

The product expansion play

Fees alone won’t get Binance US back to 20% market share. Gregory knows this, which is why the exchange is pursuing licenses to offer derivatives, perpetual futures, and prediction markets.

Gregory suggested that the current regulatory climate might be more receptive to these products. That’s a nod to the broader shift in Washington, where crypto-specific legislation has progressed further than at any point in the industry’s history.

The revenue model Gregory is describing is essentially: give away trading, charge for everything else. Custody fees, premium products, derivatives commissions, and potentially staking or lending services could all contribute to a diversified revenue stream that doesn’t depend on spot trading margins.

What this means for crypto investors

The most immediate impact is competitive pressure on fees across the US exchange landscape. When the second-largest global crypto brand starts offering near-zero trading costs, every competitor has to respond. Retail traders stand to benefit regardless of which platform they use, because the floor on trading costs just dropped.

The derivatives licensing push is the one to watch most closely. If Binance US manages to offer perpetual futures to US retail traders before its major competitors, the 20% target starts looking less like aspiration and more like a floor. If those licenses don’t materialize, the exchange is left competing primarily on spot trading fees that are already near zero.

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