Crypto

Bitget Sees Surge in Latin American Users Amidst Regulatory Pressure on Binance and Coinbase

Bitget is experiencing a significant increase in new accounts in Latin America with the region witnessing a surge in users following regulatory lawsuits against major competitors Binance and Coinbase .

Bitget is experiencing a significant increase in new accounts in Latin America with the region witnessing a surge in users following regulatory lawsuits against major competitors Binance and Coinbase .

Bitget Sees Surge in Latin American Users Amidst Regulatory Pressure on Binance and Coinbase

Latin American Users Flock to Bitget

The popular crypto exchange Bitget has reported a 43% rise in new user registrations in Latin America from June 6 to 9 which surpasses the daily averages . The growth is particularly remarkable in Brazil and Argentina where the market share has expanded significantly . Brazil saw a 54% surge in new clients which was accompanied by a 208 % increase in total deposits . Meanwhile Argentina witnessed a 33% rise in its customer base with an 87 % growth in funds that are deposited . Bitget also operates in other Latin American countries such as Venezuela, Colombia and Mexico and has seen its total deposits in the region increase by 134 % in recent days .

 

Legal Developments in the United States Shake Crypto Industry

The flood of new users on Bitget happened after recent legal developments in the United States . The SEC filed lawsuits against Binance and Coinbase and accused them of several violations . Binance faced 13 charges including the alleged sale and offer of securities without proper registration . Coinbase was sued for offering unregistered securities and running as an unregistered security broker since 2019 . These legal actions have had a great impact on the crypto industry which led users to explore alternative platforms like Bitget .

 

Outlook and Opportunities in the Crypto Industry

Bitget is still optimistic about the future of the cryptocurrency business despite the regulatory pressure that big exchanges are currently experiencing . The corporation thinks that beneficial laws in places like Hong Kong, Dubai and Singapore together with potential business opportunities will promote the consolidation and growth of the sector . The managing director of Bitget Gracy Chen voiced his belief that the crypto sector will emerge as one of the strongest in the current economy .

 

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Taylor Aven

Financial Writer Hello there, my name is Taylor and I'm a fintech senior living in France. I'm passionate about all things related to finance and technology, especially the exciting world of crypto. As a writer covering the fintech industry, I'm dedicated to keeping my readers informed about the latest developments and trends. I believe that crypto and blockchain technology have the potential to revolutionize the way we conduct transactions and interact with financial systems, and I'm committed to bringing this information to my readers in a clear and accessible way. When I'm not writing about finance and tech, I enjoy a variety of hobbies and interests. I'm a big fan of traveling and love to explore new places and cultures.

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