Alright, pop quiz:

Q: What happens when your largest competitor goes bankrupt?
A: You take the majority of the market, that's what!

Q: What happens when the SEC takes aim at your native stablecoin?
A: You somehow make even more money.

What're we on about?

Right now, 96% of Bitcoin trading is taking place on Binance.

A large part of this dominance is probably thanks to the collapse of Binance's biggest competitor, FTX.

(Makes sense).

On a shorter time scale, it looks like it might be thanks to the SEC's attack on their BUSD stablecoin.

But how does that even work?

The theory is that investors didn't love having to trade using BUSD (they preferred other stablecoins, like USDT).

And now that BUSD is no longer the only option given to traders on Binance, they're coming back to the platform.

There could be merit to the theory. Just look at this graph:

...so Binance wins, even when it loses?

Wild!

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