Binance.US has set a goal of reclaiming 20% of the U.S. crypto trading market after two years of regulatory setbacks. 

Chief executive Stephen Gregory said the exchange has restarted its growth strategy and plans to rebuild customers, trading activity and liquidity.

Gregory described the period as a two-year “hibernation” linked to regulatory pressure around the Binance brand. He said Binance.US remains a separate U.S.-only business with its own governance, although it shares a brand name and beneficial owner with Binance.com.

Binance.US sets a 20% market share target

In an interview published by CoinDesk, Gregory said Binance.US once controlled about 20% of the U.S. exchange market. The company wants to return to that level by attracting retail traders and improving prices through stronger order-book liquidity.

Binance US Plots Comeback With 20% U.S. Market Share Target

Binance US CEO Stephen Gregory said the company is restarting growth after a two-year regulatory setback and plans to reclaim about 20% of the U.S. crypto trading market. Binance US, the U.S. affiliate operating under… pic.twitter.com/IogW3KSez0

— Wu Blockchain (@WuBlockchain) July 14, 2026

Advertisement

The target places Binance.US in closer competition with Coinbase and Kraken, which expanded their positions while the platform dealt with legal pressure and reduced services. Gregory said the exchange contacted its largest customers directly to ask what would bring them back.

Lower trading fees lead the liquidity push

Binance.US has made low fees a central part of its comeback plan. The exchange introduced 0% maker fees and taker fees of 0.02% or less across more than 250 spot trading pairs in April. Select pairs offer a 0.01% taker fee.

Gregory called the platform “essentially almost a no-fee exchange.” He said incentives and lower costs could encourage more orders, narrow spreads and improve trading conditions. As previously reported, Binance.US cut spot fees in April as it sought to challenge Coinbase and Kraken on price.

Derivatives and prediction markets remain on the roadmap

The exchange also plans to move beyond spot crypto trading. Gregory said Binance.US may seek licenses for derivatives, perpetual futures and prediction markets as U.S. agencies expand oversight of digital asset products.

Those products are not yet available through the platform, and their launch depends on regulatory approval. Binance.US lists spot trading, conversion, over-the-counter services and staking among its main products. The company also operates under state and federal registration requirements, with some services restricted by location.

Gregory said a broader product range could create new revenue sources as trading fees fall. He also identified custody as a possible source of income. The company has kept a lean workforce while rebuilding its offering.

Regulatory changes support the rebuilding effort

Stephen Gregory became Binance.US CEO on March 9, replacing Norman Reed, who stayed as an adviser.The company selected the compliance executive as it moved from stabilizing operations toward renewed growth.

Moreover, the regulatory backdrop has changed since the platform lost access to some banking services in 2023. Binance.US restored U.S. dollar deposits and withdrawals for most supported states in February 2025. The SEC later dismissed its civil lawsuit against Binance, Binance.US and founder Changpeng Zhao in May 2025.

The exchange still faces the task of rebuilding market depth and customer trust. Its official support pages show that some U.S. states remain unsupported or offer crypto-only services because approvals differ by location.

Gregory said Binance.US wants to bring more liquidity linked to the Binance brand to U.S. customers. “The best customer protection is competition,” he said. The 20% target depends on whether lower fees, new licenses and additional products can restore trading activity.

Patrick Witt, the White House’s pointman on the Digital Asset Market Clarity Act, is taking a leave of absence at the end of July for several months of military training, Crypto In America reported.

Witt, who has served as the executive director of the President’s Council of Advisors for Digital Assets since August, is expected to wrap up his work on July 24 before reporting for Judge Advocate General (JAG) training with the Georgia Army National Guard. The training will qualify him to serve as a legal officer in the Guard, the report wrote.

“Patrick has always been forthcoming and honest with every stakeholder that he was taking military leave later this month,” said Cody Carbone, CEO of Digital Chamber, on Tuesday. 

The move comes as the CLARITY Act, which would create the first comprehensive US regulatory framework for the crypto market, faces a narrow window to pass the Senate before lawmakers begin the Aug. 8 recess, which many see as a critical deadline for the bill. 

Source: Patrick Witt

Cointelegraph reached out to the White House and Patrick Witt for comment. 

Related: CLARITY Act gains second law enforcement endorsement before Senate push

Witt has been instrumental in advancing negotiations between the crypto and banking industry representatives over certain aspects of the crypto market structure bill, including stablecoin yield and disputes over ethics provisions. 

In Witt’s absence, the President’s Council of Advisors for Digital Assets’ deputy director, Harry Jung, is expected to take on his responsibilities, though Witt intends to remain involved in the process during his military training, according to sources who spoke with Crypto In America.

Magazine: Will the crypto lobby’s $189M campaign get CLARITY over the line?

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

The U.S. government transferred nearly $297 million in seized Bitcoin and Ether to Coinbase Prime on Monday, according to blockchain data. 

The move renewed questions about how federal agencies plan to handle crypto covered by President Donald Trump’s reserve policy.

The transfers included about 3,940 BTC worth roughly $244 million and around 30,000 ETH valued near $53 million at the time. Arkham’s government wallet tracker recorded the movements, although changing market prices can alter their dollar value.

Seized Bitcoin and Ether reach Coinbase Prime

Galaxy Research head Alex Thorn linked the Bitcoin to seizures involving Ryan Farace, known online as “Xanaxman,” and the closed BTC-e exchange.

“These coin movements were comprised of coins seized from Ryan Farace and defunct crypto exchange BTC-e,” Thorn said.

these coin movements were comprised of coins seized from ryan farace (“xanaxman”) and defunct crypto exchange btc-e

— Alex Thorn (@intangiblecoins) July 13, 2026

The Ether came from wallets tied to Brian Krewson, an Oracle employee connected to a federal case involving crypto storage and money laundering. The transfers brought assets from several enforcement cases into an institutional platform used by government agencies and large investors.

Transfer does not confirm a government sale

A deposit to Coinbase Prime can allow trading, but it does not prove that officials plan to sell the assets. Coinbase Prime provides custody, execution, financing and staking services. Federal agencies may use the platform to consolidate wallets or move assets into managed custody.

The U.S. Marshals Service selected Coinbase Prime in 2024 to safeguard and trade certain forfeited digital assets. Government wallets have since sent funds to the platform several times. As reported by crypto.news, authorities moved nearly $984,000 in FTX and Alameda-linked crypto in June, with about $768,000 reaching Coinbase Prime.

Trump reserve order limits Bitcoin sales

Trump’s March 2025 executive order created a Strategic Bitcoin Reserve and a separate stockpile for other digital assets. The order says Bitcoin placed in the reserve “shall not be sold” and must remain a U.S. reserve asset.

The order also allows some exceptions under existing law. Agencies may return assets to verified victims, use them for law enforcement work or follow a court order. Ether and other non-Bitcoin holdings fall under the separate digital asset stockpile, where the Treasury can set stewardship plans within its legal authority.

Reserve structure remains unsettled

The latest movement comes while federal agencies still debate who should manage the Bitcoin reserve.Treasury and Commerce have discussed control of seized BTC while officials review custody, legal authority and the need for new legislation.

Government-linked wallets still hold about $20.5 billion in crypto, based on current tracker estimates. Bitcoin accounts for most of the total, with roughly 325,000 BTC. The wallets also hold Ether, Tether, wrapped Bitcoin and other seized assets, although public trackers may not identify every federal address.

The recorded balance can change quickly because crypto prices move throughout the day. It can also change when courts order restitution, agencies transfer custody, or investigators identify new wallets. Public dashboards therefore provide estimates rather than a complete official federal accounting.

The Monday transfers ranked among the largest government-linked moves to Coinbase Prime in 2026. In April,a federal wallet sent 2.438 BTC from a separate criminal case to the platform.

On-chain records show where funds moved, but they do not reveal the government’s final instructions to Coinbase Prime. A confirmed sale would require further wallet activity, trading records or an official statement. Until then, the transaction remains a custody or asset-management move rather than proof of liquidation.

A solo bitcoin miner recently hit the jackpot in a lottery-like stroke of luck, turning a modest investment into an outsized gain.

The miner equipped with a small, hobbyist-grade device called a Bitaxe recently struck Bitcoin block number 957,382 and walked away with 3.1382 BTC, worth roughly $200,000.

The miner was running the rig for just eight hours through the Public Pool service. His average hash rate? A measly 995 GH/s, or about 1 terahash per second.

This marks the second time a single Bitaxe has solo-mined a block on Public Pool.

Data tracking handle Public Pool posted the win on X.

What is a Bitaxe?

It’s an open-source, credit-card-sized ASIC miner powered by the same Bitmain BM1370 chip found in massive industrial Antminer S21 machines. The Bitaxe Gamma version pumps out 1 to 1.3 TH/s while using just 15-21 watts of power. You can buy one for $60 to $150.

Think of it as the mining equivalent of winning the lottery with a scratch-off ticket from a gas station.

Solo mining is having a moment

This isn’t the first time a solo miner has made big gains on a small investment.

The Digital Asset Market Clarity Act has secured support from a second law enforcement organization before a Senate push. 

The Federal Law Enforcement Officers Association said it supports H.R. 3633 but wants lawmakers to revise several provisions before passage.

In a July 10 statement, FLEOA said the bill “represents meaningful progress” toward balancing digital asset development with public safety. The group represents more than 34,000 active and retired federal officers across over 65 agencies.

FLEOA backs the bill but seeks DeFi changes

FLEOA asked the Senate Banking Committee to make accountability clearer in decentralized finance, or DeFi. It also wants language that prevents companies from avoiding regulation by presenting controlled services as decentralized. The association urged senators to replace the bill’s “specific intent” test with an existing knowledge standard.

The group also asked Congress to state clearly that the legislation does not reduce current federal investigative powers or block lawful court processes. FLEOA said agencies must retain authority covering criminal cases, anti-money laundering rules, sanctions and counterterrorism financing. National President Mathew Silverman said officers need tools to investigate complex financial crimes.

Endorsement adds to a divided law enforcement debate

The support follows the National Organization of Black Law Enforcement Executives’ endorsement earlier in July. As previously reported, NOBLE became the first major law enforcement group to publicly back the bill.

Ji Kim, CEO of the Crypto Council for Innovation, said FLEOA’s position showed the measure was strong on consumer protection and law enforcement.

Significant. @FLEOAORG expressing support for CLARITY and confirming what many of us know–this bill is strong on consumer protection and law enforcement. The time is now to pass CLARITY to ensure the U.S. has these strong guardrails in place. https://t.co/DOBfOKjz0X

— Ji Kim (@_jikim) July 13, 2026

Other organizations have raised concerns about Section 604. The provision would protect some software developers and non-custodial service providers from being treated as money transmitters when they do not control customer funds. As reported by crypto.news, four law enforcement groups warned that broad protections could make some crypto crime investigations harder.

In addition, the Department of Justice later challenged parts of those claims.The agency viewed some warnings about lost enforcement powers as inaccurate. The Major County Sheriffs of America also moved from opposition to a neutral position after further talks over Section 604.

Senate faces a narrowing August window

The Senate’s published 2026 schedule places its August state work period from Aug. 10 through Sept. 11. That leaves Aug. 7 as the final scheduled session day before the break. As of July 14, the Senate’s public floor schedule did not list a vote on the CLARITY Act.

President Donald Trump urged the Senate to pass the measure on July 13, linking the appeal to the late Senator Lindsey Graham.The request came as negotiators worked to complete a merged draft before recess.

Senator Cynthia Lummis said on July 8, “This is likely our last chance to get real legislation for digital assets on the books before 2030.” She warned that other countries could set the rules if Congress fails to act.

This is likely our last chance to get real legislation for digital assets on the books before 2030. If we fail to pass the Clarity Act, we are ensuring another country will write the rules for digital assets and we spend the next decade catching up.

— Senator Cynthia Lummis (@SenLummis) July 8, 2026

Senate staff still need to align Banking and Agriculture Committee language before a final floor vote. The bill also needs bipartisan support to clear the Senate’s 60-vote threshold.

FLEOA’s endorsement gives supporters another law enforcement voice during negotiations. Its requested revisions show that questions over DeFi accountability, developer protections and investigative authority remain active before the scheduled summer break.

Binance has released its 44th proof-of-reserves report, showing that customer Bitcoin holdings increased during June while Ethereum and Tether balances declined. 

The report used a snapshot taken on July 1 and compared the figures with customer balances recorded on June 1.

Customer Bitcoin holdings rose 1.22% to about 640,000 BTC, an increase of 7,715 BTC. Ethereum holdings fell 1.41% to around 4.08 million ETH, a decline of 58,591 ETH. Customer Tether holdings dropped 1.51% to about 33.7 billion USDT, falling by roughly 510 million USDT.

Binance customer Bitcoin holdings continue rising

The July figures extend the rise in customer Bitcoin balances reported one month earlier. Binance users added 25,838 BTC in May, lifting their total holdings by 4.26% to about 630,000 BTC in the exchange’s 43rd proof-of-reserves report.

The latest increase was smaller than the previous month’s gain, but it kept customer BTC balances moving higher. The report does not show whether the change came from purchases, deposits, transfers between Binance services, or movements from other assets. It records balances at one point in time rather than individual customer activity.

Ethereum and USDT balances decline

Ethereum moved in the opposite direction after recording a strong increase in the previous report. Customer ETH holdings had risen 10.17% in May to about 4.14 million ETH. The July snapshot showed that the total fell by 58,591 ETH during June.

USDT balances also declined for a second monthly report. Binance users held about 34.3 billion USDT in the June 1 snapshot after balances fell by roughly 460 million tokens in May. The latest decrease brought the total to about 33.7 billion USDT. Lower stablecoin balances do not confirm that users converted USDT into Bitcoin or withdrew funds.

A similar pattern recently appeared at other major exchanges. As reported by crypto.news, Bybit and OKX recorded higher customer Bitcoin holdings while USDT balances fell in their latest reserve snapshots. However, the reports did not identify the reasons behind the balance changes.

Binance says customer assets remain backed

Binance states on its proof-of-reserves page that it holds customer assets on a 1:1 basis, along with additional reserves. The exchange uses Merkle Trees and zero-knowledge proofs to let customers check whether their account balances were included in the total liabilities covered by each report.

A proof-of-reserves report can show whether listed wallets hold assets linked to customer balances at the time of a snapshot. However, it does not provide a complete financial audit or explain every off-chain liability. A recent proof-of-reserves explainer noted that useful disclosures should remain recent, frequent and matched against customer liabilities.

The figures should therefore be read as a record of asset backing and customer balances on a specific date. They do not show the exchange’s complete financial position or the reasons customers moved assets between accounts, platforms or private wallets.

Report follows braoder changes at Binance

The latest reserve report arrived after a month of active derivatives trading. Binance recorded about $1.63 trillion in futures trading volume during June, its highest monthly total of 2026, according to CryptoQuant data.

Binance also introduced service changes for some European users when the European Union’s MiCA transition ended on July 1. As previously reported, the exchange said affected users could continue using options already communicated to them, including withdrawals where available. The date matched the snapshot used for the latest reserve report.

Earlier reserve rankings placed Binance ahead of other major exchanges. As reported by crypto.news, CoinMarketCap data ranked the platform first in January 2026 with about $155.6 billion in proof-of-reserve assets. The July report adds a new monthly view of customer balances, with BTC rising while ETH and USDT moved lower.

The U.S. government has transferred nearly $300 million worth of seized Bitcoin and Ether to Coinbase Prime, according to on-chain tracking data from Arkham. The move—sent from government-linked wallets to Coinbase’s institutional custody and services venue—has reignited questions about whether the assets will eventually be sold.

Arkham data indicates that on Monday, 3,940 BTC (valued at about $243.95 million) and 30,014 ETH (about $53.09 million) were deposited to Coinbase Prime. The transactions appear tied to multiple high-profile U.S. crypto seizures, making the transfer notable not only for its size, but for what it could signal about broader U.S. policy and asset management.

Key takeaways

• Arkham reports Monday’s deposits of 3,940 BTC and 30,014 ETH from U.S. government-linked wallets to Coinbase Prime.
• The transfers are associated with prior seizures, including assets linked to the “xanaxman” case and a crypto scheme involving Brian Krewson.
• While a sale is possible, the deposits alone do not confirm trading—Coinbase Prime also provides custody and related services that can be consistent with consolidation.
• The timing has drawn attention to an executive order stating seized Bitcoin should contribute to a “Strategic Bitcoin Reserve,” potentially limiting direct sales.
• Government-linked wallets still hold substantial crypto assets, which means investors may continue to watch wallet activity for clues on long-term disposition.

Large government deposits to Coinbase Prime raise questions

According to Arkham, the U.S. government moved 3,940 Bitcoin and 30,014 Ether to Coinbase Prime on Monday. These transfers are among the largest government-linked movements to Coinbase Prime this year, reintroducing a familiar market narrative: when seized assets reach an exchange-adjacent custody provider, the next step could be liquidation—or it could be operational management.

Galaxy Research’s Alex Thorn characterized the Bitcoin portion by tracing the source of the coins to assets seized from ryan farace, known online as “xanaxman,” as well as from the defunct btc-e exchange. That framing matters because it connects wallet flows to known enforcement histories, helping analysts interpret what category of seized funds is being handled.

On the Ether side, the Arkham-linked association points to assets tied to Brian Krewson, an Oracle employee alleged to be implicated in a $54 million crypto storage and money laundering scheme. In practice, such linkages help observers determine which legal cases may be behind the assets and therefore what disposal pathways might exist.

Does this conflict with the “Strategic Bitcoin Reserve” directive?

The timing of the deposits has prompted renewed scrutiny of U.S. policy. The transfers have been compared to a March 2025 executive order under President Donald Trump that instructs seized Bitcoin should be part of a “Strategic Bitcoin Reserve” and “should not be sold.” That language is now in the spotlight because moving seized coins into an institutional venue like Coinbase Prime is often interpreted as a step toward potential disposition.

However, there is an important distinction between custody movements and confirmed sales. Coinbase Prime is not only a venue for trading; it also supplies institutional custody, trading capabilities, financing, and staking services. As a result, the act of depositing assets does not, by itself, prove that the government intends to liquidate them.

That nuance is likely to be central for market participants. If the U.S. is consolidating assets in a custody framework for administrative or technical reasons, holders may see continued inflows to Prime without immediate sell pressure. If, instead, subsequent steps show transfers to trading desks or to counterparties in a manner consistent with execution, the executive-order debate could evolve from interpretation to measurable outcomes.

Why Coinbase Prime deposits have become a recurring pattern

This is not the first time government-linked wallets have used Coinbase Prime. The new transfer stands out mainly by scale—yet earlier examples underline that such custody routing has already been part of the government’s operational playbook.

In June, a U.S. government-linked wallet moved 98,589 Chainlink (LINK) tokens to Coinbase Prime, with tracing reportedly connecting those assets to seizures involving FTX and Alameda Research. Earlier still, in April, approximately 8.2 Bitcoin tied to the 2016 Bitfinex hack was sent to Coinbase Prime.

These precedents suggest that using Coinbase Prime may serve multiple functions, from custody consolidation to enabling potential future actions depending on legal and administrative decisions. The key unknown for investors is whether Monday’s transaction is simply another custody step in an ongoing process—or whether it marks a shift toward liquidation planning.

What analysts estimate remains in government wallets

Even without assuming a sale, the broader picture remains significant. Estimates cited in the reporting indicate U.S. government-linked wallets still hold cryptocurrency valued at roughly $20.6 billion in total, including around 325,000 BTC, 28,000 ETH, 146 million USDT, and 750 Wrappd Bitcoin (WBTC).

Those holdings underscore why wallet monitoring has become a staple for market observers: large balances concentrated in identifiable government wallets can influence expectations about future supply and regulatory risk, especially during periods when traders are already sensitive to changes in liquidity and headline policy.

At the same time, the size of remaining holdings also makes the “how” more important than the “whether.” Investors may need to watch not only deposits to custody providers, but subsequent on-chain behavior that would suggest conversions, withdrawals to trading counterparties, or other actions that are more consistent with sales rather than custody management.

For now, the key watchpoints are whether additional government-linked transfers continue to concentrate assets at Coinbase Prime and whether follow-on transactions indicate execution rather than consolidation. Until clearer on-chain signals appear, Monday’s move looks more like a high-value custody step than proof of immediate selling.