KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Binance, the world’s largest crypto exchange, saw its market share drop to 36.6% in September, its lowest level in four years, as the platform faces increased regulatory scrutiny. This is down from 42.7% at the start of the year, according to researcher CCData.
In the spot market, Binance’s share fell to 27%, the lowest since January 2021, while its derivatives trading share dropped to 40.7%, also marking a four-year low. The platform has been losing market share since March 2023 amid regulatory actions and fines, including a US$4 billion settlement with the US Justice Department last year. Changpeng Zhao, the co-founder and former CEO, resigned following the settlement.
Under new CEO Richard Teng, a former regulator, Binance has focused on improving relations with regulators. Despite Binance’s decline, smaller competitors like Bybit, Bitget, and Crypto.com have gained market share, as confidence in these platforms grows due to low trading fees, minimal slippage, and high liquidity.
While Binance faces these challenges, it did achieve a significant milestone earlier this month by becoming the first centralized crypto exchange to surpass US$100 trillion in lifetime trading volume, according to CCData.
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