Latam crypto holders shift to Bitget after Binance and Coinbase lawsuits.

Crypto exchange Bitget has reported a significant rise in new account registrations in Latin America after major competitors Binance and Coinbase faced lawsuits from United States regulators. Bitget stated that new users in the region increased by 43% from June 6 to 9, with Brazil and Argentina experiencing the highest market share growth. The company reported a 54% rise in new clients and a 208% increase in total deposits in Brazil, while in Argentina, its customer base rose by 33% and funds deposited grew by 87%. Bitget also operates in Venezuela, Colombia, and Mexico. The exchange saw its total deposits rise by 134% in the region over the last few days. Bitget has over 8 million clients across 100 countries, but did not disclose its total number of users in Latin America. The rise in new registrations is attributed to recent lawsuits against Binance and Coinbase by the US Securities and Exchange Commission. Binance’s net outflows in the past seven days sits at $3.128 billion, while Bitget’s deposits increased by $14.8 million. Coinbase was also sued on June 6 for allegedly offering unregistered securities and operating as an unregistered security broker since 2019.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


What's Behind Bitcoin's Price Surge Above $42,000

Bitcoin has made an impressive rise above $42,000, defying the expectations of many after being stagnant below $40,00...


MicroBT launches new WhatsMiner M50 series at Bitcoin 2023

The M50S++, M53S++ and M56S++ have impressive specifications that increase efficiency and also have the potential to ...


BlackRock submits application for Ethereum ETF to expand ammunition depot

As major institutions pour into the cryptocurrency ETF market, BlackRock, the world's largest asset management compan...


Bitcoin Recovery Attempt Amid ETF Speculation: What’s Next for BTC?

Bitcoin traders are eagerly anticipating the potential impact of ETF cues, yet the current BTC price has limited move...


Ether Surpasses $3,000 Mark: Bullish Momentum Continues

In an impressive display of strength, Ethereum bulls drove the ETH price beyond $3,000 today. Cointelegraph provides ...


The Future of Bitcoin ETFs: Will They Be Approved?

Exciting news for investors as industry leaders such as Valkyrie, WisdomTree, BlackRock, VanEck, Invesco and Grayscal...