Binance, which is known as the largest crypto exchange in the world, has been experiencing a decline in its market share for spot trading. Meanwhile, other exchanges such as OKX, Huobi, and Bybit have been gaining market share. The regulatory scrutiny and actions by US regulators against Binance have become a major concern for its users, and a potential enforcement action by the SEC could be devastating for the exchange and the market. Binance's CEO is planning to reduce his shareholding in the Binance.US crypto exchange to reduce the impact on its US arm amid a targeted attack against Binance. The Securities and Exchange Commission has issued warnings to Binance, Huobi, and OKX.