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Binance and FTX, Big Crypto Exchanges, Get Bigger

Two crypto exchanges—Binance and FTX—are extending their reach amid the continuing market rout.

Binance’s spot-trading market share rose to 49.7% in June from 45% in January, according to data from research firm CryptoCompare. FTX, which has been aggressive in both marketing and acquisitions, boosted its market share to 8.95% in June from 6% in January. It is now the second-largest spot market.