A well-known exchange announces restructuring and will cease its US operations to focus on international markets.

Recently, a well-known Crypto Assets exchange announced significant operational adjustments. The exchange will spin off from its parent company and be taken over by an Asian company. This change will officially take effect on October 18.

According to industry insiders, the actual controller behind this Asian company is a well-known figure in the blockchain industry. This person has a good personal relationship with the founder of the original parent company of the exchange and has invited the latter to meet with the famous investor Warren Buffett.

Looking back at history, this exchange was acquired at a high price of 400 million USD in early 2018. At that time, it was one of the largest digital currency trading platforms in the world. However, due to regulatory policies, the exchange's market share and trading volume have gradually declined. From a peak in the first half of 2017, when it accounted for 58% of the total market volume, to today's trading volume of just over 20 million USD, its global ranking has fallen beyond the 80th position. In May of this year, the exchange also announced that it would stop providing trading services for 9 types of Crypto Assets to US users.

In the latest announcement, the exchange stated that it will shift its business focus to the international market. Starting from November 1, it will no longer provide any services to users in the United States. At the same time, the exchange also announced an ambitious international development plan, with plans to invest $100 million for business expansion. To attract more users, from October 21 until the end of the year, the platform will significantly reduce spot trading fees, even down to zero.

This series of changes reflects the intense competition and rapid changes in the Crypto Assets trading industry. In the face of regulatory pressure and market challenges, major exchanges have had to maintain their competitiveness by adjusting strategies and optimizing services. Whether this exchange's transformation will succeed will become the focus of attention for the entire industry.