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Bitget registers influx of Latam users amid SEC’s regulatory clampdown

In the wake of legal actions taken against major cryptocurrency exchanges Binance and Coinbase by United States regulators, Bitget has experienced a significant increase in new accounts from Latin America. According to Bitget, the number of new clients in Brazil skyrocketed by 54%, accompanied by a remarkable 208% surge in total deposits. Similarly, in Argentina, the customer base witnessed a growth of 33%, while funds deposited expanded by an impressive 87%. Consequently, Binance experienced net outflows of $3.128 billion in the past seven days, as reported by DefiLlama. In contrast, Bitget witnessed a surge of $14.8 million in deposits during the same period.

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