Latam crypto holders flock to Bitget following Binance, Coinbase suits

Crypto exchange Bitget has seen a surge in new accounts in Latin America following lawsuits by United States regulators against major competitors Binance and Coinbase.

As compared to daily averages, new users in the region increased by 43% from June 6 to 9, with Brazil and Argentina leading market share growth, a spokesperson from Bitget told Cointelegraph.

According to the exchange, new clients in Brazil soared 54%, with a 208% jump in total deposits. In Argentina, its customer base rose by 33%, while funds deposited expanded 87%. The crypto exchange also operates in Venezuela, Colombia, and Mexico. Over the last few days, Bitget’s total deposits rose 134% in the region.

Bitget has over 8 million clients across 100 countries. The company did not disclose the total number of users in Latin America.

The figures are explained by recent developments in the United States. On June 5, crypto exchange Binance