Coinbase and OKX are making a concerted effort to attract users from Binance, which has recently struggled to secure a MiCA license in the European Union.
To draw in Binance's estimated 450 million EU users, both platforms are offering sign-up bonuses that can reach as high as 8% of deposits or transfers from other accounts.
This move reflects the competitive landscape in the cryptocurrency exchange market, particularly as regulatory issues continue to impact major players like Binance.