Kaiko, a market data provider, has ranked cryptocurrency exchanges in Q2, and Binance has lost its position as the leading trading platform. Notably, Coinbase, a major U.S.-based crypto exchange, has surpassed Binance’s performance in key indicators.
Coinbase tops governance, liquidity and security
According to Kaiko’s update shared with the crypto community, these exchanges’ governance structure, business and liquidity performance were measured. Other indicators included security, technology and data quality.
Interestingly, Coinbase ranked number one overall, beating Kraken, Binance and Crypto.com, other notable exchanges. Based on the criteria above, Kaiko considers Coinbase to be the most trustworthy and efficient outfit.
This indicates that there is a shift in the market regarding investors’ trust in regulated platforms.
As recently reported by U.Today, Coinbase has actively collaborated with law enforcement authorities to prevent spoofing schemes in the $3.43 trillion digital currency market. A notable case involved Chirag Tomar’s theft of $20 million in crypto in 2024.
However, with Coinbase’s assistance, relevant authorities could take down Tomar, who was defrauding users online.
Coinbase featuring in top news
Despite Coinbase’s positive rating, the exchange is currently facing backlash over a security breach that occurred in January 2025. The heat follows a recent report that Coinbase was aware of the hack incident but only revealed it in May 2025.
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According to the report, Coinbase outsourced its customer support services to TaskUs, a third-party contractor in India. One of the TaskUs employees was allegedly apprehended taking pictures of her computer screen containing customer data.
Meanwhile, in other developments, Coinbase appears set to head to a federal court regarding the Oregon lawsuit instituted by the state Attorney General, Dan Rayfield. The legal issues are critical to the entire crypto sector, such that if the Oregon AG has his way, crypto innovation could be jeopardized.
