One of the platforms under Justin Sun launched a one-month free trading campaign. Exchanges competing on transaction fees is something everyone is probably happy to see. Hopefully Binance and OKX will follow suit, though honestly, I wouldn’t dare to go to Justin’s platform. But judging by Binance and OKX’s red envelope giveaways this year and the recent rumors of layoffs, it seems lowering fees might be a bit challenging. Still, if they don’t lower fees, they’ll gradually lose some users to second-tier platforms that do. In the past, several platforms waived trading fees and relied on spot trading, margin financing, and lending to sustain themselves. But now, with a larger employee base, it might be harder to pull off for the time being.