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crushing might be a bit too far, but they are certainly ahead of Coinbase in volume with lower opex https://coinmarketcap.com/rankings/exchanges/

I had no idea that Binance is so far ahead. Why do most people use it? Some trust factor?

It has the most pairs available, historically aggressive referral scheme, BNB and BSC also helped a lot. not sure about the trust factor

It also has very low trading fees (~0.1% per trade)

Those who have too much head count and hire aggressively, also fire aggressively.

I'm guessing FTX kept their head count low, so not impacted as hard as Coinbase is.

Crushing in terms of their promotion army heavily shilling it on social media - yes. In terms of users no.

Same here until I saw the Larry David's commercial - https://www.youtube.com/watch?v=BH5-rSxilxo