What's going on with Binance US?

I've been hearing a lot about Binance US lately, but I'm not entirely sure what's going on. Can you give me a brief overview of the current situation with the exchange? Are there any regulatory issues or other challenges that Binance US is facing? Additionally, how is the platform performing in terms of user adoption and trading volume? I'm particularly interested in understanding how Binance US is positioning itself in the competitive cryptocurrency market and what sets it apart from its competitors.