Binance.US seeks $100 million to rebuild its US business
- Binance.US is seeking up to $100 million in fresh funding to expand its US cryptocurrency exchange.
- The private fundraising round targets a valuation of approximately $1 billion, below its $4.5 billion valuation in 2022.
- The exchange is pursuing renewed market share through broader services, restored state licences and potential access to external trading liquidity.
Binance.US is seeking up to $100 million at a $1 billion valuation as it works to regain ground in the US crypto market, according to an exclusive report by Bloomberg.
The proposed valuation sits well below the $4.5 billion pre-money valuation attached to its 2022 funding round, which raised more than $200 million.
World Liberty Financial, co-founded by US President Donald Trump, was informed about the fundraising, but a person familiar with the matter said the venture would not invest.
Binance.US lost substantial market share after the global Binance exchange reached a settlement with US authorities in 2023, increasing pressure to attract customers back.
The exchange has explored new offerings, including prediction markets, while considering external trading liquidity sources that could include the international Binance platform.
Binance.US also aims to restore some state money-transmitting licences as it seeks to broaden its US operations and compete with larger domestic platforms.
The fundraising effort comes as crypto companies pursue expansion in a changing US regulatory environment, with established exchanges adding products and offshore rivals seeking greater access to American customers.
The proposed round would value Binance.US at roughly $1 billion, although its size, valuation and investor mix could change as fundraising progresses.
