Key Insights:
- BinanceUS’s $100M funding bid leads Binance news, with a valuation near $1 billion.
- Expansion plans include restoring state licenses and exploring prediction markets.
- World Liberty Financial reportedly will not join the BinanceUS private funding round.
Binance news centers on BinanceUS’s effort to raise up to $100 million as competition intensifies for U.S. crypto customers.
According to a Bloomberg report, the company is targeting a valuation near $1 billion through a private funding round. The proposed capital would support the exchange’s efforts to expand its U.S. business and regain market share.
The crypto exchange news comes amid strong competition from Coinbase, Kraken, Robinhood, and Gemini for American digital-asset customers.
In addition to Binance news, established platforms are adding products, while offshore rivals seek a larger presence in the country. The fundraising discussions come as digital-asset companies pursue expansion under a more favorable U.S. regulatory environment.
Binance News: Expansion Plans Include Licenses and Prediction Markets
BinanceUS wants to restore some state money transmitter licenses as part of its broader expansion efforts.
The exchange has also explored new businesses, including prediction markets, according to earlier reporting cited by Bloomberg. These initiatives accompany its search for fresh capital as it seeks to rebuild its position in the American market.
The company has separately discussed obtaining trading liquidity from outside sources, potentially including Binance’s international exchange.
According to a Bloomberg report, the company had not decided which approach to pursue. The global platform and BinanceUS operate separately, although Binance co-founder Changpeng Zhao holds a large stake in both.
Binance News: Funding Target Follows a $4.5 Billion Valuation in 2022
BinanceUS launched in 2019 and raised more than $200 million in 2022 at a $4.5 billion pre-money valuation. The pre-money figure is the company’s valuation before adding the capital raised in the earlier financing round.
The latest effort comes four years after that financing, with the company seeking less capital at a lower valuation. However, the reported $1 billion figure remains a target within ongoing private fundraising discussions.
The exchange lost much of its market share following Binance Holdings Ltd.’s settlement with U.S. authorities in 2023.
The global company reached a settlement with the Department of Justice over anti-money-laundering charges. BinanceUS now seeks to regain ground against larger rivals as it pursues funding for its domestic expansion.
Bloomberg attributed the targeted valuation to a person familiar with the matter, who requested anonymity because the discussions were confidential.
World Liberty Financial Reportedly Sits Out Private Funding Round
World Liberty Financial, which President Donald Trump co-founded with others, was among the companies informed about the fundraising. However, it won’t participate in the private round. Its reported absence comes despite existing connections with the international Binance exchange.
The Binance news comes as World Liberty Financial maintains ties to the global exchange through its USD1 stablecoin. Global Binance holds most of the token’s supply, according to crypto tracker Arkham. The exchange has also run promotions involving USD1, World Liberty Financial’s stablecoin.
MGX, an Abu Dhabi state-backed investment firm, invested $2 billion in global Binance last year. The firm used USD1 to fund its purchase of a stake in the international crypto exchange. The proposed BinanceUS funding round concerns the separate American business.
