Binance.US is seeking up to $100 million at a target valuation of around $1 billion to resume growth in the U.S., while considering new markets, licenses, and the option of liquidity provision from global Binance.
According to a report by Wu Blockchain, citing Bloomberg, Binance.US is targeting up to $100 million in a private funding round. Its growth plans alongside the fundraising effort include entering prediction markets and regaining money transmitter licenses in some states.
New valuation target well below 2022 level
In 2022, the exchange raised more than $200 million at a pre-money valuation of $4.5 billion. The roughly $1 billion target being discussed for the new round is far below that level.
According to the report, Binance.US lost significant market share after Binance reached a settlement with U.S. authorities in 2023. The company is now looking for ways to expand its U.S. operations with new capital and business areas.
World Liberty Financial, which is linked to the Trump family, was informed of the fundraising effort but is not participating in the round.
Liquidity from global Binance also among the options
Binance.US is also considering using external sources for liquidity to support the execution of trades. These options include Binance’s global exchange, though no final decision has been made on this matter.
Considered alongside prediction markets and state licenses, the liquidity options show that the growth plan involves more than just raising funds. It has not been announced that the funding round has closed or that the global Binance-linked liquidity option has been implemented.
Not investment advice.