Binance.US seeks $1B valuation in potential $100M funding round: Report
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Binance. US is reportedly seeking to raise up to $100 million in a funding round that could value the cryptocurrency exchange at $1 billion. According to a Thursday Bloomberg report, the US-based crypto exchange is pursuing private investment as it looks to expand its business. The potential $1 billion valuation would be well below the $4.5 billion pre-money valuation it secured in 2022, when it raised $200 million in seed funding. Binance. US reportedly informed World Liberty Financial, the crypto platform co-founded by US President Donald Trump and his sons, about the funding round, but the company will not be participating. Last year, Binance was embroiled in a controversial $2 billion investment between an entity tied to the United Arab Emirates royalty and World Liberty using the platform’s USD1 stablecoin. The proposed funding round is reportedly part of Binance. US’ efforts to regain market share against larger rivals following a 2023 settlement between Binance Holdings Ltd. and US authorities.
This article is an excerpt. To read the full content, visit the original source. Cointelegraph
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