Binance US pursues $100 million raise at $1 billion valuation
VC & Fundraising ·
The exchange is reportedly lining up fresh private capital to rebuild its US footprint, with a crypto venture tied to the Trump family aware of but not joining the round.
Binance US is working to secure up to $100 million in new financing that would value the company at roughly $1 billion, according to a Bloomberg report relayed by wublockchain.xyz. The target valuation marks a steep decline from the $4.5 billion pre-money figure the exchange commanded in 2022, when it last brought in outside capital.
That earlier round brought in more than $200 million, a sum the company is now trying to roughly match even as its overall market standing has shrunk. The drop followed fallout from Binance's 2023 settlement with US regulators, which coincided with the US affiliate ceding considerable trading volume and user share.
World Liberty Financial, the crypto venture connected to the Trump family, was informed about the fundraising effort but has opted not to put money into it, per the same report. No other details on who might participate in the raise have surfaced.
Beyond the capital raise, Binance US is said to be looking at entering prediction markets and working to reinstate money transmitter licenses it had lost in certain states. The company is also weighing whether to draw on outside sources of trading liquidity, including a possible link to Binance's global exchange, though that decision has not been finalized.
What remains unclear is the final size and pricing of the round, which investors beyond those already named might take part, and whether regulators will clear the licensing and liquidity arrangements the exchange is pursuing. The prediction-markets push and any tie-in to Binance's global order books are also still unconfirmed, pending further disclosure.