Binance US is actively pursuing a private funding round of up to $100 million, targeting a valuation of approximately $1 billion, according to a Bloomberg report highlighted by influencer @WuBlockchain. The U.S.-based exchange is seeking fresh capital as it works to rebuild its position in a highly competitive and regulatorily scrutinized market.
The fundraising push marks a significant pivot for the company, which previously raised more than $200 million in 2022 at a $4.5 billion valuation. Since then, Binance US has faced substantial setbacks, including regulatory challenges in 2023 that eroded its market share and left it with no reported trading volume or price activity. The absence of market activity underscores the urgency of the capital raise.
As part of its recovery strategy, Binance US is exploring access to Binance Global’s liquidity, planning an entry into prediction markets, and working to restore state money transmitter licenses. The exchange operates in the U.S. under increased regulatory oversight, and its ability to execute these plans will likely determine whether it can regain user trust and market presence.
Traders and industry participants are monitoring the fundraising progress closely. If successful, the move could signal a broader recovery phase for Binance US, although the broader crypto market currently presents mixed signals that add complexity to the exchange's path forward.
