Binance.US Valued at $4.5B in First Funding Round
Share this article
Binance.US, the American arm of the world’s largest crypto exchange, has closed its first-ever funding round. The company has raised over $200 million at a $4.5 billion valuation.
Binance.US Completes Raise
Binance’s U.S. offshoot has completed its first capital raise.
In a Wednesday blog post, Binance.US announced that it had completed its first funding round, raising over $200 million at a $4.5 billion valuation. The round attracted an all-star cohort of venture capital firms, including RRE Ventures, Foundation Capital, VanEck, and Circle Ventures. The raise also comprised several diversity, equity, and inclusion-focused firms like Gaingels and Gold House.
Although this was the firm’s first capital raise, the company achieved the lofty 10-figure valuation thanks to the success of its parent company, Binance. The world’s largest cryptocurrency exchange, Binance held its last capital raise in 2018, which makes it difficult to value. However, Binance CEO Changpeng Zhao, who owns 90% of the company’s shares, is estimated to have a real-time net worth of over $65 billion.
Binance.US has said that it will use the newly-acquired funds to enhance its trading platform, develop and launch a suite of new products and services for U.S. customers, and promote the Binance.US brand through educational initiatives.
Like many crypto exchanges that offer their services globally, Binance has created a separate platform for U.S. customers to ensure it complies with local regulations. Since its inception three years ago, Binance.US has grown into a profitable standalone business and is the “fastest-growing U.S. exchange,” according to the firm’s CEO Brian Shroder. Although limited in its offerings compared to other U.S. exchanges such as Coinbase, Binance.US currently supports more than 85 cryptocurrencies and 190 trading pairs.
Disclosure: At the time of writing this piece, the author owned ETH and several other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
What is a Crypto Airdrop: Why Projects Airdrop Crypto
Crypto airdrops occur when new tokens are freely distributed to different wallets in order to drive initial growth and build a community. They represent a popular marketing tactic that new projects use to spread…
Binance CEO Plans to Commit Fortune to Philanthropy
Changpeng “CZ” Zhao, the wealthiest person in crypto, has said he intends to donate up to 99% of his wealth. CZ Says He Plans to Donate Most of his Wealth…
The SEC Is Probing Binance.US’s Trading Affiliates
The U.S. Securities and Exchange Commission is probing two trading affiliates of Binance.US, according to the Wall Street Journal. Two Firms Are Being Probed The two trading firms under investigation…
CZ: Binance to Expand Into “Every Economic Sector”
Binance has plans to invest in many more businesses outside of the crypto industry. Last month, the company took a $200 million stake in the U.S. publication Forbes. Binance’s Future…
