Binance.US Reportedly Seeks $100 Million in Funding at $1 Billion Valuation

Cryptocurrency exchange Binance.US is reportedly seeking to raise up to $100 million in a private funding round that would value the company at approximately $1 billion. The move comes as the exchange works to rebuild its presence and compete in an increasingly crowded U.S. digital asset market.

The Proposed Round

According to a Bloomberg report citing people familiar with the matter, the capital raise is intended to bolster the company's U.S. operations. The report also noted that World Liberty Financial, a firm co-founded by former U.S. President Donald Trump, was among the institutions briefed on the potential financing deal.

This new target valuation represents a steep discount from the company's previous financing efforts. In 2022, Binance.US raised over $200 million in a seed round at a $4.5 billion pre-money valuation.

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Strategic Context and Market Position

The push for new funding follows a period of significant challenges for the exchange. Binance.US saw its market share decline sharply after its global affiliate, Binance Holdings Ltd., reached a major settlement with U.S. authorities in 2023. Although Binance.US has operated as a separate legal entity since its 2019 launch, it shares a co-founder in Changpeng Zhao.

As part of its broader U.S. expansion plan, the company is also focused on regaining state-level money transmitter licenses and is exploring new business lines, including prediction markets. The effort to raise capital aligns with a broader trend of digital asset firms taking advantage of what some perceive as an easing regulatory environment in the United States.