Binance.US

Crypto · Fintech

Funding

Binance.US reportedly seeks $100M at $1B valuation, down from $4.5B

The exchange is racing to rebuild US market share after a 2023 settlement cost it ground to Coinbase and Kraken.

• Binance.US is reportedly seeking to raise up to $100 million in a private funding round that would value the exchange at about $1 billion, according to Bloomberg.
• Binance.US, the American affiliate of the world's largest crypto exchange, runs a centralized exchange for US users and plans to use the funds to expand into areas like prediction markets and restore state money-transmitter licenses.
• The targeted $1 billion valuation is less than a quarter of the $4.5 billion pre-money valuation Binance.US secured in 2022, when it raised more than $200 million in seed funding.
• World Liberty Financial, the Trump-linked crypto venture, was informed about the round but is reportedly not participating, despite Binance's ties to its USD1 stablecoin.
• The raise follows Binance's 2023 settlement with US authorities, which included $4.3 billion in penalties and led then-CEO Changpeng Zhao to plead guilty before receiving a presidential pardon in 2025.
• Analysts at Tagus Capital note that Binance.US's $4.5 billion 2022 valuation implied revenue multiples of 17x to 47x based on $265 million (2021) and $95 million (2022) revenue disclosed in SEC litigation materials, highlighting how sharply exchange valuations can swing with trading activity.
• The steep valuation reset underscores how far Binance.US has slipped behind rivals like Coinbase, Kraken, and Robinhood as regulatory fallout reshapes competition for US crypto customers.