Binance.US is reportedly planning a funding round of up to $100 million,
as the cryptocurrency exchange seeks to strengthen its position in the U.S. amid intensifying competition for customers in the digital asset market.
According to Bloomberg, citing a person familiar with the matter, the company is targeting a valuation of approximately $1 billion for this private funding round.
World Liberty Financial—a venture co-founded by U.S. President Donald Trump—is among those that have been briefed on the fundraising effort.
Launched in 2019, Binance.US operates independently of the global Binance exchange, though Binance co-founder Changpeng Zhao holds significant stakes in both entities. In 2022, the company raised over $200 million at a pre-money valuation of $4.5 billion.
The exchange lost a substantial portion of its market share following the 2023 settlement between Binance Holdings Ltd. and U.S. authorities, and it is now working to regain ground against larger competitors. The company has also explored expansion into new business areas, including prediction markets.
This fundraising push comes as digital asset firms look to capitalize on a more favorable regulatory environment in the United States. Major exchanges are rolling out new products, while offshore competitors are seeking to expand their footprint within the country.
Additionally, the company is reportedly working to restore several of its state-level money transmitter licenses as part of broader plans to grow its U.S. operations.