Binance.US Seeks $100M at $1B Valuation, Down 78% From 2022

Binance.US is seeking up to $100 million from private investors as the cryptocurrency exchange attempts to rebuild its U.S. business. Bloomberg reported the fundraising discussions on Oct. 15, citing people familiar with the matter.

The exchange is targeting a valuation of approximately $1 billion. That represents a substantial decline from the $4.5 billion pre-money valuation secured during its 2022 financing round.

The discussions remain preliminary, and the proposed terms could change. Binance.US has not announced a completed transaction or identified investors committed to the round.

Binance.US Targets $100M to Expand U.S. Crypto Business

According to the report, Binance.US is exploring options to get external liquidity sources to boost its trading operations. It is also seeking reinstatement of its money-transmitting licenses in the US.

The fundraising appears to be part of a broader effort to make a comeback after years of losing market share. Binance.US, an independent subsidiary of Binance, is one of the major crypto exchanges in the US.

However, it faced a setback in 2023 due to Binance’s legal troubles with US law enforcement agencies. The exchange later settled for $4.3 billion, and Binance cofounder Changpeng Zhao was jailed for violating US laws.

Binance.US has struggled to recover since then. The crypto exchange also had to suspend fiat deposits and withdrawals for US customers due to enforcement action by the Securities and Exchange Commission. It only reinstated it in February 2025

The exchange also hired  Stephen Gregory as its chief executive officer in March 2026. Gregory, a lawyer, was previously the CEO of Currency.com.

Few months ago, Gregory talked about the exchange expanding into new businesses, including prediction markets.

Meanwhile,  Binance.US could face some challenges in its comeback. Competition has intensified as the likes of Coinbase, Kraken, and Crypto.com have gained a foothold. Even brokerage firms such as Robinhood are expanding their crypto offerings.

World Liberty Financial Not Participating in Funding Round

Interestingly, Bloomberg reported that World Liberty Financial (WLFI) was one of those informed about the capital raise. However, the report claims WLFI is not participating.

WLFI is a crypto venture backed by the Trump family and already has an existing relationship with  Binance International Exchange. Binance is the largest holder of its USD1 stablecoin.

Meanwhile, the targeted valuation for Binance.US represents a massive haircut from its 2022 valuation. At the time, the exchange raised $200 million at a pre-money valuation of $4.5 million. Binance is also eyeing a return to the United Kingdom.

This article is for informational purposes only and does not constitute financial or investment advice.