Binance.US seeks $1 billion valuation in potential funding round

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Binance.US is seeking up to $100 million in fresh funding at a potential $1 billion valuation, Bloomberg reported on Thursday, citing people familiar with the matter.

The proposed valuation would be well below the $4.5 billion pre-money valuation the exchange secured in 2022, when it raised $200 million. The company is reportedly seeking capital to expand its business and regain market share.

Binance.US also reportedly discussed the fundraising with World Liberty Financial, the crypto venture co-founded by US President Donald Trump and his sons, but the firm does not plan to invest. Binance.US has faced pressure since Binance Holdings reached a $4.3 billion settlement with US authorities in 2023.