Binance.US Could Go Public in 3 Years, CEO Zhao Says: Report

A listing would be a boon for the embattled Binance brand.

AccessTimeIconSep 2, 2021 at 7:22 p.m. UTC
Updated May 11, 2023 at 4:13 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Changpeng “CZ” Zhao, CEO of one of the world’s largest exchanges, Binance, says its U.S. affiliate is eyeing an initial public offering within three years.

  • According to a report by The Information on Wednesday, Zhao said “Binance.US is just going to do what Coinbase did” by following in the footsteps of Brian Armstrong’s exchange.
  • The move to go public would be a boon for the embattled Binance brand, with several countries having announced investigations into or published warnings against Binance.
  • A spokesperson for Binance confirmed with CoinDesk that Zhao had revealed a projected timeline during an interview with the publication and underscored his response as being dependent on market factors.
  • Asked during the interview about a clear sense of what the timing would be for Binance.US’s initial public offering, Zhao said it depended on the business’ growth.
  • “So if the business can grow consistently over the next three years, then three years should be sufficient for an IPO,” he said. “If there’s a prolonged bear market for, I don’t know, maybe three or five years, then it may be a little bit longer.”
  • Zhao had first brought the idea that its U.S. affiliate was eyeing an IPO during his time at the Redefine Tomorrow event in July. The timeline is highly dependent on a number of factors, including regulatory approval.
  • Binance.US is also eyeing the completion of a large private funding round within the next two months that would see the exchange’s CEO reduce control of the U.S. affiliate’s board, according to the report.
  • Earlier this year, the CEO said parent Binance had no plans to go public, citing comfort with its overall growth and cash reserves.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Sebastian Sinclair

Sebastian Sinclair is a CoinDesk news reporter based in Australia.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about