Binance.US Raises First Funding Round at $4.5B Valuation

The $200 million fundraise will be used to ramp up marketing ahead of a public listing in “the next two to three years,” a spokesperson said.

AccessTimeIconApr 6, 2022 at 1:00 p.m. UTC
Updated Apr 6, 2022 at 5:05 p.m. UTC

Brandy covers crypto-related venture capital deals for CoinDesk.

Binance.US, the American arm of the world’s largest crypto exchange by trading volume, has raised over $200 million in its first external funding round at a pre-money valuation of $4.5 billion.

Investors in the seed round were a mix of early stage venture capitalists and crypto-native firms, including RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures, among others.

“Binance.US intends to go public in the next two to three years at a time that we deem is right for the business,” a company spokesperson told CoinDesk via email.

Launched in 2019, the exchange offers more than 85 tokens and 190 trading pairs for retail and institutional traders.

According to a press release, Binance.US will use the new capital to enhance its spot trading platform, develop of a new suite of products and fund marketing and education initiatives.

In November, Changpeng Zhao, the founder of the exchange’s parent company, said Binance.US was raising a “couple hundred million” in a funding round that would “close in about a month or two.”

The valuation for Binance.US is smaller than some of its local rivals. Sam Bankman-Fried’s FTX.US was valued at $8 billion in a $400 million funding round in January.

After receiving regulatory approval in two new states earlier this year, Binance.US is now available in 45 states and eight territories.


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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.

CoinDesk - Unknown

Brandy covers crypto-related venture capital deals for CoinDesk.