Binance.US Seeks $100 Million to Rebuild Market Share

Binance.US is seeking to raise up to $100 million in a new funding round that would value the cryptocurrency exchange at $1 billion. This target valuation represents a significant decline from the $4.5 billion pre-money valuation the company achieved during a $200 million seed round in 2022.

The exchange intends to use the fresh capital to expand its business and recover market share. This effort follows a 2023 settlement between Binance Holdings Ltd. and United States authorities, which required the payment of $4.3 billion in penalties.

As part of its fundraising efforts, Binance.US approached World Liberty Financial, a platform co-founded by Donald Trump and his sons. World Liberty Financial declined to participate in the investment round.