Binance US Seeks $100 Million Amidst Market Challenges
- Binance US is reportedly aiming to raise $100 million at a valuation of approximately $1 billion.
- In April 2022, Binance US raised over $200 million with a valuation of $4.5 billion.
- CEO Stephen Gregory is focusing on lower fees and expanding U.S. access for Binance US.
- The exchange faced regulatory issues in June, leading to trading activity decline and banking disruptions.
- SEC’s lawsuit against Binance-related entities was dismissed in May.
Binance US is looking to recover from past regulatory challenges by raising new capital at a significantly reduced valuation compared to its previous funding round in April last year when it was valued at $4.5 billion.
The company’s current fundraising efforts aim to enhance liquidity and distribution as it navigates the competitive American market. (Source)
