Key facts
- Binance.US aims to raise $100 million at a $1 billion valuation.
- Funds will be used to expand crypto operations and potentially offer prediction markets.
- World Liberty Financial, with ties to Binance, will not invest.
- Previous funding round four years ago valued Binance.US at $4.5 billion pre-money.
- The U.S. arm is also considering restoring state money transmitter licenses.
Binance.US is reportedly seeking to raise $100 million at a valuation of approximately $1 billion to expand its cryptocurrency operations amid increased competition. The funding round comes as the U.S. arm of the top crypto exchange considers offering prediction markets and restoring state money transmitter licenses. Trump-backed World Liberty Financial, which has ties to Binance, has opted not to participate in the private funding round. This follows a previous funding round four years ago where Binance.US raised $200 million at a pre-money valuation of $4.5 billion. The U.S. arm's current valuation has reportedly dropped following the exchange's settlement with the Department of Justice over anti-money laundering charges. The DOJ is also probing Binance.US's compliance with the 2023 settlement deal.