Binance.US, an independent run sister country of global crypto platform Binance is reportedly in talks to close multi-million dollar funding rounds. Changpeng Zhao (CZ), the CEO of Binance confined the same in an interview with Bloomberg and revealed that the deal might be finalized in the next couple of months. The funding details emerge just a day after another US-based crypto exchange Gemini raised $400 million in their first funding round.
2021 has proven to be the biggest year for crypto companies raising funds, as several big and small names have raised hundreds of millions of dollars. FTX takes the hat with its mind-blowing $900 million raise and then followed it with another $420 million in the capital. Apart from crypto exchanges, data and analytic firm chainalysis also became a Unicron after two multi-million funding round. Thus, it is very clear that investors are rushing to pour money into crypto companies after looking at the success of Coinbase.
Binance.US has been working on a funding round since August this year with many claiming the platform might go for an IPO soon. The crypto exchange was looking for $100 million in funding in its early phase, but now it seems that the crypto platform would raise several hundred million in its first fundraising.
Binance Could Become Most Valuable Crypto Company
Binance is a global crypto platform and is considered the biggest given the scope of its services and daily trading volumes. Some insider reports have claimed that Binance could well be valued at $300 billion after its first round of funding.
CZ also said that they have finalized a headquarter for the firm but would only reveal it once it’s sure of all regulatory clearance from the local government. The funding news comes after months of legal and regulatory trouble for the top cryptocurrency exchange and it seems things have started to fall back in place for the leading crypto platform.