Binance.US Seeks $100M at $1B Valuation, Down From $4.5B

Binance.US is reportedly seeking up to $100 million in a private funding round at a target valuation of roughly $1 billion, according to a Bloomberg report published Thursday and covered by Coincentral. That figure sits far below the $4.5 billion pre-money valuation the U.S. exchange carried after its 2022 raise.

Cointelegraph, which also reported the funding plan, said the exchange is pursuing private investment to expand its business and regain market share after a 2023 settlement between Binance Holdings Ltd. and U.S. authorities. Both outlets trace the lower valuation to that settlement, which required Binance Holdings to pay $4.3 billion in penalties and accept additional monitoring and oversight. Changpeng Zhao, then CEO, pleaded guilty to a felony charge, served a four-month prison sentence, and was pardoned by President Donald Trump in 2025.

Key facts

• Binance.US is reportedly seeking up to $100 million at a target valuation of about $1 billion, per a Bloomberg report covered by Coincentral and Cointelegraph.
• Its 2022 seed raise was $200 million at a $4.5 billion pre-money valuation.
• World Liberty Financial, the crypto platform co-founded by Trump and his sons, was told about the round and will not take part.
• Binance Holdings Ltd.’s 2023 DOJ settlement over anti-money laundering rules included $4.3 billion in penalties and added monitoring, and the DOJ is now reportedly probing the exchange’s compliance with the agreement.
• The exchange is reportedly considering prediction markets, restoring certain state money transmitter licenses, and tapping outside liquidity, possibly from its global arm.

Competing for share in a tougher market

Binance.US faces established rivals including Coinbase, Kraken, Robinhood and Gemini. The planned raise is framed by both reports as a way to compete with larger operators and rebuild the U.S. business. Coincentral reported the exchange may also examine prediction markets and seek to restore some state money transmitter licenses, steps that would broaden the products and permissions available to it.

The reports say Binance.US is also looking at outside liquidity sources, which could include liquidity from its global arm. Coincentral reported that Abu Dhabi state-backed investment firm MGX put $2 billion into Binance’s global arm last year, a deal that used the USD1 stablecoin. Binance holds a large share of the USD1 supply and has run promotions involving the stablecoin, according to that report.

The two accounts differ in emphasis rather than substance. Coincentral pairs the funding plan with details on World Liberty Financial’s ties through USD1 and with the reported DOJ compliance review. Cointelegraph frames World Liberty Financial’s decision not to invest alongside the earlier “controversial $2 billion investment between an entity tied to the United Arab Emirates royalty and World Liberty” using the USD1 stablecoin.

Why it matters

The implied down round matters for anyone who tracks the U.S. venue’s standing: a $1 billion target would mark a sharp reset from the $4.5 billion figure the company held four years earlier, and it reflects the compliance and market-share costs of the 2023 settlement. A successful raise would give Binance.US capital to challenge Coinbase, Kraken, Robinhood and Gemini at a time when the reported DOJ review adds scrutiny. For the wider market, the round’s pricing is a read on how investors weigh a U.S. exchange with a recent enforcement history against its larger global affiliate.

What to watch

Two concrete threads will shape the next phase: whether Binance.US closes the reported raise and at what final valuation, and the outcome of the DOJ’s reported probe into compliance with the 2023 settlement, which required tightened anti-money laundering rules and outside compliance monitors. Neither has been resolved by the reports published this week.

This article is not financial advice. Cryptocurrency markets and private funding valuations are volatile and uncertain, and reported terms may change.

Disclaimer: This article is for information only and is not investment, financial or trading advice. Cryptocurrency prices are highly volatile. Always do your own research.

Sources: CoinCentral, Cointelegraph