Binance.US Seeks Up to $100 Million in Funding at $1…

Binance.US is reportedly in talks to raise as much as $100 million at a valuation of about $1 billion, a steep markdown for the U.S. crypto exchange as it works to rebuild market share and push into new products. The private round is still being negotiated, and its size, valuation and investor lineup could change before it closes.

The comparison to its last external raise is stark. In April 2022, Binance.US brought in more than $200 million at a $4.5 billion pre-money valuation. A $1 billion valuation would represent a reduction of roughly 78% from that level.

A valuation that prices in the downturn

The proposed figure is one of the clearest financial gauges yet of what the exchange lost after 2022. At the time of its previous raise, the company described itself as profitable during a period of rapid crypto adoption. By March 2024, court filings showed revenue down 75% and more than 200 jobs cut following the SEC's 2023 lawsuit. Banking relationships proved difficult to hold onto, and Binance.US suspended direct U.S. dollar deposits and withdrawals, operating without those rails for close to two years.

Conditions have since improved. Dollar deposits and withdrawals returned via ACH in February 2025, and dollar trading was later expanded to more than 50 pairs. In May 2025, the SEC dismissed its civil enforcement action against Binance Holdings, Binance.US entities and founder Changpeng Zhao with prejudice, saying the decision was made as a policy matter and did not necessarily reflect its position elsewhere.

With that behind it, Binance.US has shifted toward expansion: it has reduced trading fees to revive volumes and is pursuing business beyond spot trading, including plans to seek CFTC Designated Contract Market status for prediction markets, with management also discussing perpetual futures. A $100 million injection would fund those efforts, liquidity rebuilding and customer acquisition against larger U.S. rivals.

Some regulatory context still applies, though it centers on the global exchange rather than the U.S. arm. Binance Holdings pleaded guilty in November 2023 to violations tied to anti-money-laundering, money-transmission and sanctions laws, agreeing to $4.3 billion in penalties and forfeiture. Zhao pleaded guilty to failing to maintain an effective AML program, served four months in prison and received a presidential pardon in October 2025. Binance.US was not party to the Justice Department settlement.

World Liberty Financial, the crypto business co-founded by President Donald Trump and family members, was reportedly informed about the fundraising but is not taking part. The venture already has ties to the wider Binance ecosystem: in 2025, Abu Dhabi-based MGX used World Liberty's USD1 stablecoin to settle a $2 billion investment in Binance.