Binance US Seeks Up to $100 Million at Lower Valuation: Bloomberg
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Binance US is reportedly pursuing up to $100 million in funding at a roughly $1 billion valuation as it works to rebuild its American business.
Binance US is looking to raise as much as $100 million in new funding, Bloomberg reported, as the crypto exchange seeks to restore its footing in the United States.
The proposed fundraising would value the company at about $1 billion, compared with a $4.5 billion pre-money valuation in 2022.
The effort follows years of regulatory difficulties, declining market share and disruptions to banking relationships. According to the report, the exchange is seeking capital as part of plans to rebuild and expand its American operations.
Source: Bitcoin.com News
