Binance.US is seeking to raise up to $100 million in a private funding round. The capital raise targets a valuation of approximately $1 billion. This figure represents a significant decrease from the $4.5 billion valuation reached in 2022.
The firm intends to use the new funding to expand its U.S. business. It aims to regain market share lost after its parent company settled with U.S. authorities in 2023.
Binance.US plans to restore money transmission licenses in several states. The company is also exploring ways to secure external trading liquidity to compete in the digital-asset marketplace.