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Zhao didn’t reveal the exact amount in the expected funding for Binance.US, saying that it could be a "couple hundred million" dollars.
Changpeng “CZ” Zhao, the founder and CEO of crypto exchange Binance, expects that the company’s American spin-off will soon announce a "couple hundred million" dollars in funding.
“I think that’ll come in about a month or two,” Zhao said at the Bloomberg New Economy Forum in Singapore on Friday.
With over $1.2 billion traded in the last 24 hours, Binance.US is currently the third-largest crypto exchange in the U.S. after Coinbase and Kraken, according to CoinGecko.
The prospective funding round also follows the resignation of Binace.US CEO Brian Brooks in August. Brian Shroder, a former executive at Uber and Ant Group, was appointed as the exchange’s president in September.
According to Zhao, Binance.US may file for an IPO at a later stage, with Coinbase laying the groundwork for what that could look like. However, “it's probably best to have a few rounds of financing before that,” he said.
Previously, Zhao revealed that Binance.US. plans to go public within the next three years.
In recent months, Binance has been mired in regulatory controversies as well as questions around the location of the firm’s headquarters.
While Zhao previously suggested that Binance may well survive without a physical office, there’s an obvious turnaround in his approach to the matter.
He admitted that Binance will need “a centralized entity to work well with regulators” in September, and reiterated this once again today, adding that an announcement will be made soon. ( source : decrypt.co )