Changpeng Zhao, CEO of Binance, also known as “CZ”, said that the US branch of Binance.US crypto exchange around the world is expected to complete a round of funding to raise “several hundred million.”
In a speech at the Bloomberg New Economy Forum, Czechoslovakia said they did not know the exact amount. However, the official confirmation of the funding round may come “in a month or two”.
As the Cointelegraph reported, regulatory concerns surrounding Binance.US eventually led investors to return to a $ 100 million round of funding. Brian Brooks, the former CEO of Binance.US, first harassed potential investors, including Ray Lane of venture capital firm GreatPoint and CEO of Japanese holding company SoftBank, claiming that Binance.US would comply with all US regulatory standards. …
Concerns about CZ’s 90% ownership of the stock market and concerns about a US government’s money laundering and tax investigation led Brooks to withdraw.
Despite the difficulties, CZ remains confident that Binance.US will be able to raise the necessary capital and go public. Earlier this year, he said that “top tier” investors are still interested and that Binance.US itself plans to launch a listed offer soon, especially after competitor Coinbase debuted on Nasdaq. He does not even rule out a Binance IPO in the future.
“From a stock exchange standpoint, it’s probably best to have a few rounds of financing before that.”
RELATED: Binance launches Tier 2 ETH with Arbitrum One integration
During the last interview, CZ admitted that he is only chairman of the board of Binance.US and is not involved in the day-to-day running of the stock exchange.
The news came when the cryptocurrency and blockchain sectors exploded and new investors poured into them. Several cryptocurrency-related companies went public in the last year and many have seen significant growth. Following the merger of $ 4 billion specialty companies, the mining company BitDeer plans to be listed on Nasdaq.