Binance US is seeking up to US$100 million at about a US$1 billion valuation to expand its US business, a person familiar with the matter said. The terms could still change.

World Liberty Financial, a crypto venture co-founded by US President Donald Trump, was informed of the fundraising but is not participating, the person said.

Binance US raised more than US$200 million in 2022 at a US$4.5 billion pre-money valuation. The crypto-exchange later lost market share after Binance Holdings Ltd.’s 2023 settlement with US authorities.

BAM Trading Services Inc. operates Binance.US separately from the global Binance exchange, though Binance co-founder Changpeng Zhao is a major shareholder in both. The US Securities and Exchange Commission named both BAM and Binance Holdings in a lawsuit dismissed on May 29, 2025.

Binance US has discussed using external trading liquidity, potentially from global Binance, though no approach has been decided, the person said. The exchange is also seeking to restore some state money-transmitting licenses and recruiting market makers through a formal program.

🔗 Source: Bloomberg

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