Binance US on track for IPO

Binance US on track for IPO

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Binance US is on track for an initial public offering (IPO) in two to three years, with a “couple of hundred million dollars” in funding to be announced in April, Binance US CEO Brian Shroder said at the Binance Blockchain Week on Monday. 

See related article: Binance US under probe for ties with trading affiliates: report

Fast facts

  • Binance founder and chief Changpeng Zhao, popularly known as ‘CZ’, had first mentioned the fundraising in November last year. 
  • In Q4 2021, Binance US booked more profits than Uber did since its inception, Shroder said. 
  • Binance US is neither a subsidiary nor an affiliate of Binance, the largest cryptocurrency exchange in terms of trading volume.
  • Binance US will be licensed in all jurisdictions in the country by the end of 2022 — it is currently seeking licenses in New York, Texas, Idaho, Hawaii and Vermont. 
  • In February, the Securities and Exchange Commission launched an investigation into the relationship between Binance US and two trading firms with ties to CZ. 

See related article: Binance may join sanctions imposed on Russian targets

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