Binance’s affiliate United States-based cryptocurrency exchange Binance US is targeting an initial public offering (IPO) in 2024, according to Binance CEO and founder Changpeng Zhao.
BinanceUS is planning to close a large private funding round in the next two months that would allow the firm to become more independent from the global exchange, Zhao said on Sept. 1 in an interview with tech publication The Information.
Zhao is confident that the global crypto exchange will survive the ongoing regulatory crackdown by global regulators, and that Binance US will move toward a public listing in three years. “Binance.US is just going to do what Coinbase did,” Zhao stated. He said that Binance generated $800 million to $1 billion in profit last year.
The news comes amid more global regulators raising concerns about Binance’s operations, with the Monetary Authority of Singapore (MAS) adding Binance’s website to its investor alert list on Sept. 1. The list provides a record of unregulated persons who “may have been