Binance.US aims for a ‘mega funding,’ reveals CZ

Binance.US aims for a ‘mega funding,’ reveals CZ


Binance CEO Changpeng Zhao revealed that the United States branch of worldwide crypto exchange, Binance.US, is expected to complete a funding round to raise a “couple hundred million.”

Speaking at the Bloomberg New Economy Forum, CZ claimed that he was unaware of the precise amount. However, the official confirmation of the financing round may come in “about a month or two.”

As reported by Cointelegraph, regulatory worries surrounding Binance.US ultimately resulted in investors backing out of a $100-million funding round. Brian Brooks, the former CEO of Binance.US, had initially chased potential investors, including Ray Lane from venture capital firm GreatPoint and a senior executive at Japanese holding company SoftBank, under the pretext that Binance.US would follow all United States regulatory standards.

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However, the investors backed out due to fears

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