Cryptocurrency exchange Binance US is reportedly seeking to raise up to $100 million in fresh capital at a valuation of approximately $1 billion, according to a Bloomberg report. The targeted valuation marks a sharp decline from the $4.5 billion pre-money valuation the Miami-based exchange commanded during its 2022 seed financing round, when it secured more than $200 million from backers including Foundation Capital, RRE Ventures, Circle Ventures, and Vaneck.
The new fundraising effort comes as Binance US attempts to rebuild its U.S. operations following years of regulatory pressure, banking disruptions, and shrinking market share. In June 2023, the U.S. Securities and Exchange Commission filed a lawsuit against Binance-related entities and founder Changpeng Zhao, which disrupted banking relationships and curtailed trading activity before the agency dismissed the suit with prejudice in May 2025.
Since restoring automated clearing house dollar deposits and withdrawals in February 2025, the exchange has taken steps toward recovery. Under CEO Stephen Gregory, who was appointed in March 2026, Binance US has introduced lower trading fees and laid out broader growth ambitions.
Management's expansion plans reportedly include pursuing derivatives licenses, offering perpetual futures, exploring prediction markets, and expanding operations across all 50 states. However, the exchange faces intense competition in the U.S. market from established centralized platforms such as Coinbase and Kraken. Binance US has not publicly confirmed the Bloomberg report regarding the private funding round.
