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The United States subsidiary of the cryptocurrency exchange Binance is planning to close a crucial private funding round in the upcoming couple of months to become more independent from the parent exchange.
Moreover, Binance’s affiliate United States-based digital asset exchange, Binance.US, is planning to do an IPO in 2024, as per the founder and CEO of Binance, Changpeng Zhao.
In a recent interview with tech publication The Information, Zhao mentioned that Binance.US is working out to close a large private funding round in the next 2 months that would permit the firm to become more independent from the global exchange.
Zhao is assertive that the global virtual currency exchange will survive the continuing regulatory suppression by global regulators, and that Binance.US will move toward a public listing in 3 years.
Zhao mentioned,
“Binance.US is just going to do what Coinbase did”.
He further added that Binance generated around a billion dollars worth of profit last year.
According to previous media reports, the crypto exchange has been under investigation from global financial regulators in the past couple of months. The exchange has been issued with warnings by authorities in several nations including the United Kingdom, the United States, Italy, Canada, Thailand, Japan, and others. Notably, the exchange has emphasized its obligation to cooperate with the financial regulators several times.
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