Binance US has closed its first round of funding. It raised more than $200 million and brought the forward valuation to $4.5 billion.
The company raised more than $200 million in its seed round, with investors including RRE Ventures, Foundation Capital, Original Capital, VanEck, Circle Ventures, Gainels and Gold House, and none of the main investors in the round.
The fundraising round comes seven months after Binance CEO Changpeng Zhao said in August that Binance US expects to close funding from cryptocurrencies. Soon, Binance US CEO Brian Brooks hadleaveWeb trading after joining for three months byIt is reported thatAfter failing to raise $100 million
With the new funds in hand, Binance US aims to offer new products and services, but a Binance.US spokesperson declined to comment on specific offers. But it said it was exploring a host of new services or through strategic mergers and acquisitions. It is expected to bring some of these services to market in the near term.
Binance.US currently offers crypto spot trading to retail and institutional clients. It launched in 2019 and is currently available in 45 US states and eight territories. and plans to provide service in every US state and territory.
“Binance.US continues to work closely with state regulators to obtain approval. and to be able to provide services across all US states,” said a Binance.US representative.
Following Brooks’ departure, Binance.US promoted the company’s chairman and board member, Brian Shroder, to CEO in October. since then It has doubled its workforce, with a Binance.US spokesperson saying it currently has more than 350 and expects to continue to employ in the areas of marketing, compliance and risk, customer support, products. and technology
As a result, Binance.US also plans to raise additional funds in the coming months. which may be offered for sale to the general public “Over the next two to three years,” the spokesman said.
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