Binance.US, the US arm of cryptocurrency exchange Binance, is seeking to raise up to $100 million at a valuation of around $1 billion to expand its business, according to a person familiar with the matter. The terms of the proposed fundraising could still change.
World Liberty Financial, a crypto venture co-founded by US President Donald Trump, was informed of the fundraising but is not participating, the source said.
Binance.US raised more than $200 million in 2022 at a pre-money valuation of $4.5 billion. However, the exchange subsequently lost market share following Binance Holdings’ 2023 settlement with US authorities.
BAM Trading Services operates Binance.US separately from the global Binance exchange, although Binance co-founder Changpeng Zhao is a major shareholder in both. The US Securities and Exchange Commission previously named both companies in a lawsuit that was dismissed on May 29, 2025.
Binance.US has also discussed using external trading liquidity, potentially from global Binance, although no decision has been made. The exchange is working to restore certain state money-transmitting licenses and recruit market makers through a formal program.
