❯ Binance.US is reportedly seeking up to $100 million at about a $1 billion valuation, down from $4.5 billion in 2022

Under a quarter of the last priceAccording to Cointelegraph, citing Bloomberg, crypto exchange Binance.US is seeking to raise up to $100 million privately at about a $1 billion valuation to expand its US business. When it raised $200 million in 2022, its pre-money valuation was $4.5 billion.

Trying to win back shareThe report says the round is part of Binance.US’s effort to regain market share from larger rivals after parent Binance’s 2023 settlement with US authorities, under which Binance Holdings agreed to pay $4.3 billion in penalties and accept additional monitoring.

World Liberty sits outBinance.US informed crypto platform World Liberty Financial about the round, but it will not participate. The drop from $4.5 billion to about $1 billion reflects Binance.US’s position after losing US market share; whether it can expand again depends on whether new money brings back users and trading volume.

▮ SIGNALAn exchange still raising money after its valuation fell nearly 80% shows that in the US crypto market, a license and a compliance record remain valuable assets in themselves.