Binance US is reportedly seeking up to $100 million in fresh capital at a valuation of roughly $1 billion, a striking reversal from its $4.5 billion pre-money valuation in 2022. Bloomberg reports that the exchange wants to rebuild its American business after years of regulatory trouble, shrinking market share, and banking disruptions, with expansion plans spanning derivatives, prediction markets, and additional states.
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Key Takeaways
- Binance US is reportedly seeking $100 million at a targeted valuation of approximately $1 billion.
- Binance US previously raised more than $200 million in 2022 at a $4.5 billion pre-money valuation.
- CEO Stephen Gregory is pursuing lower fees, new products and broader U.S. access for Binance US.
Binance US Hunts for $100 Million After Its $4.5 Billion Heyday
Four years after investors valued Binance US at $4.5 billion before its previous funding round, the American crypto exchange is reportedly back on the fundraising circuit with a considerably smaller price tag. The company is seeking as much as $100 million at a valuation of approximately $1 billion, according to a Bloomberg report published Thursday.
The proposed financing arrives as Binance US attempts to reclaim its place in an increasingly crowded American market following regulatory battles, banking disruptions, and a bruising collapse in trading activity.
A Billion-Dollar Comeback With a Smaller Price Tag
Bloomberg journalists Ben Weiss, Olga Kharif, and Muyao Shen reported that the Miami-based exchange is pursuing a private funding round, citing a person familiar with the confidential discussions. The targeted valuation represents a steep departure from April 2022, when Binance US secured more than $200 million in seed financing at a $4.5 billion pre-money valuation. Investors included Foundation Capital, RRE Ventures, Circle Ventures, and digital asset manager Vaneck.
The exchange’s fortunes changed dramatically in June 2023 when the Securities and Exchange Commission sued Binance-related entities and founder Changpeng Zhao. Banking relationships deteriorated, dollar services were interrupted, and trading activity contracted. The SEC subsequently dismissed its lawsuit with prejudice in May 2025.
From Regulatory Retreat to Expansion Plans
Binance US restored dollar deposits and withdrawals through automated clearing house transfers in February 2025, beginning a gradual return to conventional banking services. Under CEO Stephen Gregory, appointed in March 2026, the exchange has pursued aggressive fee reductions, including zero maker fees and taker fees as low as 0.02%.
Its ambitions extend beyond ordinary spot trading. Management has discussed expanding across all 50 states, pursuing derivatives licenses, and exploring perpetual futures, prediction markets, and additional financial services. Competition remains fierce, with leading centralized exchange (CEX) platforms like Coinbase and Kraken already commanding established American customer bases.
For Binance US, the proposed capital injection offers an opportunity to rebuild liquidity and distribution. Yet the reported valuation presents an awkward financial contrast: Four years after commanding a multibillion-dollar price tag, the exchange is courting investors at roughly a quarter of its former valuation. This story is developing and Bloomberg’s reporting has not been publicly confirmed by Binance US.