Journalists learned about Binance.US plans to raise $50 million

Journalists learned about Binance.US plans to raise $50 million

Journalists learned about Binance.US Plans to Raise $50M

Binance, the American division of bitcoin exchange, plans to raise an additional $50M, according to CoinDesk, citing sources.

In April, Binance.US raised $200 million in a seed round at a $4.5 billion valuation. The company was backed by RRE Ventures, Foundation Capital, Original Capital, VanEck, Circle Ventures, Gaingels, Gold House and a number of other firms.

New funding will be a continuation of the seed round, and not the stage of Serie A, said the interlocutors of the publication. «strategic partners» will take part in it.

Binance.US CEO Brian Schroeder, announcing earlier the attraction of new investments, noted that this will allow the company «to enter the crypto winter from a position of strength».

< p>«Investors are not afraid to invest additional funds in us», he added.

At the same time, Schroeder said that the company would announce the attraction of financing in July.

As the market plunges, rival cryptocurrency exchanges including Coinbase, Gemini and Crypto.com have announced layoffs. The head of Binance.US reassured the employees, urging them to «ignore the noise».

«There is no world in which we have come out of this cryptowinter not in a stronger position, considering everything we have done to enter growing and well-resourced,” Schroeder said.

Binance.US launched in the US in 2019. Schroeder took over as CEO in October 2021. In this position, he replaced the former head of the Office of the Comptroller of the Currency within the US Treasury Department, Brian Brooks, who worked in the company for about three months.

Recall that the SEC initiated an investigation into links between Binance.US and two affiliates with the founder of the parent company Changpeng Zhao trading firms, according to the Wall Street Journal.

In June, a lawsuit was filed against the American platform Binance on behalf of investors LUNA and TerraUSD (UST).

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