Binance US has reportedly sought up to $100 million at a valuation near $1 billion to expand its American business, including a possible entry into prediction markets.
Summary
- Up to $100 million in fresh capital would support the exchange’s reported U.S. expansion plans.
- A valuation near $1 billion compares with its $4.5 billion pre-money valuation in 2022.
- World Liberty Financial has reportedly decided against investing despite its ties to global Binance.
- Prediction markets, state license restoration and outside liquidity feature in the exchange’s reported plans.
Bloomberg reported on Oct. 15 that Binance US is pursuing the private funding round as competition for American crypto customers increases. The proposed financing would support its expansion against platforms including Coinbase, Kraken, Robinhood and Gemini.
Alongside the capital search, the report said Binance US is considering prediction markets, restoring certain state money transmitter licenses and sourcing liquidity from outside providers, potentially including the global Binance exchange.
Binance US seeks fresh funding below its previous valuation
At roughly $1 billion, the valuation sought in the latest discussions would be below the $4.5 billion pre-money valuation attached to Binance US’s 2022 financing. Bloomberg reported that the earlier round brought in about $200 million.
The report placed the fundraising effort after several years of regulatory setbacks for the Binance brand. The global exchange reached a criminal settlement with the U.S. Justice Department in 2023, while its American affiliate faced a separate civil case brought by the Securities and Exchange Commission.
In July 14 coverage, crypto.news reported that chief executive Stephen Gregory had set a 20% market share target for the U.S. platform. Gregory said the business wanted to regain the share it once held by bringing back retail traders and improving liquidity.
Describing the preceding two years as a period of “hibernation,” Gregory said the company had contacted its largest customers to learn what would persuade them to return.
According to that July report, Gregory also stressed that Binance US operates as a separate, U.S.-only business with its own governance, despite sharing a brand and beneficial owner with Binance.com.
On trading costs, the same coverage said Binance US had introduced zero maker fees and taker fees of 0.02% or less across more than 250 spot pairs in April. Selected pairs carried a 0.01% taker fee.
Gregory described the platform as “essentially almost a no-fee exchange” and identified custody and additional trading products as potential revenue sources.
Prediction market plans include a federal license route
Before the latest fundraising report, Binance US had already outlined plans to pursue a federal license for event-based trading.
A July 30 report detailed its prediction market license plans, citing journalist Eleanor Terrett’s account of comments Gregory made at the Rare Evo conference in Las Vegas.
According to that account, Gregory said the company planned to apply in August for designated contract market status from the Commodity Futures Trading Commission. The reported timetable concerned a planned application, rather than an approval.
The July coverage said Gregory had also discussed seeking permissions for derivatives and perpetual futures, extending the proposed product lineup beyond spot cryptocurrency trading.
For American customers, the expansion described in those reports would involve products offered under a different regulatory framework from the platform’s existing spot services. The July report said the proposed launches remained subject to regulatory approval.
On access to its existing services, the July 14 coverage noted that Binance US had restored dollar deposits and withdrawals in most supported states in February 2025. The same report said availability still varied by location, with some states unsupported or limited to crypto-only services.
Bloomberg’s latest account said restoring certain state money transmitter licenses remains among the options under consideration.
World Liberty declines despite Binance’s USD1 ties
For the proposed funding round, Bloomberg reported that Trump-backed World Liberty Financial knew about the financing but decided against participating.
The report also described existing links between World Liberty and the global Binance platform. Citing Arkham data, Bloomberg said Binance holds a large share of the supply of USD1, World Liberty’s dollar-pegged stablecoin.
Earlier reporting on Feb. 10 examined that USD1 supply concentration. Citing Forbes and Arkham Intelligence, the report put approximately $4.7 billion of USD1 on Binance, representing nearly 87% of the token’s $5.4 billion supply at the time.
The February figures included assets in Binance-controlled wallets and customer accounts held on the platform, according to that coverage.
As part of its stablecoin promotions, Binance announced in late January that USD1 holders would receive $40 million worth of World Liberty’s WLFI token, the February report said.
Bloomberg also cited Abu Dhabi state-backed investment firm MGX’s $2 billion investment in global Binance in 2025, which was settled using USD1.
Global Binance remains under U.S. compliance scrutiny
Separately, Sept. 22 coverage described a reported Iran sanctions investigation involving global Binance. Citing Bloomberg’s account, the report said federal prosecutors were examining whether the exchange knowingly permitted trading that violated U.S. sanctions.
According to that coverage, Manhattan prosecutors were leading the inquiry, with the Justice Department’s Criminal Division also participating. Binance said it maintained zero tolerance for sanctions violations and cooperated with law enforcement.
In its November 2023 resolution, the Justice Department said Binance Holdings Limited, the operator of Binance.com, pleaded guilty to offenses involving anti-money laundering requirements, unlicensed money transmission and sanctions violations.
Under that agreement, the department said Binance accepted approximately $4.3 billion in penalties and forfeiture, committed to improving its anti-money laundering and sanctions compliance programs, and agreed to retain an independent compliance monitor for three years.
