Changpeng Zhao confirms plans on Binance.US to conduct a new round of financing

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Changpeng Zhao confirms plans on Binance.US to conduct a new round of financing By Angel Di Matteo @shadowargel

According to Zhao, Binance.US It is seeking to raise at least $ 200 million and a funding round could be launched in the next two months.

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The address of Binance for the US market, Binance.US, It appears to have plans to launch a new funding round in which it hopes to raise at least $ 200 million.

Binance.US will organize financing round

This was confirmed by the CEO of Binance, Changpen Zhao (CZ), who during his participation in the New Economy Forum of Bloomberg revealed that this round will arrive in the next two months.

Although Zhao is listed as chairman of the board of directors of Binance.US In the US, he acknowledged that he is not very involved with the operations of this exchange address at the local level. However, he clarified that despite the points against which he has faced the possibility of financing himself through financing rounds.

Concerns about Binance.US

Let’s keep in mind that Binance.US It has been at the center of regulatory concerns, which has also led to operational conflicts following the departure of key executives. In the past, the exchange tried to run a $ 100 million funding round, but all of this uncertainty caused potential investors to opt out.

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However, according to a report presented by the media Cointelegraph, one of the aspects that played against the financing of Binance.US It was the fact that Zhao could have a 90% stake in the process, becoming the central figure behind the decisions, as well as being the person who is putting his face to the large number of investigations that have emerged against the exchange both in the US and in other countries. It is hypothesized that it was precisely this that led Brian Brooks, former CEO of said division, to resign from his position.

Despite all these difficulties, Zhao ratified that Binance.US it could attract the capital you need to carry out your plans to go public. In previous interviews, CZ indicated that there are high-caliber investors interested and that there will be an initial public offering soon. (IPO), although with these new comments we see that a financing round will come first.

In this regard, Zhao commented:

“From an IPO perspective, it’s probably best to do a few rounds of funding before then.”


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Source: Cointelegraph, Bloomberg

Version by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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