Seeking Alpha
2022-06-21 21:37:33

Binance.US seeks to raise $50M more at $4.5B valuation - CoinDesk

After its $200M fundraise in April, Binance.US, the American arm of cryptocurrency exchange Binance, is exploring raising an additional $50M at a $4.5B valuation, people familiar with the matter told CoinDesk on Tuesday. The fundraise, which would represent Bianance.US' seed round, will target "strategic partners," the people told CoinDesk. Binance.US CEO Brian Shroder recently said the upcoming fundraise would have the exchange “entering the crypto winter from a position of strength,” he told Protocol in an interview June 16, adding that “investors are not scared from investing in us further." The potential move comes as some of its peers take cost-cutting measures as crypto winter sets in. Coinbase Global (NASDAQ:COIN), America's largest crypto exchange by daily trading volume, had cut its headcount by 18% "to ensure we stay healthy during this economic downturn." By contrast, Binance recently said it's looking to hire 2K staff. Previously, (May 19) Binance.US hired ex-Uber lawyer as

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