Binance US to raise funds in the coming months

Binance US to raise funds in the coming months

Zhangpeng Zhao (CZ) wants Binance US (US division of cryptocurrency exchange) to become a public trading company. To achieve this, according to him, the company must fully fulfill one condition: the lift “Some rounds of the table.

Fundraising

Revealed by the CEO of Binance, during the Bloomberg New Economic Forum in Singapore. Among other things, we know that the company will soon make a sense Fundraising. What is the amount expected by company leaders? CZ admitted that they did not know the exact amount of the new fund. However, for him, it would be a substantial sum.

I think a few hundred million dollarsMr. Zhao explained. “For an IPO opportunity, it is best to fund some rounds beforehand.

Two months ago, CZ created a timeline for a possible Binance US public offering. Had explained that the plan should be Achieved over the next three years, Car AccountingCoinbase will do what it did“In addition, the CEO said that the company would relocate its headquarters, but in this regard, he declined to give further details. A new official announcement will be released.”Where very soon“, he said.

Like many other cryptocurrency exchanges, Binance has seen its earnings grow dramatically and its trading volumes explode. For good reason, The Most cryptocurrencies have reached historical heights For the past few weeks. When asked if his company has a profit of billions, CZ responded: “Approximately, yesWith so much revenue, the company plans to deliver Lower cost than its competitors, The CEO underlined.

Finance needs to change its structure

Cryptocurrency exchange has been difficult over the past few years. In fact, it has received numerous restrictions from regulators in many countries. The FSCA of South Africa stated that it did not have the necessary permissions to provide brokerage services or to provide investment advice to individuals in the country.

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CZ said in September that the company would change its structure to cope with the critical waves on its company. Promised that the company would become Accredited financial institution with a centralized head office. ⁇Four years ago, we wanted to embrace decentralization, but we manage decentralized exchange well. We need a change. We need to improve. We make these changes to make it easier for controllers to work with us. ⁇

Has Mr. Zhao’s position changed over time? No! During his last public appearance, he reaffirmed his commitment to enforcing more specific rules for the digital assets sector. We need control, I am not a complete libertarian, I am not an anarchist», He scored.

The U.S. branch of Binance Cryptocurrency Exchange plans to raise a few million dollars in the coming months. This information was officially announced by its CEO Zhang Peng Zhao during the Bloomberg New Economic Forum.

TCT writing

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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