Binance.US looks to raise up to $100 million for a US comeback

Binance.US wants more money. The exchange is looking to raise as much as $100 million to strengthen its US business, according to Bloomberg. The details of the raise The exchange, operated by BAM Trading Services, is reportedly seeking up to $100 million in new capital. The goal is to build out its US digital asset exchange operations. The terms of the round remain speculative. No final size, valuation, or investor list has been confirmed. Binance.US runs as an independent, US-licensed company. It is legally separate from the global Binance platform and holds regulatory approvals in multiple states. Regulatory concerns remain an ongoing obstacle for potential backers. A tale of two fundraises In 2021, Binance.US set out to raise $100 million. That effort failed, reportedly due to regulatory concerns. The fallout reached the corner office. CEO Brian Brooks departed after just three months in the job. Then came April 2022. Binance.US closed a seed round of over $200 million at a pre-money valuation of $4.5 billion. Notable backers in that round included VanEck and Foundation Capital. New management, new playbook Leadership has turned over again. Stephen Gregory took over as CEO in Ma...