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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2022\/04\/06\/binance-us-raises-over-200m-in-first-seed-round-hitting-a-4-5b-valuation-as-it-preps-for-ipo\/<\/a><\/br> Binance.US raised over $200 million in its first external funding round, putting its pre-money valuation at $4.5 billion as it builds out a roadmap for an initial public offering (IPO), its CEO Brian Shroder told TechCrunch.<\/p>\n The company is targeting an IPO in two to three years from April 6, Shroder said. This is the first time Binance.US<\/a> has taken external investor capital, and no valuation has been shared publicly before, he added.<\/p>\n \u201cI personally feel that there is value in going through the process of going IPO because it requires a lot of regulatory discussions and those are things we welcome and are excited about,\u201d Shroder said.<\/p>\n Its investors include RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures. Diversity and inclusion mission-driven firms like Gaingels<\/a>, an LGBTQIA+\/Allies investment syndicate, and Gold House<\/a>, a nonprofit focused on enabling more multicultural representation and societal equity, also joined the round.<\/p>\n The crypto-focused firm launched in 2019 as a separate legal entity from the well known Binance.com, which is one of largest cryptocurrency exchanges in the world.<\/p>\n Binance.US is one of the largest digital asset exchanges by trading volume in the U.S. with a 24-hour trading volume of $306 million<\/a>, according to data on CoinMarketCap. Other competitors like FTX US and Coinbase had 24-hour trading volumes of $197 million<\/a> and $3 billion<\/a>, respectively.<\/p>\n Its highest fee per transaction is 0.1% and becomes lower the more volume someone trades, Shroder said. For reference, it\u2019s one-sixth of Coinbase Pro\u2019s fee<\/a>, 0.6%, for trades under $10,000.<\/p>\n Shroder claims Binance.US is not a subsidiary or affiliate, but it is tied to Binance.com<\/a> through its common founder, Changpeng Zhao, who is also a chairman at Binance.US, and through its legal and licensing agreements with Binance.com. \u201cWe have licenses for the core technology around the matchbox engine and then licenses for the name rights in the United States.\u201d<\/p>\n
\nBinance.US raises over $200M in first seed round, hitting a $4.5B valuation as it preps for IPO<\/br>
\n2023-01-20 22:56:53<\/br><\/p>\n