Binance.US has raised $200 million

The valuation of the US arm of the exchange rose to $4,5 billion at the end of the round

07.04.2022 - 10:25

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2 min

What’s new? Binance.US has reported a seed round in which the arm of the largest cryptocurrency exchange by trading volume raised $200 million from large funds and investors.

Source: Twitter.com

What else is known about the funding? In the seed round, Binance.US was backed by RRE Ventures, Foundation Capital, Original Capital, VanEck, Circle Ventures, Gaingels, and Gold House. The proceeds will be used to expand the list of services, marketing, educational programs, and the development of the exchange’s trading platform.

What had happened before? Binance has made two major investments. The first is for the developer of the Axie Infinity project and the second is for the STEPN application.

The founder of the Binance exchange Changpeng Zhao was named the richest person in the crypto industry by Forbes magazine. His fortune was estimated at $65 billion. The ranking includes 19 billionaires who got rich working in the field of blockchain and digital assets.

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