Binance.US Goes Shopping With a $1B Bag, But Trump's Crypto Crew Says "No Thanks" 🛒

Binance.US, the American affiliate of the world's largest crypto exchange, is in talks to raise up to $100 million at a valuation of approximately $1 billion, according to a Thursday Bloomberg report. The proposed round marks a sharp step down from the $4.5 billion pre-money valuation the exchange secured in 2022, when it raised $200 million in seed funding.

The U.S. arm plans to deploy the fresh capital to expand its crypto business and regain ground against larger rivals including Coinbase, Kraken, Robinhood, and Gemini, as competition for American retail traders intensifies.

Binance.US informed World Liberty Financial, the crypto platform co-founded by U.S. President Donald Trump and his sons, about the funding round, but the Trump-linked company will not be participating. World Liberty Financial's decision comes despite Binance's existing ties to the venture: Binance holds a large share of World Liberty Financial's USD1 stablecoin supply and has run promotions involving the token.

The funding push follows a turbulent period for Binance's parent. In 2023, Binance Holdings Ltd. settled with U.S. authorities, agreeing to pay $4.3 billion in penalties and accept additional monitoring and oversight. Then-CEO Changpeng Zhao pleaded guilty to a felony charge, served four months in prison, and received a pardon from Trump in 2025.

Binance.US is also weighing expansion into adjacent sectors such as prediction markets as it seeks to broaden its U.S. product offering. The company did not immediately respond to requests for comment on the reported funding round, and terms remain subject to change as discussions continue.