Cryptocurrency exchange Binance US is eyeing an initial public offering (IPO), Binance's CEO Changpeng Zhao said at the REDeFiNE Tomorrow 2021 event. However, Zhao noted the IPO route is "not 100% fixed yet" as the cryptocurrency market is currently facing heavy regulations.
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Meanwhile, Binance is in the mindset of shifting from a tech startup to a financial service, he added. Currently, Binance US is setting up structures to "make it easier for an IPO to happen," the Binance CEO said. Binance US's CEO, Brian Brooks, first hinted about the IPO at the beginning of July. Brooks said the exchange eventually could go public, possibly "in the next four years."
Zhao himself many times denied rumors of a possible IPO for Binance on several occasions. In March, he argued that an IPO was not included in the exchange's plans as it had no financial problems. However, over the past few weeks, Binance has come under scrutiny by regulators over its global operations.
According to the Financial Times, several hedge funds, including ARK36 and Tyr Capital, have already left Binance in response to the accelerating regulatory pressure.
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