Cryptocurrency exchange Binance.US has raised $200 million in a seed funding round, bringing the company's valuation at $4.5 billion.
Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world
The company said in a blog post investors such as VanEck and Circle Ventures participated among others. Binance.US said it plans to use the proceeds to further enhance its trading platform, develop and launch a suite of new products and services, and share the exchange's brand. Brian Shroder, Chief Executive Officer of Binance.US, said:
"Importantly, we are grateful for the support from a leading group of investors, including firms that prioritize DEI initiatives which are core to Binance.US's values."
Launched in 2019, Binance.US currently supports 85+ cryptocurrencies and 190+ trading pairs. The exchange is available in 45 US states, excluding Hawaii, Idaho, New York, Texas and Vermont. In February, reports said the US Securities and Exchange Commission (SEC) is probing the relationship between Binance.US and two trading firms tied to Binance's founder Changpeng Zhao. However, the SEC made no allegations against the exchange of wrongdoing since then.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange