Binance.US Valued at $4.5B, Closes $200M Seed Round

Investors in the funding round include VanEck, Circle Ventures, RRE Ventures and Foundation Capital

article-image

Source: Shutterstock

share

key takeaways

  • Binance.US is looking into potential merger and acquisition opportunities, chief executive said
  • With the capital, the company also plans to double the staff for its product and tech department

Binance.US, the United States partner company of cryptocurrency exchange Binance, secured $200 million in seed financing. The firm notched a $4.5 billion pre-money valuation, according to a Wednesday announcement.

“On the build side, we already have 100 people in our product and tech department. We will double that by the end of the year with this fundraising round,” Brian Shroder, chief executive of Binance.US, told Blockworks. 

Investors in the round include VanEck, Circle Ventures, RRE Ventures, Foundation Capital, Original Capital, Gaingels and Gold House.

Binance.US, which launched in 2019, is a separate legal entity from crypto exchange Binance.com. However, the company can still access its technology through a licensing agreement with its partner company.

Binance banned US-based customers in September 2019 due to regulatory constraints. Via a partnership with BAM Trading Services, the company later announced the creation of Binance.US.

Users in approved states had to complete more stringent know your customer (KYC) rules to access Binance.US than Binance previously required. This includes uploading a photo of a valid ID and providing social security numbers.

Binance.US has expanded its services to 45 states and 8 territories since 2019 — most recently in Connecticut and Louisiana.

Per Shroder, the company is also “scaling up [its] corporate development department” and “evaluating potential mergers and acquisitions opportunities.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (8).png

Research

Meta-aggregators like Titan and Kamino Swap improve price execution for users, making the Solana swapping landscape more competitive. Jupiter has incorporated meta-aggregation features into its latest routing engine to keep users on its front end (own the user, own the flow). At large, teams are treating swaps as a commoditized complement, offering incredibly cheap or free swaps to own the end-user and increase demand for high-margin product offerings (multi-product DeFi). On another note, the divergence in the concentration of aggregator volume between DEXs suggests increased specialization at the DEX layer by asset type.

article-image

Investors moved to safe assets like the US dollar and gold, but bonds faltered

article-image

The Amex offers up to 4% bitcoin back, but the deal is a bit ironic considering crypto’s goals

article-image

Short answer: Subnets are now cheaper to bootstrap than a Celestia rollup

article-image

Few things are more cypherpunk than keeping keys in your brain wallet

article-image

Many community banks and credit unions feel like they missed the fintech craze — and they don’t want to miss stablecoins

article-image

BlackRock COO Rob Goldstein noted that the firm had been looking into crypto since 2017