Binance.US is reportedly raising up to $100 million in a private funding round as the cryptocurrency exchange works to rebuild its business in the United States. The company is seeking a valuation of roughly $1 billion, a steep markdown from its previous funding benchmark.

According to a Bloomberg report published on October 15, 2026, the exchange has been discussing the potential investment with prospective backers. The talks remain ongoing, however, and the final terms of any deal could still change.

Valuation Down Nearly 78% From 2022

The contemplated $1 billion valuation would mark a substantial decline from the $4.5 billion pre-money valuation Binance.US commanded in 2022, when the exchange raised more than $200 million from investors. A pre-money valuation measures a company's worth before new capital is added, meaning the proposed round would price the exchange at less than a quarter of its earlier benchmark. The reduction underscores the difficulties the company has faced in the wake of regulatory disputes and an eroding share of the U.S. market. Even so, Binance.US is pursuing fresh capital to bolster its competitive standing in the country.

The exchange launched in 2019 and operates independently from the global Binance platform, although Binance co-founder Changpeng Zhao retains significant ownership stakes in both businesses. Binance.US suffered major disruptions after regulatory enforcement actions involving Binance in 2023, which weakened its competitive position and complicated its ability to maintain normal banking and trading operations. Those 2023 actions centered on the global platform and culminated in a multi-billion-dollar settlement with U.S. authorities, with Changpeng Zhao pleading guilty to federal charges and stepping down as Binance's chief executive.

Recovery Plans Focus on Licenses, Liquidity and New Markets

To support its recovery and attract new customers, Binance.US is weighing a range of initiatives, including restoring state money-transmitter licenses, improving trading liquidity, and potentially entering prediction markets. Money-transmitter licenses are granted state by state and govern where a platform can lawfully accept and transmit customer funds, making their restoration central to widening the footprint the exchange can serve. Prediction markets — venues where users trade contracts tied to the outcomes of real-world events — represent a product area the company is evaluating as it looks to broaden its offerings. The company has also discussed sourcing liquidity from outside providers, including the global Binance platform, though no arrangement has been finalized.

Stephen Gregory, who took over as Binance.US CEO earlier in 2026, faces the task of rebuilding customer confidence as exchanges compete for market share through lower fees, expanded services, and improved trading infrastructure. Progress on the licensing, liquidity, and product fronts will offer the clearest near-term gauge of whether the turnaround is taking hold.

Trump-Linked Crypto Venture Not Participating

Bloomberg also reported that World Liberty Financial, a cryptocurrency venture co-founded by President Donald Trump and others, was informed about the fundraising discussions. A person familiar with the situation said the venture is not participating in the proposed investment. Representatives of both companies declined to comment.

The potential financing comes as cryptocurrency businesses pursue opportunities within the evolving U.S. regulatory environment. For Binance.US, securing fresh investment could support its expansion efforts while testing investor confidence in its long-term recovery. Whether the talks yield a deal near the targeted valuation, and whether the license-restoration and liquidity initiatives move forward, will shape the next phase of the exchange's U.S. rebuild.