The proposed valuation marks a significant retreat from the $4.5 billion pre-money figure the exchange commanded during its 2022 financing round. To stay competitive, the platform is weighing a move into prediction markets and the restoration of state-level money transmitter licenses. Executives are also exploring ways to source liquidity from outside providers, potentially including the global Binance entity, to improve trading depth for U.S. customers.
Despite its efforts to secure new backing, the company faced a rejection from World Liberty Financial, which opted against participating in the round. This decision persists despite existing ties between the two firms, notably Binance’s role as a major holder of World Liberty’s USD1 stablecoin. Internally, CEO Stephen Gregory has pushed for a strategy centered on regaining retail traders through aggressive fee structures, including zero maker fees on hundreds of spot pairs. These initiatives follow a period of intense regulatory scrutiny that saw the global Binance brand reach a $4.3 billion settlement with the U.S. Justice Department in 2023.
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