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Binance Founder Says It’s U.S Crypto Exchange Arm Targets IPO In Next 3 Years

Changpeng Zhao, the founder and CEO of global cryptocurrency exchange Binance, told The Information on Wednesday that the company’s US arm might go public in the next three years.

 

According to the report, Zhao stated, “Binance.US will simply do what Coinbase did.”

 

Binance.US is set to close on a large private fundraising round in the next two months that should reduce his control of the board, said Zhao, who is chair of Binance.US, in an extended Zoom interview. The U.S. exchange could have an initial public offering in the next three years, he said.

Binance.US is also planning a significant private fundraising round in the next two months, which will limit Zhao’s control of the board, Zhao stated in a Zoom interview with The Information.

According to Zhao, Binance made between $800 million and $1 billion in profit last year.

 

Brian Brooks, the CEO of the Bitcoin exchange’s US subsidiary, quit last month, only three months after starting the job.

 

Regulators around the world have been putting pressure on the exchange due to worries about the use of cryptocurrency in money laundering and the hazards it poses to consumers.