Binance.US in talks to raise $100 million as it tries to regain ground in the US

Binance.US is in advanced talks to raise $100 million in a funding round that values the exchange at $1 billion. The move comes just over a year after the global parent reached a settlement with US authorities over fines exceeding $4 billion, and after founder Changpeng Zhao stepped down from the helm.

Since the regulatory settlement, the US unit has seen its market share shrink while Coinbase and Kraken have widened their lead. The fresh capital would allow it to bolster its compliance and marketing teams, as well as fund the infrastructure needed to operate under ongoing oversight.

Approval from regulators for the raise still depends on proof of robust controls. Institutional investors are watching closely to see whether the brand can turn its financial breathing room into a sustainable recovery in trading volume.