Crypto exchange Binance.US valued at $4.5 billion in first external funding round

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Crypto exchange Binance.US valued at $4.5 billion in first external funding round

Crypto exchange Binance.US has issued a statement on Wednesday saying that the crypto broker had raised more than a whacking $200 million at its first external fund-raising campaign, valuing the US arm of the world’s largest crypto exchange in terms of daily trading volume at around $4.5 billion.

Having rolled out back in the 2019s, the US wing of Binance, the Cayman Island-based crypto exchange, has turned out to be a potential catalyzer to crypto enthusiasm in the United States despite repeated alarming bells from the Central Bank.

Nevertheless, Binance.US and Binance have a binding licensing accord, though, Binance.US operates as a separate legal entity in the United States. According to Binance.US, a swathe of heavy-weight venture capitalist firms ranging from RRE Ventures to Original Capital to Foundation Capital have been among the investors who took part in the crypto exchange’s first ever external fund-raising campaign.

Binance.US raises $200 million at its first external fund-raising campaign

Binance.US was quoted saying in the statement that it would more likely to invest the yields of the latest fundraising campaign into its trading platform, while it also would look to develop new services and products.

In tandem, latest statement from Binance.US came forth as Binance has reportedly been vying to vent out a way to deepen its tie-up with the UAE as the Mideast’s most preferred financial hubspot appeared to be trying to decorate itself as the world’s one of the most prominent digital asset hubs.

The crypto industry as well as DeFi (Decentralized Financing) continue to face steep scrutiny from Central Bank regulators across the globe.