Binance.US Seeks $100 Million at a $1 Billion Valuation, Down 78% From 2022, as Trump's World Liberty Passes

Published October 15, 2026, 18:45 UTC. Based on Bloomberg Law's reporting, coverage from news.bitcoin.com, a Coinotag breaking-news note, Odaily flash reporting, and Cointelegraph's April 2022 seed-round report.

Binance.US is seeking to raise as much as $100 million in a private funding round at a targeted valuation of about $1 billion, Bloomberg Law reported on October 15, 2026, citing a person familiar with the confidential discussions. The Miami-based exchange is pitching the round as it tries to expand its U.S. business amid intensifying competition for digital-asset customers, according to the report.

The $100 million raise

The reported round would be the exchange's second outside funding, after the April 2022 seed round that valued it at $4.5 billion. The reporters, Ben Weiss, Olga Kharif and Muyao Shen, said the size of the round and the $1 billion valuation target could still change, and that the people speaking about it asked not to be identified because the discussions are confidential. Binance.US has not publicly confirmed the fundraising. The raise is aimed at beefing up the exchange's U.S. operation at a time when competition for American crypto customers keeps intensifying, according to the report.

World Liberty saw the pitch and passed

World Liberty Financial, the crypto venture co-founded by President Donald Trump, his sons and business partners, was among those made aware of the fundraising, according to Bloomberg Law. A separate person familiar with the matter told Bloomberg Law that the Trump-family venture is not participating. A Coinotag breaking-news note on October 15 also reported that World Liberty was shown the deal but chose not to invest.

The non-participation is notable because of the unusually close ties between the two sides. An Abu Dhabi-backed firm used World Liberty's USD1 stablecoin for a $2 billion investment in Binance, and Changpeng Zhao, Binance's founder, was pardoned by Trump in October 2025 after pleading guilty to federal anti-money-laundering charges in 2023 and serving four months in prison, according to prior reporting.

A $1 billion price tag, down from $4.5 billion

In April 2022, Binance.US raised more than $200 million in its first external round at a $4.5 billion pre-money valuation, with investors including RRE Ventures, Foundation Capital, Original Capital, VanEck and Circle Ventures, Cointelegraph reported at the time. A $1 billion valuation now would sit roughly 78% below that mark, per Odaily's math on the reported figures.

The exchange's fortunes changed dramatically in June 2023, when the Securities and Exchange Commission sued Binance-related entities and Zhao. Banking relationships deteriorated, dollar services were interrupted, and trading activity contracted. The SEC subsequently dismissed its lawsuit with prejudice in May 2025. Binance.US restored dollar deposits and withdrawals through automated clearing house transfers in February 2025, beginning a gradual return to conventional banking services, news.bitcoin.com reported.

What the money would buy

Under CEO Stephen Gregory, appointed in March 2026, the exchange has pursued aggressive fee reductions, including zero maker fees and taker fees as low as 0.02%, according to news.bitcoin.com. Management has discussed expanding across all 50 states, pursuing derivatives licenses, and exploring perpetual futures, prediction markets and additional financial services. Competition remains fierce, with Coinbase and Kraken already commanding established American customer bases.

For Binance.US, the proposed capital injection offers an opportunity to rebuild liquidity and distribution. The reported valuation tells the other side of the story: four years after commanding a multibillion-dollar price tag, the exchange is courting investors at roughly a quarter of its former valuation, news.bitcoin.com noted. Bloomberg's reporting has not been publicly confirmed by Binance.US, and the story is developing.

This article is news reporting and is not investment advice.

Sources

• Bloomberg Law, "Binance.US Seeks $100 Million to Expand Its Crypto Business", October 15, 2026, primary source for the up-to-$100 million raise, the roughly $1 billion valuation target, the confidential sourcing, and World Liberty Financial being shown the deal but not participating
• news.bitcoin.com, "Binance US Chases $100 Million at a Fraction of Past Valuation: Bloomberg", October 15, 2026, secondary source for the 2022 round comparison, the SEC lawsuit timeline, the February 2025 dollar ACH restoration, CEO Stephen Gregory's appointment and fee cuts, and the expansion plans
• Coinotag, "Binance US seeks $100M at $1B valuation, Trump's World Liberty was shown deal but chose not to invest", October 15, 2026, secondary source for the World Liberty Financial angle
• Odaily, 24-hour flash news, October 15, 2026, secondary source for the roughly 78% decline from the 2022 valuation framing
• Cointelegraph, "Binance.US completes $200M seed round to hit $4.5B valuation", April 2022, secondary source for the 2022 seed-round investors and valuation