Binance.US seeks to raise $50M more at $4.5B valuation – CoinDesk

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  • After its $200M fundraise in April, Binance.US, the American arm of cryptocurrency exchange Binance, is exploring raising an additional $50M at a $4.5B valuation, people familiar with the matter told CoinDesk on Tuesday.
  • The fundraise, which would represent Bianance.US’ seed round, will target “strategic partners,” the people told CoinDesk.
  • Binance.US CEO Brian Shroder recently said the upcoming fundraise would have the exchange “entering the crypto winter from a position of strength,” he told Protocol in an interview June 16, adding that “investors are not scared from investing in us further.”
  • The potential move comes as some of its peers take cost-cutting measures as crypto winter sets in. Coinbase Global (NASDAQ:COIN), America’s largest crypto exchange by daily trading volume, had cut its headcount by 18% “to ensure we stay healthy during this economic downturn.” By contrast, Binance recently said it’s looking to hire 2K staff.
  • Previously, (May 19) Binance.US hired ex-Uber lawyer as legal head.

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