Binance US is on track for an initial public offering (IPO) in two to three years, with million dollars in funding set to be announced in April, according to a report by Forkcast on Monday.
- Brian Schroder, CEO of Binance US, confirmed the plans for the IPO, talking at the Binance Blockchain Week on Monday.
- Changpeng Zhao, Founder and Chief of Binance, popularly known as ‘CZ,’ had first disclosed the fundraising in November last year.
- Schroder stated that in the fourth quarter of 2021, Binance US posted more profits than Uber did it began its operations.
- Binance US is neither a subsidiary nor an affiliate of Binance, the largest crypto exchange in terms of trading volume.
- Binance US will be allowed to operate in all jurisdictions in the United States by the close of 2022. It is currently applying for licenses in New York, Idaho, Texas, Vermont, and Hawaii.
In February, the US Securities and Exchange Commission began a probe into the relationship between Binance US and two trading firms linked to CZ. BNB up +1.53%