As the global crypto exchange Binance continues to fight regulatory scrutiny, it hasn’t stopped the firm from making bold moves ahead. Changpeng Zhao, the founder, and CEO of crypto exchange Binance, recently said that its U.S. arm could be heading for a public listing in the coming three years. Binance CEO is confident that the crypto exchange will sail through all the incumbent regulatory hurdles.
Binance U.S. is all set to close large private funding in the next two months.
Binance CEO Zhao also disclosed that Binance US is all set to close large private funding just in the next two months. This move will reduce the control of the CEO of the board. Binance has generated a profit of $800 million to $1 billion for the year 2020. “Binance.US is just going to do what Coinbase did,” Zhao said. The announcement just a few weeks after Binance US CEO Brian Brooks quit the company just in three months of joining. Brooks had cited “differences over the strategic direction” as the reason to quit.
Crypto companies follow Coinbase’s lead in going public.
With Coinbase going for an IPO earlier this year in April, other crypto firms have gained confidence for making their way to the Wall Street. Several crypto trading platforms have recently shown interest in a public listing in this trending IPO market. Over the next 2-3 years, a number of crypto trading platforms like Circle, Kraken, Blockchain.com, and Binance are looking for a Wall Street listing. Amid all the regulatory backlash, Binance has been managed to keep the momentum going. The crypto exchange giant is also keen on expanding its footprint in the crypto-friendly nation of Singapore.