Binance.US Is Closing Funding Round With 'Top Level Investors': CEO Changpeng Zhao
Binance.US — the United States crypto trading entity of the world's top cryptocurrency exchange Binance — is purportedly about to close a funding round with world-class investors.
What Happened: According to a Thursday Bloomberg report, Binance CEO Changpeng Zhao said its United States-based subsidiary is seeing "significant interest from top-level investors" that "expect they will close a round shortly."
He claims that the platform "will have a diverse cap table with reputable investors and an independent board with proper governance, including the addition of new outside investors and independent members."
Brian Brooks, former Binance.US CEO that recently resigned, was reportedly looking to raise at least $100 million from investors.
Read also: Coinbase Prepares For Crypto Winter With B War Chest Of Cash Reserves
Binance.US' bigger brother Binance Global recently found itself in trouble as multiple regulators around the world are limiting its activities.
Britain’s Financial Conduct Authority ordered the cryptocurrency exchange to stop its activities in the United Kingdom, while the German Federal Financial Supervisory Authority (BaFin) suggested that the exchange may have broken the law with its tokenized stocks initiative.
Why It Matters: International regulators tasked with preventing money laundering are also increasingly scrutinizing the exchange.
In an attempt to comply with regulations, the exchange announced earlier today that it will impose know-your-client checks on its whole user base.
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