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Binance US to Go Public Within Three Years

It is likely that the U.S. arm of the world’s largest cryptocurrency exchange Binance is going public within three years.

In an interview with The Information this week, Binance CEO Changpeng Zhao revealed that his exchange “is just going to do what Coinbase did,” hinting at an initial public offering (IPO).

Coinbase went public on Nasdaq via direct listing in April this year under the ticker COIN. Although stock price plummeted after its listing, it has been trading relatively stable, yet under its opening price. Coinbase recently announced its intentions of wanting to become the “Amazon” of digital assets and list as many cryptocurrencies as possible.

In the interview, Zhao further said that Binance US will close a large private round of fundraising sometime in the next months. The CEO also revealed that the exchange brought in between $800 million to $1 billion in profit last year.

The announced plans come after Binance has bounced back from some regulatory headwinds it faced in the past months across the globe. The exchange was recently given the green light by the U.K.’s Financial Conduct Authority (FCA) after it complied with their requirements.

Binance is putting all efforts on becoming a compliant company.

Just few weeks ago, the exchange announced it brought in former IRS investigator Greg Monahan to lead its global anti money-laundering program. Earlier this year, the exchange hired former U.S. senator and ambassador to China, Maxwell Baucus, as a government relations adviser. A month later the former acting comptroller of the currency of the United States Office of the Comptroller of the Currency (OCC), Brian Brooks, was appointed new Chief Executive Officer of Binance U.S.

The post Binance US to Go Public Within Three Years appeared first on iGaming.

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Author: Peter Siu