Binance.US, the world’s largest crypto exchange, recently revealed plans to raise $100 million in funding, raising investor concerns.
In light of recent developments involving Binance and the discrepancy of legal standards, regulators in some countries have issued statements. As a result, potential investors are correct to be skeptical of the company’s plans, leading to more regulatory action.
An attempt to collect this sum has previously failed. Binance.US was already in the early stages of an IPO, according to numerous news outlets. The exchange’s management actively courted SoftBank and GreatPoint Ventures. However, these firms declined to participate in the crypto exchange as investors.
Perhaps this was one of the reasons for the former CEO of Binance’s resignation.
Brian Brooks of the United States, who had only been in this position for three months.
One can speculate as to why the exchange failed to attract venture capitalists at one point. But one thing is certain: despite investor skepticism over regulatory worries, Binance is sticking to its original intentions.
Binance.US made it apparent from the start that it was founded as a separate entity from Binance, with Changpeng Zhao “CZ” owning 90% of the company. Naturally, this attracts the attention of authorities as well as potential investors’ skepticism.
But don’t lose hope that Binance, a seasoned crypto market participant, will emerge victorious from this predicament.