The US arm of the biggest exchange in the crypto space, Binance, plans to go public in three years.
The CEO and founder of the exchange Changpeng Zhao said during a zoom meeting with The Information on Wednesday, September 1, that its affiliate in the U.S. Binance.US might have an initial public offering in 2024.
Zhao also disclosed that Binance.US will be closing large private funding round in two months to reduce the control and influence of the global exchange’s board.
Binance is following the footstep of Coinbase, an American exchange platform that went public on the Nasdaq earlier this year. “Binance.US is just going to do what Coinbase did,” Zhao said.
In the last 24 hours, bitcoin is up by 2.35%, with a current price of $48,522.20 as at the time of writing this. Within 24 hours, bitcoin dropped to $46,542.02 low and $48,577.64 high. The trading volume of bitcoin in the last 24 hours is $ 1.38B. The current market capitalization of bitcoin is $912.35B. Currently, $18.80M bitcoins is in circulation.
Successfully going public will be a plus for Binance, which will lead to a level of acceptance from American regulators and grant many companies the opportunities to invest in crypto with less risk.
Binance has come under fire from global regulators over the legality of their operations in their countries, with the Monetary Authority of Singapore (MAS) recently publishing Binance’s website on its Investor Alert List.
According to MAS, “The Investor Alert List provides a list of unregulated persons who may have been wrongly perceived as being licensed or regulated by MAS.”