Binance.US is now worth just a fraction of what it was
Binance.US is seeking up to $100 million in private funding at a target valuation of $1 billion. Its 2022 round valued the company at $4.5 billion pre-money and raised over $200 million. In three years, its valuation has shrunk by nearly 80%. It lost a large share of its market after the 2023 settlement, and now it needs to restore state money-transmitter licenses and secure external market-making liquidity to win customers back.
A $100 million raise won’t be enough to move the market—the market caps are in different leagues, so in the short term, it can only spark a sentiment-driven burst. What’s really weighing on the price is the collapse of the U.S. business. Even good news could easily turn into selling pressure. If the rally fails to break above the previous daily high, the price will likely retest the lower edge of the range and build momentum. The trend still follows BTC: if BTC can’t hold key moving averages, a BNB rebound is a chance to reduce your position.
Are you taking profits in batches and locking them in here, or betting that the funding will exceed expectations and continuing to hold?
$BNB $BTC $ETH
Binance.US is seeking up to $100 million in private funding at a target valuation of $1 billion. Its 2022 round valued the company at $4.5 billion pre-money and raised over $200 million. In three years, its valuation has shrunk by nearly 80%. It lost a large share of its market after the 2023 settlement, and now it needs to restore state money-transmitter licenses and secure external market-making liquidity to win customers back.
A $100 million raise won’t be enough to move the market—the market caps are in different leagues, so in the short term, it can only spark a sentiment-driven burst. What’s really weighing on the price is the collapse of the U.S. business. Even good news could easily turn into selling pressure. If the rally fails to break above the previous daily high, the price will likely retest the lower edge of the range and build momentum. The trend still follows BTC: if BTC can’t hold key moving averages, a BNB rebound is a chance to reduce your position.
Are you taking profits in batches and locking them in here, or betting that the funding will exceed expectations and continuing to hold?
$BNB $BTC $ETH