Binance CEO revealed that the company’s U.S. branch plans to go public via an IPO within the next 3 years.
September 2, 2021, | AtoZ Markets – The US division of cryptocurrency exchange Binance intends to conduct a public offering (IPO) on the US stock market in the next three years. The CEO of the company, Changpeng Zhao (CZ), said in an interview with The Information:
“Binance.US will do the same as Coinbase.”
Zhao has said that the unit will complete a “major round of private financing” over the next two months. The agreement will reduce the control of the head of the company over the board of directors.
Zhao has highlighted that the exact moment of the placement will depend on the market and the growth of the Binance.US business:
“If the business is able to grow steadily over the next three years, then this time will be enough for an IPO. If we enter a bear market that lasts over time, I don’t know, three or four years, it might take a little more“.
Zhao first spoke about Binance.US plans to go public in June. He later said that the division is currently focused on business development and growth. Zhao said in March that major platform Binance has no plans to hold an initial public offering.
According to this, the company has no financial problems, so it is not considering this possibility. However, several global regulators have set their sights on Binance’s activities over the summer.
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