Binance.US Valuation, Funding & Investors

Binance.US is valued at $4.7B as of April 2022.

Last Binance.US valuation

$4.7B

Seed · Apr 2022

Last Binance.US funding round

$200M

Seed · Apr 2022

Cumulative funding Binance.US raised

$200M

across 1 funding round

Key investors in Binance.US

  • Bossa Invest
  • Gaingels
  • Foundation Capital
  • RRE Ventures
  • Northern Light Venture Capital
  • Karman Ventures

Binance.US Overview

About Binance.US

Binance.US is a San Francisco-headquartered cryptocurrency exchange regulated by FinCEN. Established in 2019, the platform facilitates trading of over 150 digital assets for U.S. residents, emphasizing compliance with federal and state money transmission laws.


Founded

2019

HQ

United StatesSan Francisco, CA

Website

binance.us

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Valuation

$4.7B (Apr 2022)

Binance.US Valuation

Binance.US is currently valued at $4.7B, based on its seed round in April 2022.

The $200M round included Northern Light Venture Capital, RRE Ventures, Circle Ventures, Gold House, Standard Crypto and 7 other investors.

Binance.US valuation by funding round

Binance.US valuation by funding round
DateStageValuation
Apr 2022Seed$4.7B

Binance.US Funding History

Binance.US has raised a total of $200M across 1 funding round.

Binance.US funding rounds

Binance.US funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2022SeedNorthern Light Venture Capital; RRE Ventures; Circle Ventures; Gold House; Standard Crypto; Gaingels; Original Capital; Foundation Capital; Karman Ventures; Mandeep Singh; Bossa Invest; Omar Darwazah$200M$4.7BBinance.US, the U.S.-regulated subsidiary of Binance founded in 2019, announced its first-ever external funding round in April 2022, raising over $200 million at a $4.5 billion pre-money valuation. The company received backing from a diverse investor group including RRE Ventures, Foundation Capital, Original Capital, VanEck, and Circle Ventures, alongside diversity-focused firms Gaingels and Gold House. Binance.US operates as one of the largest digital asset exchanges in the United States, with a 24-hour trading volume of $306 million at the time of the announcement and the lowest transaction fees in the industry at 0.1%, significantly undercutting competitors like Coinbase Pro. CEO Brian Shroder stated the capital would be deployed to expand beyond the company's core spot trading platform into multiple products and services, with plans to pursue an initial public offering within two to three years. The company operated as a profitable business at the time of the round and held the ability to serve customers across 45 U.S. states with plans for nationwide expansion.

Who has invested in Binance.US?

12 investors have backed Binance.US across its funding rounds, including Bossa Invest, Gaingels, Foundation Capital, RRE Ventures, Northern Light Venture Capital and Karman Ventures.


Binance.US Investors

Investors in Binance.US by funding rounds participated
InvestorHQRoundsRoleFirst check
Northern Light Venture CapitalChinaBeijing1ParticipantApr 2022
RRE VenturesUnited StatesNew York City, NY1ParticipantApr 2022
Circle VenturesUnited StatesUnited States1ParticipantApr 2022
Gold HouseUnited StatesLos Angeles, CA1ParticipantApr 2022
Standard CryptoUnited StatesSan Francisco, CA1ParticipantApr 2022
GaingelsUnited StatesNew York City, NY1ParticipantApr 2022
Original CapitalUnited StatesSan Francisco, CA1ParticipantApr 2022
Foundation CapitalUnited StatesSan Francisco, CA1ParticipantApr 2022
Karman VenturesUnited StatesAustin, TX1ParticipantApr 2022
Mandeep SinghUnited KingdomLondon1ParticipantApr 2022

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Binance.US

Binance.US has acquired 2 companies to date.

Last acquisition by Binance.US was on March 14th 2023. Binance.US acquired Yay for $150M.


Latest Acquisitions by Binance.US

Yay
Voyager Digital
Description
-
Voyager Digital Ltd through its subsidiary operates as a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The company offers investors execution, data, wallet, and custody services through its institutional-grade open architecture platform.
HQ Country-United States
HQ City
-
Wilmington, DE
Deal Date14 Mar 202319 Dec 2022
Valuation$150M$1B
EV/Revenue
EV/EBITDA

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Investments by Binance.US

Binance.US has invested in 1 company to date.

Latest investment by Binance.US was on March 25th 2021. Binance.US invested in Custodia Bank in their $37M Series A round.


Latest Investments by Binance.US

Custodia Bank
Description
-
HQ CountryUnited States
HQ City
-
Deal Date25 Mar 2021
RoundSeries A
Raised$37M
InvestorsAP Capital Partners; Equity Management Associates; Eric Ly; Coinbase Ventures; Greybull Stewardship; Hard Yaka; ECMC; Holon Global Investments; 1843 Capital; Hashkey Exchange; Banca del Ceresio
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Binance.US Competitors

Binance.US competitors include listed companies like Bullish and Sharplink, and private ones like BlockFi, Tempo, Sorare and Anchorage Digital.

Public and private companies comparable to Binance.US
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BlockFiUnited StatesJersey City, NJPrivate$50M-$4.5B90.0x
TempoUnited StatesSan Francisco, CAPrivate--$5B-
SorareFranceParisPrivate$150M-$4.3B28.7x
Anchorage DigitalUnited StatesSan Francisco, CAPrivate$85M-$4.2B49.4x
BullishUnited StatesUnited StatesPublicly listed$245B($727M)$5.3B13.5x
SharplinkUnited StatesUnited StatesPublicly listed$28M($734M)$1.8B39.9x

Binance.US Public Comps

Binance.US is still privately-owned, but its public comps include Galaxy Digital, Bullish, Hyperliquid Strategies, Sharplink, Securitize, OSL Group, HashKey Holdings, BitGo Holdings, Indokripto Koin Semesta and BitMine.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Galaxy Digital$60B($177M)0.1x0.2x(43.3x)(182.6x)
Bullish$245B($727M)0.0x13.5x(6.3x)38.2x
Hyperliquid Strategies$9M-308.0x162.2x--
Sharplink$28M($734M)61.9x39.9x(2.4x)141.1x
Securitize$62M($34M)25.5x22.2x(46.0x)(37910.8x)
OSL Group$62M($48M)16.6x11.3x(21.7x)(23.2x)
HashKey Holdings$92M($109M)6.4x-(5.4x)-
BitGo Holdings$16B($9M)0.1x5.5x(125.1x)125.4x

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Common questions about Binance.US

When was Binance.US founded?Binance.US was founded in 2019.
Where is Binance.US headquartered?Binance.US is headquartered in San Francisco, CA, United States.
Is Binance.US publicly listed?No, Binance.US is a private, VC-backed company.
What is Binance.US's valuation?Binance.US was last valued at $4.7B in its seed round in April 2022.
How much funding has Binance.US raised?Binance.US has raised $200M across 1 funding round.
What was Binance.US's last funding round?Binance.US's last funding round was a $200M seed round in April 2022.
Who are Binance.US's investors?Binance.US's investors include Northern Light Venture Capital, RRE Ventures, Circle Ventures, Gold House, Standard Crypto, Gaingels, Original Capital, Foundation Capital, Karman Ventures, Mandeep Singh and 2 others.
Which companies are comparable to Binance.US?Companies comparable to Binance.US include BlockFi, Tempo, Sorare, Anchorage Digital, Bullish and Sharplink.
How many companies has Binance.US acquired?Binance.US has acquired 2 companies, including Yay and Voyager Digital.
What was the largest acquisition by Binance.US?The $1B acquisition of Voyager Digital in December 2022 is the largest acquisition Binance.US has made to date.
How many companies has Binance.US invested in?Binance.US has invested in 1 company, including Custodia Bank.
What was Binance.US's last investment?In March 2021, Binance.US invested in Custodia Bank's $37M Series A alongside AP Capital Partners, Equity Management Associates, Eric Ly and 8 other investors.

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