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- Binance.US
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
Strategic investment
Amount undisclosed · Nov 2022
Cumulative funding Binance.US raised
$200M
across 2 funding rounds
Key investors in Binance.US
Gaingels
Foundation Capital
RRE Ventures
Northern Light Venture Capital
Karman Ventures
Circle Ventures
About Binance.US
Binance.US is a privately held United States digital-asset marketplace launched in 2019 and operated by BAM Trading Services. The Miami-based platform provides spot trading, crypto conversion, staking, deposits and withdrawals through web and mobile applications built for United States customers. It supports more than 150 digital assets and serves beginners, active retail traders and institutional market participants. Binance.US uses matching-engine and wallet technology licensed from Binance, but its own support materials identify it as a separate and independent company from the international Binance exchange. The company earns commission and spread-related revenue from trading and other account services, while selected Bitcoin trading pairs are offered without transaction fees. Its compliance program includes federal money-services-business registration and applicable state money-transmitter licensing. The profile refers specifically to the operating exchange at binance.us, not Binance's international platform or investment arm.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2C & B2B
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. Read the announcement ↗
The $200M round included Northern Light Venture Capital, RRE Ventures, Circle Ventures, Gold House, Standard Crypto and 6 other investors.
Binance.US valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2022 | Seed | $4.7B |
Binance.US Funding History
Binance.US has raised a total of $200M across 2 funding rounds.
Binance.US's first fundraising round was a $200M seed round in April 2022. The most recent completed round was a strategic investment round in November 2022.
Binance.US funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2022 | Strategic investment | NoLimit Holdings | - | - | NoLimit Holdings disclosed Binance.US as a Fund I portfolio investment in its November 2022 review. The same release says Fund I launched in July 2022 and describes capital deployed during its first four months, so NoLimit's investment occurred after the exchange's separately announced April seed financing. Binance.US operates a digital-asset exchange for United States retail and institutional customers, providing trading, conversion, staking, custody-linked account functions and blockchain withdrawals. Its revenue model is tied principally to transaction fees, spreads and account services. November 29, 2022 is the dated portfolio disclosure; it establishes that the investment was made during Fund I's first four months after its July launch, but is not represented as the exact closing day. Binance.US is pinned to the live operating-company record for binance.us, rather than a token, international affiliate or investment vehicle. |
| Apr 2022 | Seed | Northern Light Venture Capital; RRE Ventures; Circle Ventures; Gold House; Standard Crypto; Gaingels; Original Capital; Foundation Capital; Karman Ventures; Mandeep Singh; Omar Darwazah | $200M | $4.7B | Binance.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 Gaingels, Foundation Capital, RRE Ventures, Northern Light Venture Capital, Karman Ventures and Circle Ventures.
Binance.US Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Nov 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Apr 2022 | ||
| 1 | Participant | Apr 2022 | ||
This data is available for Pro users. Sign up to see all 12 Binance.US investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Binance.US
Binance.US has acquired 1 company to date.
Last acquisition by Binance.US was on March 14th 2023. Binance.US acquired Yay for $150M.
Latest Acquisitions by Binance.US
| Description | - |
| HQ Country | - |
| HQ City | - |
| Deal Date | 14 Mar 2023 |
| Valuation | $150M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Binance.US acquisitions and their M&A valuation multiples. Start Free Trial | |
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
| Description | - |
| HQ Country | |
| HQ City | - |
| Deal Date | 25 Mar 2021 |
| Round | Series A |
| Raised | $37M |
| Investors | AP Capital Partners; Equity Management Associates; Eric Ly; Coinbase Ventures; Greybull Stewardship; Hard Yaka; ECMC; Holon Global Investments; 1843 Capital; Hashkey Exchange; Banca del Ceresio |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Binance.US investments and their VC round multiples. Start Free Trial | |
Binance.US Competitors
Binance.US competitors include listed companies like Tel Aviv Stock Exchange and Bullish, and private ones like Tempo, Sorare, Anchorage Digital and BM&F.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $181M | $94M | $4.4B | 18.7x | ||
| Private | - | - | $5B | - | ||
| Private | $150M | - | $4.3B | 28.7x | ||
| Private | $85M | - | $4.2B | 49.4x | ||
| Private | - | - | $5.4B | - | ||
| Publicly listed | $245B | ($727M) | $3.6B | 8.4x |
Binance.US Public Comps
Binance.US is still privately-owned, but its public comps include Tel Aviv Stock Exchange, Bullish, Tadawul Group, MIAX, Galaxy Digital, Hyperliquid Strategies, Dubai Financial Market, Tradegate, MCX India and ASX.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $181M | $94M | 23.9x | 18.7x | 46.0x | - | |||
| $245B | ($727M) | 0.0x | 8.4x | (4.0x) | 23.6x | |||
| $336M | $162M | 8.6x | 8.6x | 17.8x | 25.0x | |||
| $1.4B | ($36M) | 2.0x | 5.2x | (75.8x) | 10.4x | |||
| $60B | ($177M) | 0.1x | 0.2x | (48.0x) | 34.9x | |||
| $9M | - | 309.3x | 116.3x | - | - | |||
| $220M | $205M | 6.6x | 6.2x | 7.0x | 7.6x | |||
| $213M | - | 11.1x | - | - | - | |||
This data is available for Pro users. Sign up to see all Binance.US competitors and their valuation data. Start Free Trial | ||||||||
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 Miami, FL, 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 2 funding rounds. |
| What was Binance.US's last funding round? | Binance.US's last funding round was a strategic investment round in November 2022. |
| Who are Binance.US's investors? | Binance.US's investors include Northern Light Venture Capital, RRE Ventures, Circle Ventures, Gold House, Standard Crypto, NoLimit Holdings, Gaingels, Original Capital, Foundation Capital, Karman Ventures and 2 others. |
| Which companies are comparable to Binance.US? | Companies comparable to Binance.US include Tel Aviv Stock Exchange, Tempo, Sorare, Anchorage Digital, BM&F and Bullish. |
| How many companies has Binance.US acquired? | Binance.US has acquired 1 company, including Yay. |
| What was the largest acquisition by Binance.US? | The $150M acquisition of Yay in March 2023 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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