US arm of cryptocurrency exchange Binance targeting IPO in next 3 years

In a statement the CEO of global cryptocurrency exchange Binance said, its U.S. arm could potentially see an initial public offering in the next three years.

“Binance.US is just going to do what Coinbase did,” said Zhao.

He went on to add, Binance.US is set to close on a large private funding round in the next two months that should reduce his control of the board.

In 2020, Binance generated $800 million to $1 billion in profit said Zhao.

Earlier this year in August, the CEO of Binance’s U.S. arm, Brian Brooks, resigned just three months after taking up the role.

Binance has come under regulatory scrutiny regulators across the globe following concerns over the use of crypto in money laundering and risks to consumers.

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