December 4, 2021

Binance IPO valuation could reach $ 300 billion

Binance IPO valuation could reach $ 300 billion

Binance is planning an initial public offering (IPO). Binance's management estimates the exchange's value at $ 300 billion, which is three times higher than the estimate of its closest competitor, Coinbase.

It is not yet known where Binance shares will be traded. The fastest growing crypto exchange in the world has no head office or licenses in the countries where it operates.

In the fall, CEO Changpeng Zhao spoke about his plansconducting a public offering in the United States in the next three years. A major round of private fundraising for Binance.US is planned for the fall, despite the company's fairly high annual profits. The CEO noted that he is ready to step down as the company seeks to become a regulated financial institution.

Binance, founded just four years ago,became an exchange giant, the cryptocurrency equivalent of the London, New York and Hong Kong stock exchanges. According to CryptoCompare, Binance now processes $ 76 billion worth of cryptocurrency transactions daily, more than all of its largest competitors.

Subscribe to ForkNews on Telegram to keep abreast of news from the world of cryptocurrencies

Facebook Notice for EU! You need to login to view and post FB Comments!