(Reuters) – International cryptocurrency change Binance’s founder and chief govt officer Changpeng Zhao stated that its U.S. arm might have an preliminary public providing within the subsequent three years, The Data reported bit.ly/3jBIOAT on Wednesday.
“Binance.US is simply going to do what Coinbase did,” Zhao stated, in keeping with the report.
Binance.US can also be set to shut on a big personal fundraising spherical within the subsequent two months that ought to cut back his management of the board, Zhao stated in an Zoom interview with The Data.
Binance generated $800 million to $1 billion in revenue final yr, in keeping with Zhao, the report added.
Final month, Brian Brooks, chief govt of the U.S. arm of the cryptocurrency change resigned simply three months after taking on the function.
The change has come beneath stress from regulators the world over as a consequence of considerations over the usage of crypto in cash laundering and dangers to shoppers.
Reporting by Sabahatjahan Contractor in Bengaluru. Modifying by Gerry Doyle