Binance Founder Changpeng Zhao Says His U.S. Cryptocurrency Exchange Arms Aiming For IPO In Three Years – The Information

Changpeng Zhao, CEO of Binance, speaks at the Delta Summit, Malta’s official blockchain and digital innovation event promoting cryptocurrency, in St Julian’s, Malta on October 4, 2018. REUTERS / Darrin Zammit Lupi

Sept. 1 (Reuters) – Changpeng Zhao, founder and chief executive of the global cryptocurrency exchange, said his U.S. branch may be subject to a first public offering in the next three years, The Information reported Wednesday.

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

Binance.US is also expected to close a large private fundraiser over the next two months that is expected to reduce its control over the board, Zhao said in a Zoom interview with The Information.

Binance generated between $ 800 billion and $ 1 billion in profits last year, according to Zhao, the report adds.

Last month Brian Brooks, managing director of the U.S. cryptocurrency exchange, stepped down just three months after taking office. Read more

The exchange has come under pressure from regulators around the world over concerns over the use of crypto in money laundering and risks to consumers. Read more

Report by entrepreneur Sabahatjahan in Bangalore. Editing by Gerry Doyle

Our standards: Thomson Reuters Trust Principles.

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