Media: Gemini and Binance.US expect to become unicorns after new investments

October 12, 2021

Gemini and Binance.US expect to become unicorns after new investments

The valuation of bitcoin exchanges Gemini and Binance.US could rise to $7bn and $3bn respectively following new funding rounds. These figures were cited by The Block, citing knowledgeable sources.

Gemini's founders, brothers Cameron and Tyler Winklevoss, announced plans to go public in January. They have been in talks with venture capitalists since the spring, which are now in the final stages.

Binance.US initiated the process in August, but the resignation of CEO Brian Brooks has pushed back the expected completion date.

According to media reports, the reason for the resignation may have been the significant stake in the business (90%) of Binance CEO Changpeng Zhao and his reluctance to distance the US subsidiary from its parent company. Regulatory pressure on the bitcoin exchange also had an impact.

Global platform Binance is also involved in a search for investors with a business valuation of $100-$300bn.

Recall that in September the bitcoin exchange announced the appointment of Brian Schroeder as president of the US division. He is tasked with preparing for the IPO.

Prior to that, Zhao announced plans for Binance.US to conduct a public offering on the US stock market in the next three years.

Earlier, the Binance CEO promised to abandon the "decentralised model" of business.

In June, the CEO of cryptocurrency exchange Kraken confirmed a plan to become a public company in the second half of 2022.

Like any investment, it may be a good idea to start small to learn the mechanics of buying Binance. Where to buy Binance, and how to store. What is Binance?

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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