The valuation of bitcoin exchanges Gemini and Binance.US could rise to $7 billion and $3 billion respectively following new funding rounds. The figures, citing informed sources, were provided by The Block.
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In January, Gemini founders Cameron and Tyler Winklevoss announced plans for the company to go public via an IPO. Beginning in the spring, they have been in talks with venture investors, who are currently at the final stage.
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Binance.US began the process in August, but the resignation of CEO Brian Brooks forced the expected timeline for its completion to be moved back.
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Media reports suggested the resignation could have been driven by the Binance chief Changpeng Zhao’s substantial stake in the business (90%) and his reluctance to distance the U.S. subsidiary from the parent company. It was also affected by regulatory pressure on the bitcoin exchange.
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The global Binance platform is also involved in seeking investors with a valuation of $100-$300 billion.
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In September, the bitcoin exchange announced the appointment of Brian Schrader as president of the U.S. unit. He is tasked with preparing for an IPO.
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Earlier, Zhao disclosed plans for Binance.US to conduct a public listing on the U.S. stock market within the next three years.
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Earlier, the head of Binance pledged to abandon the ‘decentralized model’ of the business.
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In June, the Kraken CEO confirmed plans to go public in the second half of 2022.
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