Binance Considers Multiple Avenues Back to the United States
Binance, the world’s largest cryptocurrency exchange by trading volume, is considering restructuring to boost its presence in the US. A key step may involve reducing co-founder Changpeng “CZ” Zhao’s majority stake, which has reportedly hampered the company’s US expansion efforts. Binance is also exploring partnerships with major US firms, including BlackRock and the DeFi platform World Liberty Financial, to strengthen its US footprint. Speculation about Binance’s US return intensified after former President Trump pardoned Zhao, despite regulatory and political challenges. In 2019, Binance stopped serving US customers, leading to the creation of the separate Binance.US platform operated by BAM Trading Services. However, the US Securities and Exchange Commission has claimed both platforms are linked. Binance.US remains a distinct entity, lacking access to global Binance liquidity and derivatives. The US is a vital market for crypto exchanges, but the company faces opposition from some Democratic lawmakers who criticized Zhao’s pardon and the crypto industry’s expansion efforts, citing concerns about regulatory compliance and political influence.
