Changpeng Zhao said that the IPO of subsidiary Binance.US could take place in 3 years. According to him, the American division may repeat the path taken earlier by another major exchange, Coinbase.
Today, Binance is waging an unequal battle with the regulators of most of the world's strongest states, as they began to massively file accusations against it in connection with the lack of a proper license. Because of this, financial departments do their best to convince their citizens not to use the services of one of the largest cryptocurrency exchanges in the world.
Zhao first announced his plans to go public during the Redefine Tomorrow event in July this year. Now the CEO of Binance has again recalled the words about the initial public offering of shares, calling a clearer time frame. Or, at least, an indicator close to reality, from which the team of the American division of the crypto exchange will now start.
However, according to Changpeng Zhao, things could change due to market factors. In addition, the decision to enter an IPO will almost certainly be made with an eye on the market position in the next few years and how successfully the problem with the majority of regulators will be solved. After all, it is unlikely that doing business, which is constantly stepped on by the throat, will be possible.
Cryptocurrency experts shared their opinion on the situation with the Binance IPO.
Mati Greenspan of Quantum Economics believes that for Binance.US, an IPO can help make the exchange "more legitimate" in the eyes of financial institutions and, in the long term, have a positive impact on the entire crypto industry. For many companies, IPOs are a “gateway to the light”, he said, especially in the US, where a new asset class is constantly challenged by the regulatory landscape.
Konstantin Anisimov, director of the CEO.IO exchange, stressed that after the debut of Coinbase, all major market players thought about whether they should also try to “become more public”. Indeed, first of all, such a step provides companies with access to significant amounts of capital and contributes to the development of many new partnerships. Not to mention the obvious benefits, such as "increasing brand awareness" and changing the "paradigm of relations with the market."
At the same time, Anisimov wondered if Binance was ready for this level of transparency. After all, the main problem for the exchange may be that Binance.US will have to separate from its parent company if it refuses to “fully open its ledger”.
Speaking about the potential IPO of Binance.US, the CEO also mentioned that the exchange intends to close the private funding round in the next few months. This, according to Zhao, will reduce his control over the company's board of directors.
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