Binance’s US arm is considering an IPO within the next 3 years, boss Changpeng Zhao says

Binance’s US arm is considering an IPO within the next 3 years, boss Changpeng Zhao says

Crypto exchange Binance is planning an initial public offering for its US arm within the next three years depending on business growth, CEO Changpeng Zhao told in a recent interview. "Binance.US is just going to do what did," Zhao told the tech-based publication in a Zoom interview published Wednesday. He suggested Binance has an edge over Coinbase in terms of cost structure. "The users using Binance.US pay about one-fifth of the fees that they pay on Coinbase - so it's about five times cheaper," he said. Some experts said Coinbase's public listing, the first for a major crypto exchange, was for crypto what Google's IPO was for the internet. Without mentioning any names, Zhao said Binance.US is about to close a "large" private fundraising round in the next two months that should reduce his control of the board. It plans to IPO after that, he said. "If the business can grow consistently over the next three years, then three years should be sufficient for an IPO, but if there's a prolonged bear market for, I don't know, maybe three or five years, then it may be a little bit longer," he added. Binance has recently been under fire over a