Cryptocurrency news

“The market value of the Binance exchange is $ 300 billion” claim

Although it does not have a head office, the Binance exchange, which aims to go public, is claimed to be worth $ 300 billion.

“The market value of the Binance exchange is $ 300 billion” claim

It has been claimed that Binance could be worth three times more than Coinbase if it goes public today, even with no physical headquarters and regulatory issues affecting its business model.

According to The Wall Street Journal November 11, dated news, former executives of the leading crypto-currency exchanges, when the current transaction volume and costs are taken into account, in case of a public company Binance ring may have $ 300 billion worth argues .

Binance has more than $46 billion in trading volume in the last 24 hours, according to CoinMarketCap data . This value puts it about $9.5 billion ahead of Coinbase. According to valuation estimates, Binance will surpass its US rival Coinbase, which went public in April with a valuation of $100 billion.

If Binance were to go public, it is unclear in which country its headquarters will be located. The exchange does not have an official headquarters, but the holding company is registered in the Cayman Islands, which has formerly ties to China, Japan, Malta and the Seychelles. CEO Changpeng Zhao (CZ) lives in Singapore and most of Binance’s employees work around the world.

Changpeng Zhao

However, CZ said in September that the U.S. arm of the exchange is targeting an IPO in 2024 and aims to make between $800 million and $1 billion in profits in 2020. Kraken also aims to go public in the US by the end of next year . As of June, its estimated value was $10 billion.

Binance; It has faced scrutiny from regulators around the world, while warning local investors in the US, Italy, Canada, Japan, Thailand and more to be cautious when using the stock market. CZ said in July that it wants Binance to be ” licensed everywhere ” in coordination with regulators as the company expands .

Samuel Hegi

Samuel Hegi , who first became acquainted with blockchain technology in 2014, is highly critical of blockchain technology. Samuel Hegi, a journalism graduate from the University of Brighton he is the editor-in-chief of the news portal. Blockchain is love.

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