CZ considering reducing its stake
);)
Bloomberg reported on the 18th that Binance is discussing various options, including changes to its governance structure, to expand its business in the US. According to the report, Changpeng Zhao's majority ownership structure is perceived as a major obstacle to Binance's expansion into key US states.
Currently, no concrete implementation plans have been finalized, and related discussions remain in a fluid phase. However, Binance is reportedly exploring the possibility of collaborating with US-based companies, such as World Liberty Financial, a decentralized finance platform with ties to US President Donald Trump, to strengthen its presence in the country.
The possibility of Binance re-entering the US market gained traction across the industry after President Trump pardoned Changpeng Zhao in October. At the time, Zhao declared on social media that he would "do everything possible to make the US the capital of cryptocurrency and to advance the global web3."
Binance ceased services to US customers in June 2019 and subsequently launched Binance.US, a separate legal entity compliant with US regulations. This entity, operated by BAM Trading Services, operates separately from the global Binance exchange, with access to liquidity and derivatives.
Meanwhile, in 2023, the U.S. Securities and Exchange Commission raised concerns, alleging that Binance Holdings effectively operated Binance.com and Binance.us. Binance and Binance.us have not yet released an official statement on the matter as of press time.
According to Chainalysis's 2025 Global Cryptocurrency Adoption Index, the United States ranks first globally for cryptocurrency adoption and is considered a key market. Industry insiders believe that if Binance re-enters the US market, it could re-open the world's largest liquidity pool.
However, political backlash remains a factor. Following Zhao's pardon in October, Massachusetts Senator Elizabeth Warren and California Representative Maxine Waters strongly criticized the move. Warren characterized the pardon as "corrupt," reaffirming the Democratic Party's wariness of the cryptocurrency industry's expansion.
These political tensions could pose additional regulatory risks to Binance's future attempts to return to the US.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
