According to Bloomberg, Binance is actively XEM various options to restart the operations of Binance US, its subsidiary responsible for the US market, after a long period of legal and operational difficulties. One scenario being discussed is the possibility of Capital Binance US while adjusting the ownership structure to reduce the stake of Changpeng Zhao (CZ), the founder and former CEO of Binance. This is XEM as a strategic move to remove the biggest obstacle hindering Binance US's expansion in many states across the United States.
In the past, CZ's status as the controlling shareholder has caused Binance US significant obstacles in obtaining operating licenses and expanding services, especially in the context of tightening scrutiny of the cryptocurrency industry by US regulators. Following legal agreements in late 2023 and early 2024, Binance committed to a major overhaul of its governance system, enhancing compliance and reducing reliance on the founder. However, in reality, the ownership structure remains a sensitive point, causing many states and financial partners in the US to be hesitant.
