Citing sources, CoinDesk reported that the American division of the Binance bitcoin exchange plans to raise another $50 million.

In April, Binance.US raised $200 million in an initial round at a valuation of $4.5 billion. The company was backed by RRE Ventures, Foundation Capital, Original Capital, VanEck, Circle Ventures, Gaingels, Gold House, and a host of other firms.

Sources said the new funding will be a continuation of the seed round, not the Serie A phase. “Strategic partners” will participate in it.

Binance.US CEO Brian Schroeder has previously explained the appeal of new investments, stating that this will allow the company to “enter the crypto winter from a strong position.”

Investors are not afraid to invest additional funds in us,” he said.

At the same time, Schroeder said the company will announce its funding appeal in July.

As the market plummeted, rival cryptocurrency exchanges such as Coinbase, Gemini, and Crypto.com announced layoffs. The head of Binance.US assured employees to “ignore the noise.”

“Given all the things we have done to enter it growing and richly resourced, there is no world where we will not emerge from this crypto winter in a stronger position,” Schroeder said.

Binance.US was launched in the US in 2019. Schroeder took over as CEO in October 2021. In this position, he replaces Brian Brooks, the former head of the Office of the Currency Controller at the U.S. Treasury, who worked for the company for about three months.

According to the Wall Street Journal, the SEC has launched an investigation into ties between Binance.US and two trading firms affiliated with parent company founder Changpeng Zhao.

In June, a lawsuit was filed against American platform Binance on behalf of investors LUNA and TerraUSD (UST).

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