Binance founder sees crypto exchange IPO in three years

Binance, which bills itself as the world's largest blockchain ecosystem and cryptocurrency infrastructure provideR, is considering going public in the U.S. in about three years. Binance founder and CEO Changpeng Zhao told The Information in a story published yesterday that the exchange is set to close on a large private fundraising round in the next two months that will reduce his control of the board. Zhao is confident that the company can overcome some recent regulatory and legal problems that have plagued the company recently, according to the report. The U.K., Italy and Hong Kong have said that the company isn't licensed to do business in their jurisdictions. And it's reportedly under investigation by the U.S. Justice Department and the IRS. Last week, Binance expanded its KYC requirements to bolster user protections. In May, Crypto platform Apifiny confirmed 2021 a go-public plan and in March cryptocurrency exchange eToro (ETORO) agreed to go public via a SPAC merger.