Binance.US Gears Up for a Big Comeback in 2025
A New Chapter for Binance.US
Big news for crypto enthusiasts! Binance.US, the American branch of global crypto giant Binance, is making strides toward reinstating US dollar services. According to interim CEO Norman Reed, the company is “closer than ever” to bringing back USD operations, aiming for a relaunch in early 2025.
In a December 18 blog post, Reed expressed the company’s commitment to providing users with low fees and high rewards, reinforcing Binance.US’s position as a leading crypto exchange.
“2025 Will Be a Breakout Year for Binance.US”
Norman Reed didn’t hold back on enthusiasm, stating that the company is on track to delivering a “comeback story for the ages.” Looking ahead, Binance.US is planning significant updates to enhance its platform.
Strengthening Infrastructure
Reed emphasized that the company is leveraging strategic partnerships to upgrade its exchange infrastructure. This means users can expect improved custody services, new wallet solutions, and other exciting benefits.
He confidently declared:
“I strongly believe that 2025 will be a breakout year for Binance.US, and our teams are hard at work building a comeback story for the ages. I welcome everyone to join us in taking Binance.US to the next level…”
The Return of USD and More
With USD services poised for a return, Binance.US is reinforcing its reputation as the go-to platform for cost-effective crypto trading. The exchange still offers 0% fees on Bitcoin trades with BTC/USDC and supports trading for 160 cryptocurrencies, alongside staking for over 20 assets.
Binance.US interim CEO Norman Reed.
Binance.US interim CEO Norman Reed. Source: LinkedIn
Binance.US: A Tumultuous History
Founded in 2019, Binance.US was established to offer U.S.-regulated crypto services. However, things took a turn in mid-2023 when the SEC filed a lawsuit against Binance, alleging unregistered securities operations.
The Impact of the SEC Lawsuit
Following the lawsuit, Binance.US suspended USD deposits and later transitioned to a crypto-only exchange. Regulatory challenges continued, and in October 2023, the company officially stated that it would no longer support USD transactions.
Binance.US preps for a major U.S. relaunch in early 2025.
Binance.US announced its potential comeback to the US in early 2025. Source: Binance.US
A $4.3 Billion Settlement and Compliance Overhaul
In a major development, Binance agreed to a $4.3 billion settlement with U.S. regulators in November 2023 to resolve allegations related to money laundering and operating without a proper license. As part of the deal, Binance had to implement rigorous compliance measures, which included a complete exit from the United States.
What’s Next for Binance.US?
With a renewed focus on compliance and innovation, Binance.US is laying the groundwork for a strong return. While regulatory hurdles remain, the company’s efforts to reinstate USD services signal a fresh start.
Will 2025 indeed be a breakout year for Binance.US? Only time will tell, but one thing is clear—big changes are on the horizon, and the crypto exchange is ready to re-enter the scene stronger than ever.
Related: Crypto Biz: Binance seals USDC ties a year after BUSD exit
