CZ: Binance Aims to Expand US Presence, Including Seeking Bank Charter

On Feb. 23, Changpeng Zhao (CZ), founder of Binance, told Bloomberg in an interview at the World Liberty Financial Forum that Binance aims to expand its U.S. business further, bringing top-tier products to the country to make it easier for American consumers to access these high-quality offerings. During the interview, CZ noted that after the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Binance.US in 2023, the platform’s U.S. arm lost numerous banking partners and market share, facing significant hurdles. The lawsuit was dismissed last year under SEC Chair Paul Atkins—appointed by former President Trump—amid a shift to a more favorable regulatory landscape. Now, once-unreachable goals like deeper banking partnerships and even pursuing a banking license are “entirely feasible,” he said, though he stressed that any such steps would hinge on assembling the right team and securing proper legal counsel.