Binance Plans US Comeback: CZ May Cut Stake, Eyes Trump and BlackRock Deals: Report

Core Insights - Binance is preparing for a potential return to the US market by considering structural changes to its American operations, including a possible recapitalization of Binance.US to reduce founder Changpeng Zhao's controlling stake, which is seen as essential for overcoming regulatory challenges [1][2] Group 1: Regulatory Challenges - Zhao's majority ownership has complicated expansion efforts, especially after US regulators charged him and the company in 2023 for inadequate anti-money laundering controls [2] - Binance.US is currently blocked from operating in over a dozen states and US territories due to regulatory actions, with several states withdrawing licenses and others, like New York, not granting approval [6] Group 2: Market Position and Historical Context - Binance.US was once a significant player in the American crypto market, controlling about 35% of US trading volume at its peak before facing regulatory setbacks [5] - The exchange's presence has dramatically declined due to a wave of regulatory actions, leading to its current limited operational capacity in the US [5][6] Group 3: Industry Sentiment and Future Outlook - Despite ongoing regulatory challenges, there is a shift in the regulatory mood in Washington, with the Trump administration easing enforcement pressure and advancing legislation that could reshape access to the US market [7] - Zhao has expressed a strong intention to position the US as a central hub for the crypto industry, referring to it as an "emerging land" for Binance after years of retreat [4]