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Binance Is in Talks With Sovereign Wealth Funds on Investment

  • Cryptocurrency exchange faces regulatory pressure worldwide
  • Founder has said any investment could help relationships
Zhao Changpeng
Zhao ChangpengPhotographer: Wei Leng Tay/Bloomberg

Binance, the world’s largest cryptocurrency exchange, confirmed that it is in talks with sovereign wealth funds about them taking a stake as the closely-held firm faces increasing regulatory pressure worldwide. 

Investments from sovereign wealth funds would help improve its “perception and relationships” with various governments, Binance Chief Executive Officer Changpeng Zhao told the Financial Times this week. His comments were confirmed by a spokesperson.