Binance Deepens BlackRock Ties as CZ Seeks to Revive its US Subsidiary

Key Insights

• Binance seeking to build a closer relationship with BlackRock.
• Crypto exchange exploring ways to revive BinanceUS.
• BNB Chain becomes largest platform for BlackRock USD Institutional Digital Liquidity Fund (BUIDL) deployment.
• BNB price trades near $860 amid uncertainty in the broader crypto market.

The world’s largest crypto exchange Binance is deepening its relationship with the world’s largest asset manager BlackRock. The crypto exchange is reportedly in talks to revive its affiliate, BinanceUS.

This comes following Changpeng “CZ” Zhao’s pardon by US President Donald Trump. The recent rise in tokenization comes as a major opportunity to reposition itself in the market.

Binance Pursuing Closer Relationship with BlackRock

Crypto exchange Binance continues to work closely with BlackRock to establish partnerships with US financial giants, Bloomberg reported on December 17.

The crypto exchange is actively exploring ways to relaunch Binance US. This even includes options of a potential recapitalization that could dilute founder Changpeng “CZ” Zhao’s majority stake.

The move comes as CZ has become more vocal in public since his pardon. He has also praised President Donald Trump’s pro-crypto stance and desire to make America the crypto hub.

In a significant development, Binance is working closely with investment giant BlackRock to deepen their financial partnership. Discussions include launching new products and establishing revenue-sharing agreements.

Binance and BlackRock Existing Ties

BNB Chain has become the largest platform for deploying BlackRock USD Institutional Digital Liquidity Fund (BUIDL), surpassing Ethereum.

At the time of writing, BUIDL’s total asset value is around $1.80 billion. BNB Chain accounts for $502.2 million, whereas $500 million is on Ethereum.

In November, Binance also announced that institutional clients can use the BUIDL as collateral for derivatives trading. This allowed large investors to earn yield while those assets are used for active crypto trading.

Binance seeks to reestablish itself in the U.S. following regulatory setbacks and leadership changes, signaling its commitment to compliance and innovation.

BNB Price Trades Under $900

BNB price fell 1% in the past 24 hours, currently trading at $860. The 24-hour low and high were $856.08 and $877.61, respectively.

Furthermore, trading volume has decreased by 5% in the last 24 hours. This indicates a decline in interest among traders.

In the daily timeframe, the price is below the 50-MA, 100-MA and 200-MA at the time of writing. The relative strength index (RSI) dropped to 41, signaling potential for a further sideways move.

CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total BNB futures open interest dropped almost 1.50% to $1.33 billion in the last 24 hours.

BNB futures open interest on Binance dropped 0.40% and climbed 1% on OKX and Bybit. This signals mixed sentiment among derivatives traders.