Page 1 EXHIBIT A-53Page 2 CONFIDENTIAL
Binance.US
Seed Round Pitch Deck
September 2021Page 3 CONFIDENTIAL
This presentation (the “Presentation”) and any information contained within is considered BAM Management US Holdings Inc. (“BAM”) confidential information and
may not be (i) reproduced (in whole or in part) or (ii) disseminated to any other person. The Presentation does not constitute or form part of, and should not be
construed as, an offer or promise to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or
any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.
No representations or warranties, express or implied are given in, or in respect to the accuracy or completeness of any information included in, the Presentation,
including, without limitation, any financial projections regarding the current and future value of BAM. To the fullest extent permitted by law, in no circumstances will
BAM, or any of its respective subsidiaries, shareholders, affiliates, representatives, directors, officers, employees, advisers or agents be responsible or liable for any
direct, indirect or consequential loss or loss of profit arising from the Presentation, its contents, its omissions, reliance on the information contained within it, or on
opinions communicated in relation thereto or otherwise arising in connection therewith.
The information contained in the Presentation has not been independently verified. Furthermore, the Presentation contains certain financial estimates and other
statistical analyses (the “Statistical Information”). Numerous assumptions were used in preparing the Statistical Information, which may not be reflected herein. Certain
Statistical Information is derived from estimates and subjective judgments. As such, no assurance can be given as to the accuracy, appropriateness or completeness of
the Statistical Information as used in any particular context. Recipients of the Presentation are not to construe its contents, or any prior or subsequent communications
from or with BAM or its representatives as financial, investment, legal, tax, business or other professional advice. Recipients of the Presentation should consult with
their own advisers and should each make their own evaluation of the Presentation’s contents. BAM undertakes no obligation to update or revise the Presentation as a
result of new information, future events or otherwise.
Certain statements in this Presentation which are not statements of historical fact are known as "forward looking statements," which are statements about the future.
For that reason, these statements involve risk and uncertainty since no one can accurately predict the future. Words such as "plans," "intends," "hopes," "seeks,"
"anticipates," "expects," and the like often identify such forward looking statements, but are not the only indication that a statement is forward-looking. Such forward
looking statements include statements concerning our plans and objectives with respect to our present and future operations, and statements which express or imply
that such present and future operations will or may produce revenues, income or profits. In evaluating these forward-looking statements, you should consider various
factors, including those described in this Presentation under the heading "Risks and Mitigation Strategies" on page 31. These and other factors may cause our actual
results to differ materially from any forward-looking statement. We caution you not to place undue reliance on these forward-looking statements. Although we base
these forward-looking statements on our expectations, assumptions and projections about future events, actual events and results may differ materially, and our
expectations, assumptions and projections may prove to be inaccurate.Page 4 CONFIDENTIAL
1.
2.
Introduction
Current Product Offering
3.
Binance.US by the Numbers
4.
Future Growth Initiatives and Seed RoundPage 5 CONFIDENTIAL
IntroductionPage 6 History
CONFIDENTIAL
Binance.COM is one of the fastest growing companies in history!
Despite being four years old, Binance.COM
has already reached >$1 billion in PROFIT
165 Days from Launch to World’s Largest Crypto Exchange.
5Page 7 History
CONFIDENTIAL
Binance.COM’s achievements are incredible and unprecedented
Largest Fiat-tocrypto Exchange
Largest Futures
Exchange
Largest NFT
Marketplace
Most Visited
Websites in Crypto
Binance leads the industry
with ~70% market share
Binance Futures commands
>50% global market share
Artists, creators, and crypto
enthusiasts together on a
CMC & Binance.com have more
monthly visits than Forbes, WSJ,
single platform
and Bloomberg COMBINED
Incredibly Successful
Venture Fund
Largest P2P
Exchange
Largest Mobile
Crypto Wallet
Most Active
Blockchain
Binance Labs has achieved
over 66x return in 3 years
>1 million + weekly traders
TrustWallet
By Address & TransactionsPage 8 Introduction to Binance.US
Binance.COM and Binance.US –
two legal entities, one powerful
brand and technology stack
Our relationship with Binance.COM is governed by a series
of service level agreements that authorize: the licensing of
Binance.COM's matching engine and wallet technology, the
licensing of Binance.COM's trademarks, the provision of
certain digital asset custody services, and the provision of
other services
CONFIDENTIAL
7Page 9 State Licenses and Operations
Binance.US licensed / authorized
to operate in 43 States
as well as 5 U.S. territories
Seeking to obtain money transmitter licensing (MTL) in:
•
•
•
•
•
•
•
New York
Texas
West Virginia
Idaho
Vermont
Louisiana
Hawaii
U.S. Territories: (1) Puerto Rico; (2) Guam; (3) Northern Mariana Islands; (4) American Samoa; and (5) the U.S. Virgin Islands
CONFIDENTIAL
8Page 10 Historical Growth
From 0 to 1 million registered users in 16 months…
… from 1 million to 5 million users in 5 months!
CONFIDENTIAL
9Page 11 Binance.US Key Facts
Users
Transactions
Financials
Note: Numbers as of September 1st,
CONFIDENTIAL
5.3M+
2.1M
1.2M
US Registered Users
Advanced KYC’d Users
Accounts Funded
$7.5B
$24B
$205B
Assets under Custody
Avg. Monthly Trading
Volume
Trading Volume To Date
$284M
$92M
$153M
FY21 Forecasted
Operating Profit
FY21 Net Income
FY21 Forecasted
RevenuePage 12 CONFIDENTIAL
Current Product OfferingPage 13 Product Superiority
CONFIDENTIAL
Binance.US – named Forbes’ “Best Overall Crypto Exchange” in
Advanced trading engine,
capable of processing more than
1.4 million orders per second
99.99% up time across all
platforms - web, app and API
A multitude of USD Fiat on/off
ramps including ACH
deposit/withdrawals, card
purchases and wire transfers
0 security breaches since
launch in October
Forbes link: https://www.forbes.com/advisor/investing/best-crypto-exchanges/
60+ crypto assets supported
across 117 trading pairs
Robust compliance framework:
KYC checks, AML screens, on-chain
monitoring, trade surveillance, risk
management, etc.Page 14 Compliance
CONFIDENTIAL
Binance.US deploys both human intelligence (~20% of US FTEs in
Compliance and Risk) and artificial intelligence / computing power to
ensure highest level of compliance
Identity verification and KYC
(Know Your Customer)
screening
Anti Money Laundering (AML)
screening
Blockchain monitoring and
analytics
Trade surveillance, market
manipulation, and transaction
monitoringPage 15 Omnichannel Platform
App
CONFIDENTIAL
Web
API
14Page 16 Trading Fees
Binance.US consistently offers some of
the lowest trading fees in the market
CONFIDENTIAL
15Page 17 Exchange Take Rate
Current fee structure yields ~15 bps from Retail investors
and ~2 bps from Institutional investors
Trading Volume Take Rate (in bps)
CONFIDENTIAL
16Page 18 Retail vs. Institutions
CONFIDENTIAL
Institutions drive majority of trading volume
Retail users drive majority of revenue
Trading Volume ($) – Retail vs. Institutions
Revenue ($) – Retail vs. Institutions
17Page 19 CONFIDENTIAL
Binance.US by the NumbersPage 20 Binance.US by the numbers
Average Trading Volumes & Revenues
CONFIDENTIAL
19Page 21 Binance.US by the numbers
CONFIDENTIAL
Accelerated growth in bull markets,
stable volumes in bear markets
Source: https://s27.q4cdn.com/397450999/files/doc_financials/2021/q2/Coinbase-Q221-Shareholder-Letter.pdf
20Page 22 Binance.US by the numbers
CONFIDENTIAL
Despite only operating in the U.S., Binance.US’s
trading volumes rival GLOBAL players
Using volume / valuation multiple
Binance.US would be valued at:
• $7.7B at FTX
• $13.6B at Coinbase
• $13.7B at Kraken
• $27.7B at Gemini
In August 2021, Binance.US’s trading
volume was ~5x larger than FTX.US and
~24% of Coinbase’s global volumesPage 23 Binance.US by the numbers
Binance.US continues to gain share
against the competition
Spot Market Volume Market Share (CoinMarketCap)
Source: CoinMarketCap
CONFIDENTIAL
In less than a year, Binance.US’s market share has
grown 571% (from 2.2% to 13.6%) and is on track to
become the 2nd largest exchange in the USPage 24 Binance.US by the numbers
CONFIDENTIAL
At its core, Binance.US’s exchange business is fundamentally profitable
Total Revenue
Gross Profit
Operating Profit
23Page 25 Binance.US by the numbers
CONFIDENTIAL
Beyond its profitable operations, Binance.US also captures significant
upside from the appreciation of its corporate crypto assets
Other Income / (Expenses)
Increases and decreases in corporate
crypto assets are captured every
month in mark-to-market accounting
and classified as “Other Income”
Net Income
14Page 26 Binance.US by the numbers
CONFIDENTIAL
Binance.US’s cash-flow-positive operations and upside from crypto
asset appreciation creates a very strong corporate balance sheet
25Page 27 CONFIDENTIAL
Future Growth InitiativesPage 28 Growth Strategy
CONFIDENTIAL
Beyond increasing market share and continued expansion of broader crypto
ecosystem, Binance.US has targeted strategies for accelerated growth
Gain licenses and
authorization to operate
in ALL 50 US States
Become undisputed leader
in high-quality digital asset
listings
• Obtaining outstanding
licenses increases
addressable market by 25%
• Today FTX = 22, Binance.US = 60,
Kraken = ~90, Coinbase = ~100,
Binance.com = 500+
• Leverage tech (e.g. Binance Smart
Chain) and relationships to offer
exclusive new coins and tokens
Strategic and expanded
focus on Institutional
Investors
Re-image retail experience
and accelerate customer
acquisition efforts
• Combination of best liquidity
and lowest fees positions .US
well to gain market share
• Customer-centric design
• ROI positive marketing investments
Leverage available and future
.COM technology to quickly
launch new products and
services
• Spot trading represents only 33% of
revenue/profit in .COM business
• Menu of Binance.COM's expansive
product and service offering ready to
launchPage 29 Major Initiative Planned
CONFIDENTIAL
Future Product Expansion
By leveraging Binance.COM’s existing technology stack, Binance.US can effectively launch key products
and services in as little as a few months (subject to legal/regulatory approval and compliance)
Yield Products
• Staking
Derivatives
•
•
•
•
Margin trading
Deliverable futures
Options
Perpetual swaps
Binance.US Card
• Visa/Mastercard for
cryptocurrencies
NFT Marketplace
• Cryptographic tokens for
unique assets
Binance.US Pay
• Peer-to-peer payments
Blockchain Products
•
•
•
•
•
Mining pools
Liquidity pools
Crypto loans
Swaps
Mini-Apps/dApps
28Page 30 Major Initiative Planned
CONFIDENTIAL
Goals for Seed Round
Diversify cap table with world-class investors
who can advise and guide the next phase in
.US growth
Gain access to a broader “network of friends”
to support business growth and improve
government / regulator / business community
relationships
Add new, independent members to the Board
to improve overall business governance and
oversight
Secure strategic investments from existing
and perspective customers and partners
29Page 31 Major Initiative Planned
CONFIDENTIAL
Use of Seed Capital
Fund product and service expansions
• Build / Buy / Partner
Corporate Development / M&A Activity
• E.g. state licenses, derivatives platform, custody
platform, potential DeFi/compliance JV, etc.
Make strategic, ROI-positive investments in
customer acquisition and retention
• Invest in Marketing and Brand: paid media, referrals,
branding, advertising, partnerships, community,
infrastructure, tools, competitive intelligence, etc.
Invest in securing and keeping Top Talent
• Build out Executive Team with All-Stars
• Employ the world’s best Risk, Compliance, and
Legal teams
• Invest in Key Business Initiatives: Institutional Team
• Invest in Key Business Capabilities: Design team,
Marketing, Data and Analytics
30Page 32 Risk Factors
CONFIDENTIAL
Risks…
and Mitigation Strategies
• Industry Risk
• Pursue Product and Customer Diversification
Potential for extended crypto bear market
• Regulatory/Legal Risk
US regulatory actions could result in legal actions,
corporate liability, registration requirements, loss of
licenses, etc.
• Security Risk
Constant threat of hackers
• Competition
Speed of execution is critical; need to stay ahead of
competition
Expand revenue and profit pools with new products and services
• Invest in Risk and Compliance Capabilities (i.e.,
people, AI, tools, and processes)
Build world-class Legal, Risk, and Compliance departments
• Leverage World Class Security
Ensure highest level of security across entire platform
• Hire Global Talent
Attract hungry professional who can out maneuver
and out hustle the competition
26
PDF Page 1
PlainSite Cover Page
PDF Page 2
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 1 of 32
EXHIBIT A-53
PDF Page 3
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 2 of 32
CONFIDENTIAL
Binance.US
Seed Round Pitch Deck
September 2021
PDF Page 4
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 3 of 32
CONFIDENTIAL
This presentation (the “Presentation”) and any information contained within is considered BAM Management US Holdings Inc. (“BAM”) confidential information and
may not be (i) reproduced (in whole or in part) or (ii) disseminated to any other person. The Presentation does not constitute or form part of, and should not be
construed as, an offer or promise to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or
any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever.
No representations or warranties, express or implied are given in, or in respect to the accuracy or completeness of any information included in, the Presentation,
including, without limitation, any financial projections regarding the current and future value of BAM. To the fullest extent permitted by law, in no circumstances will
BAM, or any of its respective subsidiaries, shareholders, affiliates, representatives, directors, officers, employees, advisers or agents be responsible or liable for any
direct, indirect or consequential loss or loss of profit arising from the Presentation, its contents, its omissions, reliance on the information contained within it, or on
opinions communicated in relation thereto or otherwise arising in connection therewith.
The information contained in the Presentation has not been independently verified. Furthermore, the Presentation contains certain financial estimates and other
statistical analyses (the “Statistical Information”). Numerous assumptions were used in preparing the Statistical Information, which may not be reflected herein. Certain
Statistical Information is derived from estimates and subjective judgments. As such, no assurance can be given as to the accuracy, appropriateness or completeness of
the Statistical Information as used in any particular context. Recipients of the Presentation are not to construe its contents, or any prior or subsequent communications
from or with BAM or its representatives as financial, investment, legal, tax, business or other professional advice. Recipients of the Presentation should consult with
their own advisers and should each make their own evaluation of the Presentation’s contents. BAM undertakes no obligation to update or revise the Presentation as a
result of new information, future events or otherwise.
Certain statements in this Presentation which are not statements of historical fact are known as "forward looking statements," which are statements about the future.
For that reason, these statements involve risk and uncertainty since no one can accurately predict the future. Words such as "plans," "intends," "hopes," "seeks,"
"anticipates," "expects," and the like often identify such forward looking statements, but are not the only indication that a statement is forward-looking. Such forward
looking statements include statements concerning our plans and objectives with respect to our present and future operations, and statements which express or imply
that such present and future operations will or may produce revenues, income or profits. In evaluating these forward-looking statements, you should consider various
factors, including those described in this Presentation under the heading "Risks and Mitigation Strategies" on page 31. These and other factors may cause our actual
results to differ materially from any forward-looking statement. We caution you not to place undue reliance on these forward-looking statements. Although we base
these forward-looking statements on our expectations, assumptions and projections about future events, actual events and results may differ materially, and our
expectations, assumptions and projections may prove to be inaccurate.
PDF Page 5
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 4 of 32
CONFIDENTIAL
1.
2.
Introduction
Current Product Offering
3.
Binance.US by the Numbers
4.
Future Growth Initiatives and Seed Round
PDF Page 6
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 5 of 32
CONFIDENTIAL
Introduction
PDF Page 7
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 6 of 32
History
CONFIDENTIAL
Binance.COM is one of the fastest growing companies in history!
Despite being four years old, Binance.COM
has already reached >$1 billion in PROFIT
165 Days from Launch to World’s Largest Crypto Exchange.
5
PDF Page 8
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 7 of 32
History
CONFIDENTIAL
6
Binance.COM’s achievements are incredible and unprecedented
Largest Fiat-tocrypto Exchange
Largest Futures
Exchange
Largest NFT
Marketplace
Most Visited
Websites in Crypto
Binance leads the industry
with ~70% market share
Binance Futures commands
>50% global market share
Artists, creators, and crypto
enthusiasts together on a
CMC & Binance.com have more
monthly visits than Forbes, WSJ,
single platform
and Bloomberg COMBINED
Incredibly Successful
Venture Fund
Largest P2P
Exchange
Largest Mobile
Crypto Wallet
Most Active
Blockchain
Binance Labs has achieved
over 66x return in 3 years
>1 million + weekly traders
TrustWallet
By Address & Transactions
PDF Page 9
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 8 of 32
Introduction to Binance.US
Binance.COM and Binance.US –
two legal entities, one powerful
brand and technology stack
Our relationship with Binance.COM is governed by a series
of service level agreements that authorize: the licensing of
Binance.COM's matching engine and wallet technology, the
licensing of Binance.COM's trademarks, the provision of
certain digital asset custody services, and the provision of
other services
CONFIDENTIAL
7
PDF Page 10
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 9 of 32
State Licenses and Operations
Binance.US licensed / authorized
to operate in 43 States
as well as 5 U.S. territories
Seeking to obtain money transmitter licensing (MTL) in:
•
•
•
•
•
•
•
New York
Texas
West Virginia
Idaho
Vermont
Louisiana
Hawaii
U.S. Territories: (1) Puerto Rico; (2) Guam; (3) Northern Mariana Islands; (4) American Samoa; and (5) the U.S. Virgin Islands
CONFIDENTIAL
8
PDF Page 11
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 10 of 32
Historical Growth
From 0 to 1 million registered users in 16 months…
… from 1 million to 5 million users in 5 months!
CONFIDENTIAL
9
PDF Page 12
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 11 of 32
Binance.US Key Facts
Users
Transactions
Financials
Note: Numbers as of September 1st, 2021
CONFIDENTIAL
10
5.3M+
2.1M
1.2M
US Registered Users
Advanced KYC’d Users
Accounts Funded
$7.5B
$24B
$205B
Assets under Custody
Avg. Monthly Trading
Volume
Trading Volume To Date
$284M
$92M
$153M
FY21 Forecasted
Operating Profit
FY21 Net Income
FY21 Forecasted
Revenue
PDF Page 13
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 12 of 32
CONFIDENTIAL
Current Product Offering
PDF Page 14
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 13 of 32
Product Superiority
CONFIDENTIAL
12
Binance.US – named Forbes’ “Best Overall Crypto Exchange” in 2021
Advanced trading engine,
capable of processing more than
1.4 million orders per second
99.99% up time across all
platforms - web, app and API
A multitude of USD Fiat on/off
ramps including ACH
deposit/withdrawals, card
purchases and wire transfers
0 security breaches since
launch in October 2019
Forbes link: https://www.forbes.com/advisor/investing/best-crypto-exchanges/
60+ crypto assets supported
across 117 trading pairs
Robust compliance framework:
KYC checks, AML screens, on-chain
monitoring, trade surveillance, risk
management, etc.
PDF Page 15
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 14 of 32
Compliance
CONFIDENTIAL
13
Binance.US deploys both human intelligence (~20% of US FTEs in
Compliance and Risk) and artificial intelligence / computing power to
ensure highest level of compliance
Identity verification and KYC
(Know Your Customer)
screening
Anti Money Laundering (AML)
screening
Blockchain monitoring and
analytics
Trade surveillance, market
manipulation, and transaction
monitoring
PDF Page 16
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 15 of 32
Omnichannel Platform
App
CONFIDENTIAL
Web
API
14
PDF Page 17
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 16 of 32
Trading Fees
Binance.US consistently offers some of
the lowest trading fees in the market
CONFIDENTIAL
15
PDF Page 18
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 17 of 32
Exchange Take Rate
Current fee structure yields ~15 bps from Retail investors
and ~2 bps from Institutional investors
Trading Volume Take Rate (in bps)
CONFIDENTIAL
16
PDF Page 19
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 18 of 32
Retail vs. Institutions
CONFIDENTIAL
Institutions drive majority of trading volume
Retail users drive majority of revenue
Trading Volume ($) – Retail vs. Institutions
Revenue ($) – Retail vs. Institutions
17
PDF Page 20
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 19 of 32
CONFIDENTIAL
Binance.US by the Numbers
PDF Page 21
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 20 of 32
Binance.US by the numbers
Average Trading Volumes & Revenues
CONFIDENTIAL
19
PDF Page 22
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 21 of 32
Binance.US by the numbers
CONFIDENTIAL
Accelerated growth in bull markets,
stable volumes in bear markets
Source: https://s27.q4cdn.com/397450999/files/doc_financials/2021/q2/Coinbase-Q221-Shareholder-Letter.pdf
20
PDF Page 23
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 22 of 32
Binance.US by the numbers
CONFIDENTIAL
Despite only operating in the U.S., Binance.US’s
trading volumes rival GLOBAL players
Using volume / valuation multiple
Binance.US would be valued at:
• $7.7B at FTX
• $13.6B at Coinbase
• $13.7B at Kraken
• $27.7B at Gemini
21
In August 2021, Binance.US’s trading
volume was ~5x larger than FTX.US and
~24% of Coinbase’s global volumes
PDF Page 24
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 23 of 32
Binance.US by the numbers
Binance.US continues to gain share
against the competition
Spot Market Volume Market Share (CoinMarketCap)
Source: CoinMarketCap
CONFIDENTIAL
22
In less than a year, Binance.US’s market share has
grown 571% (from 2.2% to 13.6%) and is on track to
become the 2nd largest exchange in the US
PDF Page 25
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 24 of 32
Binance.US by the numbers
CONFIDENTIAL
At its core, Binance.US’s exchange business is fundamentally profitable
Total Revenue
Gross Profit
Operating Profit
23
PDF Page 26
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 25 of 32
Binance.US by the numbers
CONFIDENTIAL
Beyond its profitable operations, Binance.US also captures significant
upside from the appreciation of its corporate crypto assets
Other Income / (Expenses)
Increases and decreases in corporate
crypto assets are captured every
month in mark-to-market accounting
and classified as “Other Income”
Net Income
14
PDF Page 27
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 26 of 32
Binance.US by the numbers
CONFIDENTIAL
Binance.US’s cash-flow-positive operations and upside from crypto
asset appreciation creates a very strong corporate balance sheet
25
PDF Page 28
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 27 of 32
CONFIDENTIAL
Future Growth Initiatives
PDF Page 29
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 28 of 32
Growth Strategy
CONFIDENTIAL
27
Beyond increasing market share and continued expansion of broader crypto
ecosystem, Binance.US has targeted strategies for accelerated growth
Gain licenses and
authorization to operate
in ALL 50 US States
Become undisputed leader
in high-quality digital asset
listings
• Obtaining outstanding
licenses increases
addressable market by 25%
• Today FTX = 22, Binance.US = 60,
Kraken = ~90, Coinbase = ~100,
Binance.com = 500+
• Leverage tech (e.g. Binance Smart
Chain) and relationships to offer
exclusive new coins and tokens
Strategic and expanded
focus on Institutional
Investors
Re-image retail experience
and accelerate customer
acquisition efforts
• Combination of best liquidity
and lowest fees positions .US
well to gain market share
• Customer-centric design
• ROI positive marketing investments
Leverage available and future
.COM technology to quickly
launch new products and
services
• Spot trading represents only 33% of
revenue/profit in .COM business
• Menu of Binance.COM's expansive
product and service offering ready to
launch
PDF Page 30
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 29 of 32
Major Initiative Planned
CONFIDENTIAL
Future Product Expansion
By leveraging Binance.COM’s existing technology stack, Binance.US can effectively launch key products
and services in as little as a few months (subject to legal/regulatory approval and compliance)
Yield Products
• Staking
Derivatives
•
•
•
•
Margin trading
Deliverable futures
Options
Perpetual swaps
Binance.US Card
• Visa/Mastercard for
cryptocurrencies
NFT Marketplace
• Cryptographic tokens for
unique assets
Binance.US Pay
• Peer-to-peer payments
Blockchain Products
•
•
•
•
•
Mining pools
Liquidity pools
Crypto loans
Swaps
Mini-Apps/dApps
28
PDF Page 31
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 30 of 32
Major Initiative Planned
CONFIDENTIAL
Goals for Seed Round
Diversify cap table with world-class investors
who can advise and guide the next phase in
.US growth
Gain access to a broader “network of friends”
to support business growth and improve
government / regulator / business community
relationships
Add new, independent members to the Board
to improve overall business governance and
oversight
Secure strategic investments from existing
and perspective customers and partners
29
PDF Page 32
Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 31 of 32
Major Initiative Planned
CONFIDENTIAL
Use of Seed Capital
Fund product and service expansions
• Build / Buy / Partner
Corporate Development / M&A Activity
• E.g. state licenses, derivatives platform, custody
platform, potential DeFi/compliance JV, etc.
Make strategic, ROI-positive investments in
customer acquisition and retention
• Invest in Marketing and Brand: paid media, referrals,
branding, advertising, partnerships, community,
infrastructure, tools, competitive intelligence, etc.
Invest in securing and keeping Top Talent
• Build out Executive Team with All-Stars
• Employ the world’s best Risk, Compliance, and
Legal teams
• Invest in Key Business Initiatives: Institutional Team
• Invest in Key Business Capabilities: Design team,
Marketing, Data and Analytics
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Case 1:23-cv-01599-ABJ Document 18-5 Filed 06/06/23 Page 32 of 32
Risk Factors
CONFIDENTIAL
Risks…
and Mitigation Strategies
• Industry Risk
• Pursue Product and Customer Diversification
Potential for extended crypto bear market
• Regulatory/Legal Risk
US regulatory actions could result in legal actions,
corporate liability, registration requirements, loss of
licenses, etc.
• Security Risk
Constant threat of hackers
• Competition
Speed of execution is critical; need to stay ahead of
competition
Expand revenue and profit pools with new products and services
• Invest in Risk and Compliance Capabilities (i.e.,
people, AI, tools, and processes)
Build world-class Legal, Risk, and Compliance departments
• Leverage World Class Security
Ensure highest level of security across entire platform
• Hire Global Talent
Attract hungry professional who can out maneuver
and out hustle the competition
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