Binance CEO Richard Teng held an unique interview in Taiwan as a part of the corporate's eighth anniversary.
Teng has issued a key assertion on the expansion of the platform since its inception, its regulatory compliance efforts, and the institutional acceptance course of for cryptocurrency.
Based in 2017, Binance now has a complete buying and selling quantity of round 300 million customers and a complete of $125 trillion. That common each day buying and selling quantity is $91 billion. In line with Richard Teng, curiosity in Crypto has accelerated considerably, particularly since 2024. Over the previous 12 months alone, the variety of Binance customers has elevated from 170 million to 280 million. Teng described this era as “the historical past of mainstreaming Crypto.”
In an interview final 12 months, Teng mentioned Binance had no plans for an early public providing (IPO) and was not contemplating returning to the US market, and after these statements he evaluated the altering world atmosphere as follows:
In 2024, we hit a turning level. With approval from the primary spot Bitcoin ETF, many institutional buyers who had been beforehand skeptical of crypto at the moment are displaying curiosity within the house. IPO developments have change into a marker of integration of cryptocurrency into the mainstream monetary system.
Teng mentioned authorities funding funds, household places of work and foundations now settle for crypto as an asset class, and IPOs are making pure progressions for the sector. He didn't present a brand new date for Binance's direct IPO plan, however he identified that $2 billion funding from institutional buyers like MGX's Binance is a robust indication that Crypto is institutionalised.
Within the interview, Teng additionally answered the query that “regulation limits innovation” because of the short-lived nature of purposes, similar to buying flight tickets with crypto in some international locations.
“The event of recent applied sciences is all the time outweighing regulatory frameworks. That is true within the Web age, and at the moment it applies to synthetic intelligence and blockchain. Regulation and innovation don't must be at odds. Conversely, technology-friendly regulatory frameworks shield customers and drive trade development.”
*This isn’t funding recommendation.
