Empire
Binance's CEO on the New Binance Vision | Richard Teng
Jan 13, 2025
Richard Teng, CEO of Binance, pulls back the curtain on the world's largest crypto exchange. He recounts how he was recruited to tackle a $4.3B regulatory settlement. Richard explains Binance's edge in navigating stringent regulations while expanding globally. The discussion reveals their rigorous listing processes and the balance between centralized and decentralized finance. He also shares insights on the evolving role of crypto in the U.S. political landscape and how education is key to reshaping public perceptions of this dynamic industry.
51:11
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Quick takeaways
- Binance's strategic focus on compliance and regulatory investment has positioned it as the most regulated crypto exchange, enhancing user trust.
- The significant increase in institutional adoption and user base reflects a maturation of the crypto market and mainstream acceptance.
Deep dives
User Growth and Institutional Adoption
In the past year, the platform experienced significant user growth, jumping from 170 million to 250 million users, with over 40% being new. Institutional adoption has also dramatically increased, with institutions like BlackRock and Fidelity coming on board, marking a shift toward mainstream acceptance of crypto. This period of institutionalization contrasts sharply with previous cycles, revealing a maturation of the market. The approval of an ETF earlier in 2024 played a crucial role in fostering this change, encouraging further institutional engagement.
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