Binance CEO Richard Teng held an exclusive interview in Taiwan as part of the company’s eighth anniversary.
Teng has issued a key statement on the growth of the platform since its inception, its regulatory compliance efforts, and the institutional acceptance process for cryptocurrency.
Founded in 2017, Binance now has a total trading volume of around 300 million users and a total of $125 trillion. That average daily trading volume is $91 billion. According to Richard Teng, interest in Crypto has accelerated significantly, especially since 2024. Over the past year alone, the number of Binance users has increased from 170 million to 280 million. Teng described this period as “the history of mainstreaming Crypto.”
In an interview last year, Teng said Binance had no plans for an early public offering (IPO) and was not considering returning to the US market, and after these statements he evaluated the changing global environment as follows:
In 2024, we hit a turning point. With approval from the first spot Bitcoin ETF, many institutional investors who were previously skeptical of crypto are now showing interest in the space. IPO trends have become a marker of integration of cryptocurrency into the mainstream financial system.
Teng said government investment funds, family offices and foundations now accept crypto as an asset class, and IPOs are making natural progressions for the sector. He didn’t provide a new date for Binance’s direct IPO plan, but he pointed out that $2 billion investment from institutional investors like MGX’s Binance is a strong indication that Crypto is institutionalised.
In the interview, Teng also answered the question that “regulation limits innovation” due to the short-lived nature of applications, such as purchasing flight tickets with crypto in some countries.
“The development of new technologies is always outweighing regulatory frameworks. This is true in the Internet age, and today it applies to artificial intelligence and blockchain. Regulation and innovation don’t have to be at odds. Conversely, technology-friendly regulatory frameworks protect consumers and drive industry growth.”
*This is not investment advice.
