In a CNBC interview, Binance CEO Richard Teng discussed the positive changes for the crypto industry with Donald Trump’s return to the White House.
A Turning Point for Binance and the Crypto Industry
Binance CEO Richard Teng noted that the political situation has improved under Trump’s second term. Government support for cryptocurrencies has allowed Binance to pivot and improve its standing in the U.S. Previously, Binance paid a $4.3 billion fine to settle legal challenges but is now taken more seriously in Washington.
Binance's Growth in 2023
In 2023, Binance grew its user base from 170 million to 265 million. The company achieved significant progress in collaborating with governments and regulators in countries such as Japan, Australia, and Brazil. Richard mentioned that Binance holds licenses in 21 jurisdictions and is actively investing in compliance.
Challenges and Achievements on the Global Stage
Despite international success, Binance faced tax evasion charges in Nigeria, leading to the arrest of its execs. However, Binance continues to be a key player in the global market, holding over 40% of global trading volume. The company recently received a $2 billion investment from MGX, highlighting the growing interest in crypto and technological innovation.
Under Richard Teng’s leadership, Binance is improving its commitment to compliance and continues to grow on the international scene. Trump's second term has brought about positive changes for the company, making it a leader in the crypto industry.
