Binance CEO Richard Teng highlighted significant growth of the platform over eight years since its inception and discussed the future of cryptocurrencies in an exclusive interview.
Growth of Binance Over Eight Years
Since its founding in 2017, Binance has reached approximately 300 million users and a total trading volume of $125 trillion. Its average daily trading volume is $91 billion. According to Richard Teng, interest in cryptocurrencies has significantly accelerated, especially after 2024. In the past year alone, Binance's user base increased from 170 million to 280 million. Teng described this period as 'the history of crypto's mainstreaming.'
Institutional Investments and IPO
Teng noted that government investment funds, family offices, and foundations now accept cryptocurrencies as an asset class, making IPOs a natural progression for the sector. While he did not provide a new date for Binance’s direct IPO, he mentioned that the $2 billion investment from institutional investors like MGX is a strong sign that cryptocurrencies are becoming institutionalized.
Regulation and Innovation
In the interview, Teng addressed the question of whether regulations restrict innovation, stating, 'The development of new technologies always outpaces regulatory frameworks.' He emphasized that 'regulation and innovation don’t have to be at odds.' Teng also highlighted that a technology-friendly regulatory framework protects consumers and fosters industry growth.
Richard Teng's interview underscores important milestones in Binance's history and the changes in the perception of cryptocurrencies in traditional financial circles.
