Binance CEO Highlights 64% User Growth, Institutional Crypto Acceptance

Binance CEO Richard Teng held an exclusive interview as part of the company's eighth anniversary, discussing the platform's growth, regulatory compliance, and the institutional acceptance of cryptocurrencies. Founded in 2017, Binance has grown to approximately 300 million users and a total trading volume of $125 trillion, with an average daily trading volume of $91 billion. Teng highlighted that interest in crypto has accelerated significantly, especially after 2024, with the number of Binance users increasing from 170 million to 280 million in the past year alone. He described this period as “the history of crypto's mainstreaming.”

In a previous interview, Teng stated that Binance has no plans for an initial public offering (IPO) and that they are not considering returning to the US market. However, he evaluated the changing global environment, noting that 2024 marked a turning point with the approval of the first spot Bitcoin ETF. This approval has led many institutional investors, who were previously skeptical of crypto, to show interest in the space. The IPO trend has become a marker of cryptocurrency's integration into the mainstream financial system.

Teng mentioned that government investment funds, family offices, and foundations are now accepting crypto 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 plan, he noted that the $2 billion investment from institutional investors like MGX in Binance is a strong sign that crypto is becoming institutionalized.

Addressing the question of whether regulations restrict innovation, Teng responded that the development of new technologies always outpaces regulatory frameworks. He compared this to the internet age and the current advancements in artificial intelligence and blockchain. Teng emphasized that regulation and innovation do not have to be at odds. Instead, a technology-friendly regulatory framework protects consumers and fosters industry growth.