Richard Teng, CEO of Binance, Has a Special Interview on the Occasion of the Company's Anniversary

Richard Teng, CEO of Binance, had a special interview on the occasion of the company's anniversary: Is an IPO about to take place? Reflecting on the market-g Richard Teng, CEO of Binance, had a special interview on the occasion of the company's anniversary: Is an IPO coming soon? RICHARDRLYMẠNHTẬP HỢPCEO

Because Bitcoin System EN 1 hour ago • 2 minutes read

Binance CEO Richard Teng had an exclusive interview in Taiwan to mark the 8th anniversary of the company's founding. Teng has made important statements about the development of the platform since its establishment, the efforts to comply with regulations, and the process of cryptocurrency adoption by organizations. Founded in 2017, Binance now has approximately 300 million users and a total trading volume of up to 125 trillion dollars. The average daily trading volume of the exchange is 91 billion dollars. According to Richard Teng, interest in cryptocurrency has accelerated significantly, especially after 2024. In just the past year, the number of Binance users has increased from 170 million to 280 million. Teng describes this period as "the history of the popularity of cryptocurrency." In an interview last year, Teng stated that Binance has no plans to issue an initial public offering (IPO) and they are not considering returning to the US market. Following these statements, he assessed the changing global environment as follows: The year 2024 marks a turning point. With the approval of the first spot Bitcoin ETF, many institutional investors, who were previously skeptical about cryptocurrencies, are now showing interest in this field. The IPO trend has become a sign that cryptocurrencies have integrated into the mainstream financial system. Teng said that government investment funds, family offices, and funds are now accepting cryptocurrency as an asset, making the IPO a natural progression for the sector. Although he did not provide a specific date for Binance's direct IPO plan, he noted that the $2 billion investment from institutional investors such as MGX in Binance is a strong indication that cryptocurrency is being institutionalized. In the interview, Teng also answered the question of whether "regulations restrict innovation" due to the short-term nature of applications such as buying airline tickets with cryptocurrency in some countries. "The development of new technologies always outpaces legal frameworks. This is true in the age of the internet, and it is also true for artificial intelligence and blockchain today. Regulation and innovation do not necessarily have to be at odds with each other. On the contrary, a technology-friendly legal framework will protect consumers and promote industry growth."