Binance CEO says Trump was “fantastic” for cryptocurrency

Binance CEO Richard Teng says the Trump administration was a “fantastic” reset for the cryptocurrency industry.

“This is an extremely different environment we work in,” Ten told CNBC on Tuesday.

For 16 months, Binance moved from a politically expelled power line in Washington. After the child on the regulatory challenge poster – Binance was played with a record settled of $ 4.3 billion with regulators and forced to expel the founder of the billionaire Changpen “CZ” Zhao – the exchange of cryptocurrency is now moving more friendly political landscape in president Donald Trump Second administration, Ten said.

“We took advantage of this shift,” said Ten, who was appointed CEO of Binance in November 2023.

Teng’s comments come as cryptocurrency is in negotiation that Trump’s family to take a financial share in the company, according to Wall Street Journal Report Earlier this month. The same day, Bloomberg reported This World Liberty Financial, related to Trump Crypto Bank, which has not yet started, is involved in conversations with Binance to start a stable dollar.

If such deals are achieved, this will mark a shocking turn for a company that has once been a pavement in Washington.

A tan, a former regulator of the soft, was careful with his words when he turned to the reports.

“I believe,

As for the rumors of Trump’s partition in Binance.us, Teng has been destroyed.

“.Us and .com are completely different animals, are they?” he said. “They have different sets of shareholders, different board of directors and various executives managing the show.”

Binance structures the two exchanges as independent organizations in response to regulatory control, striving to enclose its operations in the United States from a broader international business.

However, Ten is a bullish on what the new political environment for cryptocurrency means.

“We’ve been around for four years of Operation Chocke Point 2.0 until now-you have a lot of prokippts, Pro-AI president,” he said. While Binance.com does not work in the US, he said, “We have taken advantage of all these prokippito policies.”

CHOKE POINT 2.0 is how industrial internal persons refer to suspected repression of Inherited banks for digital assets During the Biden administration.

Teng described a rapidly global expansion, which brought binaning from 170 million to 265 million users in just one year.

“We have received many approaches from different governments around the world,” Ten said, citing regulatory progress in Japan, Australia, Hong Kong, Brazil, Argentina and the United Arab Emirates.

Binance is already licensed in 21 jurisdictions and its influence extends far beyond the reach of each country. This includes sovereign wealth funds, some of which are starting to distribute to cryptocurrency quietly, Ten said.

Against the backdrop of all this optimism is the reality of the binance check.

Jao, the founder of the company and former executive director, was charged criminally, forced to withdraw and serve a short sentence in prison. Binance pay settlement – finalized at the end of 2023 – to resolve a number of violations with US regulators, including the Ministry of Justice and the Committee on Futures of the Goods.

One major front remains open: the civil case of the Securities and Exchange Commission against Binance and Zhao.

SEC and Binance in February agreed to a 60-day pause in production, as both parties look at a potential resolution. The stay comes against the background of a wider withdrawal than SEC than several high-profile cryptocurrencies-a potentially regulatory reset sign under the new administration.

“We have insufficiently investing in accordance with these very early days,” Ten said. “But what is important as a responsible institution is to recognize these early mistakes, to correct themselves and to invest significantly in line with it now.”

Binance is now working over 1,300 professionals in accordance, approximately a quarter of their total workforce, Ten said. “The direction of the trip is very clear. This is compliance with the requirements.”

The Nigerian government may not be according to.

One of the best employees to comply with Binance, Tigran Gambaryan, was Recently closed under difficult conditions. In Nigeria, Binance has faced allegations of alleged tax and income tax tax, inability to submit tax returns and complicity in helping customers to avoid taxes through their platform.

Along with Gambaryan, who is a US citizen and a former internal revenue officer, Nigeria has also closed the colleague of the CEO, Roim Anjallala, who is British-Kenjan. Both were charged and left in custody by the Nigerian authorities. Anjarwalla escaped from custody in March 2024, and Gambaryan was released several months later.

“The treatment he has gone to in Nigeria is not justified,” Ten said to Anjalla. “We have always tried to connect and work with governments around the world.”

Ever since he took over the CEO, Teng has transferred the company from a start -up, led by a founder, to an organization managed by the board.

“Now I report to the Board of Directors,” Ten said. “We have an advice of seven members, including three independent directors and an independent chairman.”

For all upright predispositions, Teng insists that the platform remains dominant.

“We have more than 40% of the world market share at any moment,” he said.

He rejected his fears about Coinbase’s The increasing political influence and the inertia behind the cryptocurrency funds are argued that ETF is a cryptocurrency gateway.

“Many users who start trading via ETF subsequently move to cryptocurrency platforms,” ​​TENG said, noting that while crypto trades, nonstop, ETFS are limited to working hours.

Binance took over his first institutional investment earlier this month In a $ 2 billion deal with State Investment Company Emirati MGX, which is AI and Advanced Tech Fund, which counts Blackrock and Microsoft as partnersS This is the biggest investment ever made in cryptocurrency and the largest, which is paid completely in stable.

Ten said he sees the investment as a way to overcome cryptocurrency and AI.

“We use AI vast base,” Ten said, noting that Binance uses artificial intelligence for customer service, security and conformity monitoring. “This is the blockchain sector. We must continue to use the technology to achieve efficiency. “

Asked what supported him at night, Teng torn off the list: security, conformity, product innovation and merge and acquisitions.

“We want to be sure that we manage a very healthy, operational, best platform in the class,” he said.