Main Takeaways

  • Binance CEO Richard Teng held a live AMA on June 24, 2025, via Binance Square, drawing over 100,000 listeners.

  • He covered major topics including transparency, security, the impact of AI on crypto, the rise of institutional adoption, and Binance’s user-first approach.

  • The AMA comes just weeks before Binance’s 8-year anniversary, marking a moment of reflection on the company’s growth, resilience, and commitment.

On June 24, 2025, Binance CEO Richard Teng joined a live AMA on Binance Square, where more than 100,000 users tuned in to hear his thoughts on the future of crypto, Binance’s journey, and what’s coming next. 

The session covered a wide range of user-submitted questions, from transparency and AI to institutional adoption and user experience. 

Please note that this transcript has been edited for length and clarity.

1 / On Binance’s Market Share and Resilience

Binance continues to be a top exchange year after year. What has helped Binance stay strong throughout the years?

Richard Teng: “We are now approaching 280 million registered users globally. They are at the heart of everything: Binance is always about putting our users first, whether launching new products or refining existing ones to make them better. 

“Binance is going to celebrate its eight-year anniversary soon. From day one, being user-focused has been our guiding philosophy and I believe that’s what keeps Binance strong and resilient, and our teams committed. 

“In the course of the eight years, Binance has gone through many challenges, but it’s our fundamental beliefs that continue to pull us together and drive forward. It has been an incredible journey and we are very, very grateful to have such a passionate and supportive community walking alongside us every step of the way.”

2 / On Consistent Transparency

Binance as an organization continues to maintain 100%+ proof-of-reserves ratios monthly. Why is this so important and how does it shape user confidence?

Richard Teng: “We make a clear promise to our users: the assets they have on Binance have been and will always be fully backed, a hundred per cent and beyond. But promises alone are not enough. We want to make sure that we give our users the opportunity to validate our claims as well. 

“That is why we pioneered the monthly Proof-of-Reserves report using zk-SNARKs technology. This allows users to independently verify that their funds are safe and sound. It’s a way of putting everything out in the open. We believe that this kind of openness is what builds real trust. Transparency is not just a checkbox for us. It’s about giving our users peace of mind in a space that sometimes can feel uncertain.”

3 / On Redesigning and Refining the UX/UI

This month Binance launched a major redesign of the Pro mode app homepage. Why was this redesign a priority?

Richard Teng: “We’re very excited about the UI redesign because it’s a great example of how we continue to listen to our users, put out improvements, and evolve with them. Crypto can be complex, and one of the biggest challenges has always been making the experience seamless, smooth and intuitive. 

“With this redesign, what we wanted to do is give users much more control over their own experience. Features like customizable widgets and AI-powered insights mean you can tailor the platform to what matters most to you, which can look quite different for everyone. We believe that by making the interface cleaner and smarter, we lower the barriers to entry and help more people feel confident in their journey.”

4 / On the Intersection of Crypto and AI

What do you think of the future for retail traders as AI becomes more powerful and accessible? 

Richard Teng: “In the past, you’d rely on very sophisticated trading tools and insights, which only big institutions and people with very deep pockets had access to. But now, AI-powered tools can really allow everyone, including retail traders, to analyze markets much faster, identify trends, and make more informed decisions in real time. This democratization of tech means that more people can participate much more confidently and can become much more effective in crypto trading.

“At Binance we’re committed to integrating AI in ways that truly benefit our users. Our goal is to empower retail traders with tools to enhance their experience without overwhelming them. So the future is one where AI has a very helpful existence, facilitating human judgment rather than replacing it, so that every trader regardless of experience can navigate the markets with greater confidence and clarity.” 

How is Binance preparing for a world where crypto and AI intersect more deeply?

Richard Teng: “AI can help us keep users safe through things like smarter chat bots, fraud detection in KYC programs, and real-time risk monitoring to catch suspicious activity very quickly. You can streamline customer support, helping users get the answer much faster. On the trading side, AI-driven bots and predictive analytics can empower users to optimize their trading strategy and spot emerging trends. At Binance we continue to anticipate what is to come and how AI and crypto will intersect, which are the two fastest growing industries of our time.”

5 / On the Institutional Adoption of Digital Assets

As institutional interest in crypto is increasing, exemplified by the surge of crypto ETFs, how is Binance planning to position itself to facilitate large-scale institutional participation?

Richard Teng: “This is a key area that we’ve focused on. Last year everything started to change, firstly with the approval of ETFs in the US, and then subsequently in different parts of the world. At Binance we understood that all this large-scale institutional participation would come, and have been preparing for that for some time. In 2024 alone, our VIP userbase grew by more than 116%. Our registered institutional users increased by nearly 97%. These significant increases show that our platform is ready and thriving in supporting institutional investors at scale.

“Different types of users will have different needs, and the same goes for the institutions coming through the foundations, the trusts, the family offices. They have slightly different needs compared to other users. This is why for the institutional side of the business we have unique offerings such as fund accounts or Binance Wealth, designed to provide institutions with the tools and flexibility they require.”

6 / On Building a Safer Ecosystem

How is Binance working to make crypto safer and more helpful for everyday people?

Richard Teng: “You may have heard about our US$1 billion Secure Asset Fund for Users, and our monthly Proof of Reserves, which show our commitment to transparency and security. But I want to highlight two other key areas that may not be talked about as often: our industry-leading security and risk management infrastructure, as well as our collaboration with external partners. 

“Creating a safe blockchain ecosystem is a top priority for us at Binance. In fact, we have a 9-level anti-scam control framework that protects users from evolving threats by alerting them when their assets might be at risk. We also highlight through the information that we push out to users, how to safeguard your own mobile devices, set up 2FA, have proper control measures, etc.

“It goes beyond just platform-level security. We also work very closely with law enforcement agencies, industry groups, and other crypto companies to fight scams and cybercrime. Effective security takes a collaborative effort. We’re committed to doing our part to make crypto safer and more accessible.”

Final Thoughts

Do you have any final words for our community before we wrap up? 

Richard Teng: “With our eight-year anniversary coming up, there is so much to think about and so much to be thankful for. It’s a huge celebratory moment for all of us at Binance, an incredible eight years full of challenges, growth and milestones. 

“I want to extend my deepest gratitude to all our users, their number reaching 280 million soon. The numbers speak for themselves. We have the trust and confidence of users. But beyond that, we continue to be humble. We try to learn, adapt, and give our users what they need in terms of product enhancement and innovation. 

“The company is not just about crypto, it’s about what crypto makes possible. And our story continues to unfold. Each and every person in this community plays a very important part in shaping what’s going to come next. Thank you from the bottom of our heart to each and every one of you.”

Listen to the Audio Live on Binance Square

Couldn’t tune in live to the AMA with Binance CEO Richard Teng? You can listen to the full recording here via Binance Square.

Binance Square is a dedicated hub for crypto enthusiasts, with over 35 million monthly active users and new features like live trading and trade sharing. With content in 26 languages and over 800,000 creators, Square is a space for users of all levels to explore the latest trends and join the conversation around Web3.

Be sure to follow the official Binance Square page and Richard Teng’s account to catch the next AMA and stay updated on future events!

Further Reading

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