Richard Teng, CEO of Binance, has a special interview on the occasion of the company's anniversary: Is an IPO coming soon?
Reflecting on the market-g
Richard Teng, CEO of Binance, has a special interview on the occasion of the company's anniversary: Is an IPO coming soon?
RICHARD
RLY
STRONG
COLLECTION
Chief Executive Officer
By Bitcoin System EN
1 hour ago
•
2 minutes read
Binance CEO Richard Teng had an exclusive interview in Taiwan on the occasion of the company's 8th anniversary.
Teng has made important statements about the development of the platform since its inception, the efforts to comply with regulations, and the process of cryptocurrency adoption by institutions.
Founded in 2017, Binance has now reached about 300 million users and total trading volume of up to $125 trillion. The average daily trading volume of the exchange is $91 billion. According to Richard Teng, interest in cryptocurrency has significantly accelerated, especially after 2024. In just the past year, the number of Binance users has increased from 170 million to 280 million. Teng describes this phase as the "history of the popularity of cryptocurrency."
In an interview last year, Teng stated that Binance had no plans to issue an initial public offering (IPO) and that they were not considering returning to the U.S. market. After these statements, he assessed the changing global environment as follows:
2024 marks a turning point. With the approval of the first spot Bitcoin ETF, many institutional investors, who were previously skeptical about cryptocurrency, are now showing interest in the sector. The IPO trend has become a sign that cryptocurrency has integrated into the mainstream financial system.
Teng stated that government investment funds, family offices, and funds are now accepting cryptocurrency as an asset class, making an IPO a natural step for the sector. Although he did not give a specific date for Binance's direct IPO plans, he noted that the $2 billion investment from institutional investors like MGX into Binance is a strong sign that cryptocurrency is being institutionalized.
In the interview, Teng also addressed the question of whether "regulation stifles innovation" due to the short-lived nature of applications such as buying airline tickets with cryptocurrency in some countries:
"The development of new technologies always outpaces the legal framework. This was true in the internet age, and it is also true for artificial intelligence and blockchain today. Regulation and innovation do not necessarily have to be in opposition. On the contrary, a technology-friendly legal framework will protect consumers and promote industry growth."
