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It is a tactical retreat, and the fundamental factors for the growth of cryptocurrencies remain in place.

Richard Teng, the CEO of Binance, shared his thoughts on the recent market disruptions on platform X. He stated that the recent market disruptions should be viewed as a tactical retreat rather than a reversal. He also explained that price movements often obscure what is happening beneath the surface, but the fundamental factors for the growth of cryptocurrencies are still in place.

Richard Teng confirmed that institutional investment interest is still on the rise, that ETF flows remain strong, and that new requests are being submitted regularly. At the same time, Binance continues to see steady flows from new users.

Furthermore, Richard Teng mentioned that the recent decline is largely attributed to the Federal Reserve's indication of a cautious approach to interest rate cuts. However, if inflation trends downward or the labor market...