- Once considered untouchable in Washington, Binance has staged a dramatic rehabilitation campaign under new CEO Richard Teng.
- Teng on Tuesday told CNBC that the Trump administration has been a “fantastic” reset for the cryptocurrency industry.
- Binance’s global CEO Richard Teng is recasting the company as compliant, institutional and AI-forward after its $4.3 billion settlement with the U.S.
Binance CEO Richard Teng says the Trump administration has been a “fantastic” reset for the cryptocurrency industry.
“It’s an extremely different environment that we’re operating in,” Teng told CNBC on Tuesday.
In the span of 16 months, Binance has gone from a political outcast to a possible power broker in Washington. Once the poster child for regulatory defiance – Binance was slapped with a record $4.3 billion settlement with regulators and forced to oust billionaire founder Changpeng “CZ” Zhao – the crypto exchange is now navigating a dramatically friendlier political landscape under President Donald Trump’s second administration, Teng said.
“We’ve benefited from this shift,” said Teng, who was appointed Binance’s CEO in November 2023.
Teng’s comments come as the crypto exchange is in talks to have the Trump family take a financial stake in the company, according to a report by The Wall Street Journal earlier this month. That same day, Bloomberg reported that World Liberty Financial, a Trump-linked crypto bank that has not yet launched, is engaged in talks with Binance to launch a dollar-pegged stablecoin. […]
— Read More: www.cnbc.com
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