Binance CEO Praises Trump on Crypto Stance
Binance CEO Richard Teng has strongly endorsed the Trump administration’s method to cryptocurrencies.
He famous that he focuses on stablecoins, believing they would be the finest software for quickly increasing the digital asset area.
Binance Benefits from Trump’s Policy
On Monday, Binance held its ‘2025 Binance Blockchain Study (BBS)’ in Seoul, the place Teng attended and shared his view.
When requested concerning the Trump administration’s crypto coverage, Teng prompt that Binance “may very well be seen as a beneficiary.” He defined, “The Biden administration was pessimistic about crypto, however the Trump administration’s stance has utterly shifted.”
Teng known as it a pivotal 12 months for the crypto market, citing the discharge of clear regulatory proposals just like the Genius Act and the approval of spot crypto ETFs. He additionally famous that US publicly traded corporations have begun adopting crypto as a strategic reserve asset, a development he expects to develop into extra pronounced.
Teng additionally revealed that Binance is discussing numerous partnerships with the South Korean authorities. He mentioned, “We are discussing numerous partnerships with the Korean authorities.”
Teng positively views the Korean government’s crypto-friendly policy changes. He provides that he understands Korea “has a high crypto-holding ratio and is delicate to technological traits.”
South Korea has shifted from its beforehand strict regulatory stance, and up to date discussions have accelerated on introducing a won-backed stablecoin.
“It is pure for numerous establishments to companion on stablecoins. Binance has the benefit of a world community and a big consumer base, which might allow vital development for a stablecoin by collaboration,” he mentioned.
He added that whereas partnership discussions with Korea are ongoing, he couldn’t disclose additional particulars.
Stablecoins as a Solution for Financial Access
Teng burdened the necessity for the lively growth of stablecoins, stating, “Only about 20% of the world’s inhabitants has clean entry to monetary providers. The different 80% face difficulties with worldwide remittances, and stablecoins can resolve this.”
He believes conventional monetary establishments are additionally starting to acknowledge their worth, and the issuance and use of stablecoins are anticipated to develop steadily.
Regarding the short-term worth outlook, Teng predicted {that a} potential rate of interest lower in September would proceed the market’s upward development.
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