Binance CEO Richard Teng has described discussions about the crypto exchange’s potential re-entry into the United States as “premature,” emphasizing the company’s current focus on a global expansion strategy. Teng’s comments came during a Dec. 9 interview with Bloomberg TV, where he addressed the question of whether Binance would reconsider its U.S. presence in light of the pro-crypto stance of President-elect Donald Trump’s administration.
“Whether we will re-enter the U.S. market, I think that’s a premature discussion,” Teng said. “As of now, we are focusing on our global deployment, and we are growing very quickly and very happy with the progress we are seeing.”
Despite stepping back from the U.S. in November 2023 as part of a $4.3 billion settlement related to past regulatory violations, Teng acknowledged that the Trump administration’s crypto-friendly approach could herald greater adoption worldwide. The year 2024 has already proven to be a “landmark” for crypto, with Bitcoin surpassing $100,000 and various Bitcoin, Ethereum, and Solana ETFs gaining approval.
“We have now a very crypto-friendly President in the States and an extremely smart strategy, appointing an AI and Crypto Czar on that front,” Teng noted. “These two represent the most innovative technologies for the future, and other countries will do extremely well to focus on those areas.”
Beyond the United States, Teng believes more countries, sovereign wealth funds, institutions, and high-net-worth individuals will enter the crypto space, following moves like America’s strategic Bitcoin reserve announcement and Brazil’s Bitcoin reserve legislation.
