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Binance CEO Richard Teng believes Donald Trump’s presidency will usher in a boom for digital assets worldwide. In a recent Bloomberg Television interview, Teng highlighted how Trump’s pro-crypto stance is creating optimism in the industry.
Teng sees Trump’s leadership as a turning point, especially for institutional adoption and regulatory support. He stated, “The year ended with the election of a pro-crypto president, President Trump, and that gave good optimism into this space. And I predict it’s going to be the start of the golden era of crypto.”
Binance’s user base has surged significantly. In 2023, the platform had 170 million users, which grew to over 240 million by year-end. Teng also revealed that institutional users more than doubled during that time. The growth trend has continued in 2024, with Binance now serving 260 million users globally.
Teng noted that Trump’s stance marks a shift from former President Joe Biden’s administration, which he says was hostile toward crypto. He referred to “Operation Choke Point 2.0,” an alleged effort to limit the industry’s growth.
“If you look at the past four years under the Biden administration, Operation Choke Point was in progress. So there was a bit of oppression in the US, and US players, global crypto players were facing great uncertainty and governments around the world were not very supportive of crypto. I think we have a fresh reset, restart now.”
Since Trump’s election, Teng said, governments worldwide have expressed renewed interest in crypto. He pointed to the recent appointment of a US “AI and crypto czar” as evidence that digital assets and artificial intelligence are now seen as vital to the global economy.
With growing institutional interest and government support, Teng remains confident that crypto is entering a new period of expansion.