Binance CEO Richard Teng says that the election of pro-crypto US President Donald Trump is ushering in a prosperous era for digital assets around the globe.
In a new interview with Bloomberg Television, Teng says that Trump, who has been in office for just over four weeks, will help drive the adoption of crypto assets to new heights, especially by financial institutions and governments.
“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. I think that momentum continues.
Last year, we started the year with 170 million users on Binance. We ended the year 240 million-plus users. So we added 70 million users in the course of the entire year and our institutional users actually more than doubled in the past year. So it’s a fantastic set of results. And this year, by now, we have reached 260 million users globally. So we are the largest global crypto exchange.”
Teng believes there is already more interest in digital assets now than ever before as Trump represents a break from the anti-crypto policies of former US President Joe Biden, including “Choke Point 2.0,” an alleged coordinated effort by the government to shut down the crypto industry.
“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 President Trump’s election, actually, we have [been approached] by governments all around the world to say, ‘Hey, we want to look at this space now, by virtue of the fact that the US has appointed an AI and crypto czar represents that these are the two most important industries to support all future economies around the world. We are seeing fresh optimism, governments around the world are supporting it.”
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