The director of Binance says Trump was “fantastic” for cryptocurrency

Binance Richard Teng Director says Trump Administration is “Fantastic” reset for the cryptocurrencial industry.

“It’s an extremely different environment in which we do business,” Teng CNBC said on Tuesday.

In the 16-month range, Binance crossed the political exception to possible brokers for power supply in Washington. Once a poster child for regulatory defiance – Bynance was moved by a record settlement of $ 4.3 billion and forced to founder of billionaire Changpeng “CZ” Zhao – Cripto Exchange now moves to move dramatically a friendly political landscape under the president Donald Trump’s Another administration, Teng said.

“We have benefited from this shift,” Teng said, set for Binance Executive Director in November 2023. years. Years.

Tencharies come as CRIPTO EXCHANGE in conversation is that the Trump family has a financial share in the company, according to Wall Street magazine report Earlier this month. On the same day, Bloomberg has been reported This world freedom is the financial, Trump-related CRIPTO Bank that has not yet launched, engaged in conversations with the binance to start stablecoins in the form of dollars.

If such agreements would be achieved, it would mark a stunning reversal for the company that used to be Paria in Washington.

Teng, a former regulator who spoke soft speech, was careful with his words when dealing with the reports.

“I believe that world freedom itself and CZ itself give and denied reports,” Teng said, who runs exchanges outside the United States

As for the rumor about the trump card in Binance in Binance.us, Teng forbade.

“.Us and .com are quite different animals, isn’t it?” He said. “They have different gatherings of shareholders, different board of directors and different executive directors that drive the show.”

Binance structured two exchanges as an independent entity in response to regulatory control, aimed at fencing for spilling in the Prosger International business.

Still, Teng is Bullish on what the new political environment for crypto means.

“We’ve crossed four years of Choke Point 2.0 surgery so far – you have a very pro-cripto, Pro-and President,” he said. While Binance.com does not work in the US, he said, “We have benefited all these pro-cryptological policies”.

Choke Point 2.0 is as industry Insidents refer to the reception of the reception Inherited banks on digital property companies During biden administration.

Teng described a fast global expansion, which in just a year brought a substance of 170 million to 265 million users.

“We got a lot of access to different governments around the world,” Teng said, stating the regulatory progress in Japan, Australia, Hong Kong, Brazil, Argentina and the United Arab Emirates.

Binance is now licensed in 21 jurisdictions, and its influence covers without the reach of any country. This includes sovereign wealth funds, some of which start to be quietly awarded to crypto, Teng said.

In the background of all this optimism is the reality of the counted past bynance.

Zhao, the founder of the company and former director, was criminally charged, forced to step down and served a short prison sentence. Bynance paid Multibillion-dollar settlement – Finalized at the end of 2023. – Resolving the rafts of violations with American regulators, including the Ministry of Justice and the Commission for Combarian Future.

One main front remains open: securities and civil case of the exchange of exchange from Binance and Zhao.

SEC and binance in February have arranged on a 60-day pause In the procedure both sides consider potential resolution. The stay comes in the middle of a broader withdrawal for the SEC from several highly programs of cryptological lawsuits – signals a potential regulatory reset under the new administration.

“We have just been invested in line in those very early days,” Teng said. “But what is important as a responsible institution is to recognize these early mistakes, make an amantre menu and to invest in compliance in accordance with which we now do.”

Binance now employs more than 1,300 professionals in accordance, approximately a quarter of the total workforce, Teng said. “The travel direction is very clear. It is one of the compliance.”

The Nigerian government may not agree.

One of the main compliance officers in binance, Tigran Gambarian, was recently closed under the sharp conditions. In Nigeria, he faces a charges of alleged income tax and income tax, disrespectful tax returns and complicity in the auxiliary clients to avoid taxes through its platform.

In addition to Gambaraan, who is an American citizen and former employees in the internal service of income, Nigeria also closed colleagues Ekecutive Nadeem Anjarval, who is Britanit Kenian. Both are accused and detained in custody of Nigerian authorities. Anignarwall avoided custody in March 2024. years, and Gambarian was published several months later.

“The treatment passed in Nigeria is not guaranteed,” Teng o Anjarva said. “We always tried to connect and work with governments around the world.”

From the management of the Director General, Teng transferred the company from the starting of the founders to the organization of the managed board.

“I’m reporting to the board of directors now,” Teng said. “We have the Board of Seven Members, including three independent director and independent chairman.”

For all faces, the Scrute Binance, Teng insists that the platform remains dominant.

“We have more than 40% stake in the global market at any time,” he said.

He fired the concern about that Coinbase’s The growing political slider and swing behind the Cripto Exchange Fund, claiming that the ETFs are gate to crypto trading.

“Many users who start trading via the ETF are then switched to cryptocurnancy platforms,” ​​Teng said, noted that while Cripto trades Nonstop, ETFS is limited to working hours.

Binance has taken its first institutional investment Earlier this month In dealing with $ 2 billion with government-owned investment MGKS, which is aI and an advanced technical fund that counts Blackrock and Microsoft as partners. It is the biggest investment ever in the CRIPTO company and the greatest to be fully paid in Stablecoins.

Teng said that the investment sees as a way of bridging crypto and ai.

“We use AI on an extensive basis,” Teng said, noting that bynance would use artificial intelligence for customer service, security and monitoring compliance. “This is the locking sector. We need to continue using technology to achieve efficiency. “

They ask what holds him in the night, Teng whistled from the list: Safety, compliance, product innovation and assistance and acquisition opportunities.

“We want to make sure we run a very robust, operational, best platform,” he said.