Binance CEO Richard Teng Speaks After Bitcoin Breaks Record After Record

Speaking on 'Mornings with Maria', Binance CEO Richard Teng described it as “exciting” that countries are starting to accept cryptocurrencies as part of their strategic reserves.

Touching on many topics from his trip in Bhutan to new regulations in the US, Teng said that global crypto adoption is accelerating.

Speaking about his visit to Bhutan, Teng noted that thanks to a partnership with the country's Ministry of Tourism and the local DK Bank, Bitcoin payments are now available at over 1,000 businesses. Teng explained that cryptocurrency is used for a wide range of transactions, from accommodation and airline tickets to tour guide payments and souvenir shopping. “This system is secure, cost-effective, and highly effective for both users and local businesses,” he said.

Teng noted that Bhutan has embraced crypto not only in terms of usage but also in terms of reserves. He explained that the country began mining Bitcoin using green energy five years ago and currently holds a substantial Bitcoin reserve. He also explained that assets such as Bitcoin, Ethereum, and Binance Coin (BNB) have been included in strategic reserves within Bhutan's special economic zone, the GMC.

Teng also touched on developments in the US, saying, “President Trump is strategically approaching future technologies like blockchain and artificial intelligence. His vision for the US to be the center of the crypto world offers great opportunities not only for economic growth but also for high-value-added employment and foreign direct investment.”

According to Binance CEO, Congress is preparing to vote on new legislation regarding stablecoins and market structure as part of “Crypto Week” in mid-July, heralding a new era for the sector. “These developments demonstrate that the US is moving away from its past repressive approach and embracing a supportive approach to innovation,” Teng said, adding that the establishment of a clear regulatory framework will make responsible innovation possible.

Teng, who announced that Binance's user base has surpassed 280 million, stated that this growth is largely due to institutional investors entering the crypto market. “It's not just individual investors; corporate treasuries, foundations, family offices, and even sovereign wealth funds are also showing interest in crypto. Global crypto adoption is currently only at 7%, but the next 10% increase will come much faster,” he said.

Teng also addressed a new proposal being floated in the US. Under the plan, supported by President Trump, institutions like Fannie Mae and Freddie Mac would consider crypto assets in their creditworthiness analysis. “The American dream has traditionally been defined by homeownership,” he said. “Including crypto assets in this process not only increases financial inclusion but also increases the mainstream adoption of crypto.”

According to Richard Teng, regulatory clarity and political support in the US will push other countries to follow suit. “If the US leads, the rest of the world will not want to miss this opportunity,” he said. “It is now clear that crypto offers a strategic advantage in economic competition.”

The Binance CEO concluded his speech by saying, “We are now entering a new dawn. Global adoption will accelerate, and crypto will be integrated into every aspect of life.”