Binance CEO Richard Teng has praised the Trump administration for creating a more favorable environment for the cryptocurrency industry, calling it a “fantastic” reset.
“It’s an extremely different environment that we’re operating in,” Teng told CNBC on Tuesday, acknowledging that Binance has benefited from this shift.
Over the past 16 months, Binance has gone from a regulatory outcast—paying a record $4.3 billion settlement and ousting its founder Changpeng “CZ” Zhao—to a rising power in Washington. Teng’s comments come amid reports that the Trump family is considering a financial stake in Binance, and that Binance is in talks with Trump-linked World Liberty Financial to launch a stablecoin.
Teng downplayed the reports, stating that both CZ and World Liberty Financial have denied them. He also emphasized that Binance.US and Binance.com operate as separate entities with different shareholders and leadership.
Despite past regulatory troubles, Binance has expanded rapidly, growing from 170 million to 265 million users in a year. The company is now licensed in 21 jurisdictions, gaining traction in markets like Japan, Australia, and the UAE.
However, Binance still faces scrutiny. The SEC’s civil case against the exchange remains unresolved, though a 60-day pause in proceedings signals a possible regulatory shift under Trump.
Teng acknowledged Binance’s past compliance failures but stressed its ongoing reforms. The company now employs over 1,300 compliance professionals, nearly a quarter of its workforce.
Binance recently secured a $2 billion investment from Emirati state-owned MGX, marking the largest crypto investment ever paid fully in stablecoins. Teng sees AI as the next frontier, with Binance integrating AI for security, compliance, and customer service.
Despite competition from Coinbase and the rise of crypto ETFs, Teng remains confident in Binance’s dominance. “At any point in time, we have more than 40% of global market share,” he said.
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