Binance CEO: '[Cryptocurrency] will form the foundation for growth and progress into the future'

The report further indicates that over 50% of top U.S. hedge funds now own Bitcoin ETFs, signaling growing institutional confidence in crypto assets.

Reuters reported that as of October 1, 2024, the total cryptocurrency market capitalization reached $2.2 trillion, a significant rise from $8.3 billion at the start of 2023.

Teng has been CEO of Binance since November 2023 and brings over three decades of experience in financial services and regulation. Since joining Binance in August 2021, he has focused on compliance to drive the company's growth. Previously, he served as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), Chief Regulatory Officer at Singapore Exchange (SGX), and Director of Corporate Finance at the Monetary Authority of Singapore.

Binance operates as a leading global blockchain platform with the largest digital asset exchange by trading volume. The company offers a diverse range of financial products and services and is recognized for its comprehensive ecosystem, which includes educational resources, research initiatives, charitable activities, and an NFT marketplace. It supports users worldwide in 40 languages and prioritizes security and regulatory compliance to protect its users and foster blockchain industry growth.